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AGENDA ITEM #12.3. <br /> REPORT TO <br /> CITY COUNCIL <br /> Date: January 8, 2008 <br /> Subject: Tax Forfeit Land <br /> Report: Enclosed is information from the County Land <br /> Commissioner regarding four lots in Pequot Lakes that are <br /> classified as tax forfeited tracts. (See attached map). The <br /> City has 60 days from December 14th to determine if it is <br /> interested in purchasing the lots. If the City is interested in <br /> pursuing the purchase of the lots we must inform the <br /> County within the 60 days. The City may pursue the <br /> purchase for a public purpose. The County then has six <br /> months to sell the lots to the City. The County will have the <br /> lots appraised and the City would be responsible for paying <br /> the cost of the appraisal which will run about $400-$500. If <br /> the City is still interested in purchasing the property after <br /> reviewing the appraised cost, the City would be required to <br /> pay for the appraised value of the property. <br /> (The information below is from Mike Loven) <br />