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AGENDA ITEM #10.1 <br /> City Qf <br /> Pequot <br /> Lal�es=- _ <br /> REPORT TO CITY COUNCIL <br /> Report Prepared by: Nancy Malecha <br /> Date: July 7, 2020 <br /> Subiect: Purchase Agreement for Proposed Lot 2, Block 1, Heart of the Good <br /> Life <br /> Report: At the June 2"d City Council Meeting, the Council authorized me to <br /> draft a purchase agreement for the sale of approximately four acres in the Heart of <br /> the Good Life Development, immediately west of the City's Public Works Facility, <br /> with the prospective buyer, Northern States Power Company (Xcel Energy) at a <br /> per acre cost of$45,000. Xcel Energy and I have agreed to the terms as outlined in <br /> the attached purchase agreement which was drafted by the City Attorney. <br /> Attached is a resolution, for Council consideration, approving the sale of this City- <br /> owned real property and dispensing with review of the sale by the Pequot Lakes <br /> Planning Commission. <br /> Council Action Requested: Council motion adopting the resolution approving <br /> the sale of City-owned property described as Proposed Lot 2, Block 1, Heart of the <br /> Good Life to Northern States Power Company for the purchase price of$45,000 <br /> per acre and dispensing with review of the sale by the Pequot Lakes Planning <br /> Commission. <br />