City Council Resolution 2022-43CITY OF MONTICELLO, MINNESOTA
RESOLUTION NO. 2022-43
RESOLUTION APPROVING A PURCHASE AGREEMENT BETWEEN THE CITY
OF MONTICELLO AND M & B ON CHELSEA, LLC
WHEREAS, M & B on Chelsea, LLC ("M & B") is the owner of the property legally
described on the attached Exhibit A, that consists of 5,919 square feet (the "M & B
Property"); and
WHEREAS, M & B has entered into a Purchase Agreement with the Monticello
Economic DevelopmentAuthority (the "EDA") to purchase property owned by the EDA (the
"EDA Property") so that M & B can expand its existing business, including constructing new
parking and loading areas; and
WHEREAS, the City wishes to acquire the M & B Property for the construction of a
stormwater pond and other public improvements; and
WHEREAS, in conjunction with M & B's purchase of the EDA Property, M & B has
agreed to convey the M & B Property to the City, provided that it receives a credit in the
amount of $19,118.37 towards its purchase of the EDA Property; and
WHEREAS, the City and M & B desire to enter into a purchase agreement (the
"Purchase Agreement") pursuant to which the City will acquire the M & B Property from M
& B and M & B will receive a credit that will be applied towards M & B's purchase of the EDA
Property; and
NOW THEREFORE, BE IT RESOLVED by the City Council as follows:
1. The Purchase Agreement is hereby approved. The City Council authorizes and
directs the Mayor and the City Clerk to execute the same in substantially the
form presented to the City Council, subject to modifications that do not alter
the substance of the transaction and are approved by the Mayor and the City
Clerk, provided that execution of the Purchase Agreement by such officials will
be conclusive evidence of their approval.
2. City staff, officials, and consultants are authorized to take any other actions
necessary to carry out the City's obligations under the Purchase Agreement,
including, without limitation, execution of any documents to which the City is
a party referenced in or attached to the Purchase Agreement and any other
documents necessary to purchase the M & B Property from M & B all as
described in the Purchase Agreement.
MN190-171-789738.0
Approved by the City Council of the City on April 11, 2022.
Mayor
ATTEST:
MN 190-171-789738.v 1
EXHIBIT A
Legal Description of the M & B Property
That part of Lot 1, Block 1, OTTER CREEK CROSSING 4TH ADDITION, according to the
recorded plat thereof, Wright County, Minnesota, which lies westerly of the following
described line:
Beginning at the most northerly corner of said Lot 1, OTTER CREEK CROSSING 4TH
ADDITION; thence South 37 degrees 52 minutes 15 seconds West, assumed bearing
along the common lot line between said Lot 1 and Outlot B, said OTTER CREEK
CROSSING 4TH ADDITION, a distance of 73.65 feet; thence South 47 degrees 51
minutes 30 seconds West, along said common lot line, a distance of 66.41 feet; thence
North 87 degrees 18 minutes 42 seconds West, along said common lot line, a distance
of 75.26 feet; thence North 70 degrees 24 minutes 21 seconds West, along said
common lot line and its extension, a distance of 150.26 feet; thence South 34 degrees
00 minutes 00 seconds West, a distance of 415.70 feet to the southwesterly line of
said Lot 1, and said line there terminating.
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