ITEM 4.2 Agreement between Otsego and P&F PropertiesA
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Ot�ezoz
MINNESOTA
DEPARTMENT INFORMATION
Request for
City Council Action
ORIGINATING DEPARTMENT:
Administration
REQUESTOR:
Lori Johnson, City Administrator
MEETING DATE:
December 14, 2015
PRESENTER(s):
Lori Johnson, City Administrator
REVIEWED BY:
Andy MacArthur, City Attorney
ITEM #:
4.2
AGENDA ITEM DETAILS
RECOMMENDATION:
Recommend consideration of a Purchase and Option Agreement (Agreement) between P & F Properties,
Inc., and the City of Otsego.
ARE YOU SEEKING APPROVAL OF A CONTRACT?
IS A PUBLIC HEARING REQUIRED?
Yes
No
BACKGROUND/JUSTIFICATION:
A closed session is being held immediately prior to the regular City Council meeting to discuss the sale of
Lot 1 Block 1 and an option on Lot 2 Block 1 of Great River Centre Fourth Addition to P & F Properties,
Inc. Action on the Agreement must take place at the open meeting.
SUPPORTING DOCUMENTS: ❑ ATTACHED X ❑ NONE
POSSIBLE MOTION
Please word motion as you would like it to appear in the minutes.
Motion to approve the Purchase and Option Agreement between P & F Properties, Inc., and the City of
Otsego. (Any changes made to the Agreement by the Council will be added to the motion.)
BUDGET INFORMATION
FUNDING: BUDGETED: ❑ YES
❑ NO
ACTION TAKEN
❑ APPROVED AS REQUESTED ❑ DENIED ❑ TABLED ❑ OTHER (List changes)
COMMENTS: