Consider entering into a purchase agreement for the property located at 8019 -146th Avenue NW, Minnesota owned by USCO Corp. - PORTIONS OF THIS DISCUSSION MAY BE CLOSED TO THE PUBLIC.

 Earlier this year the Council authorized an appraisal of the USCO site and subsequently authorized the acquisition of this property for the Sunwood Drive/Realignment Project.  The owner is requesting an increased sale price over the appraised value.

 Staff has negotiated with USCO Corp and would like to review the status of these negotiations and discussions with our appraiser with the Council.  Pursuant to Minn. Stat. §13D.05 Subd. 3(c), the City Council may close portions of the meetings to consider/develop offers for the purchase of real property.  Staff recommends that portions of the meeting be closed to discuss the offer to sell details and the status of the pending negotiations.  Staff would like council direction on responding to the owner's request.  When a final agreement is reached between the parties, the actual purchase price will need to be approved at an open meeting of the Council.

Previously approved Sunwood Drive Alignment Funding Package. 

 Motion to close the meeting to consider/develop a final offer to purchase the real property located at 8019 - 146th Avenue NW, the closed meeting is authorized pursuant to Minn. Stat. §13D.053(c).