REAL ESTATE TRANSFER – 27TH AVENUE NW REGIONAL STORM WATER POND (3575)
Under a Development Agreement with the City dated August 31, 2012, Northern Lights Property Development, LLC created a regional storm water pond as a part of the 27th Avenue NW Storm Sewer Improvements Project. The Development Agreement provides that upon completion of Northern Lights’ obligations under the Development Agreement, the Development Agreement will terminate and Northern Lights is required to transfer title to certain property, improvements, and associated easements to the City. Northern Lights has completed their obligations.
Recommend approval of the transfer of land, whose legal description is Lot One (1), Block One (1), Tollberg Shores Second Addition, Ward County, North Dakota, from Northern Lights Property Development, LLC to the City of Minot, and authorize the Mayor to sign the Real Estate Transfer Agreement.