HomeMy WebLinkAboutResolution 2022-73 Authorizing Council Execution of Termination of Leases with EDACity of Corcoran
County of Hennepin
State of Minnesota
RESOLUTION NO. 2022-73
Motion By: Bottema
Seconded By: Nichols
June 9, 2022
A RESOLUTION AUTHORIZING EXECUTION OF TERMINATION OF LEASE AGREEMENTS
WHEREAS, the City of Corcoran (the "City") is the owner of certain real property within the City
of Corcoran, described on the attached Exhibit A (the "Property"); and
WHEREAS, during a recent review of title of the Property, certain encumbrances to title were
found to exist in the form of a ground lease and a lease -purchase agreement (collectively the
'Leases") between the City and the Corcoran Economic Development Authority (the "EDA"), both
executed on October 7, 2004; and
WHEREAS, a review of City records revealed that by 2006 all funds which were required to be
paid pursuant to the Leases were paid and the Leases thereafter terminated; and
WHEREAS, in the interest of clarifying the status of the Leases, the City desires to execute and
record a mutually executed "Termination of Lease Agreements" with the EDA.
NOW THEREFORE BE IT RESOLVED, the City Council of the City of Corcoran hereby approves
the Termination of Lease Agreements and authorizes the Mayor and the Administrator or their
respective designees to execute the same.
VOTING AYE
® McKee, Tom
® Bottema, Jon
® Nichols, Jeremy
® Schultz, Alan
® Vehrenkamp, Dean
VOTING NAY
❑ McKee, Tom
❑ Bottema, Jon
❑ Nichols, Jeremy
❑ Schultz, Alan
❑ Vehrenkamp, Dean
Whereupon, said Resolution is hereby declared adopted on this 9th day of June, 2022.
m Mc�—Mayor
ATTEST:
Jec�sica Beise —City Administrator
City Seal
City of Corcoran
County of Hennepin
State of Minnesota
RESOLUTION NO. 2022-73
EXHIBIT A
The "Property"
June 912022
That part of the Southwest Quarter of the Northwest Quarter of Section 24, TowiLship 119
North, Range 23 West, Hennepin County, Minnesota, described as follows: Commencing
at the southwest corner of said Southwest Quarter of Northwest Quarter•, thence northerly,
along the west line of said Southwest Quarter of Northwest Quarter 330.17 feet; thence
easterly, deflecting 90 degrees right 231.20 feet to the actual point of beginning of the
parcel to be described; thence northeasterly, deflecting 12 degrees 35 minutes 13
seconds left 60.00 feet; thence southeasterly, deflecting 90 degrees right 63.00 feet;
thence southwesterly, deflecting 90 degrees right 60.00 feet; thence northwesterly,
deflecting 90 degrees right 63.00 feet to the point of beginning. Containing 3,780 square
feet more or less.