Committee Minutes

Minutes of Grand Forks City Council/Growth Fund
Authority (JDA) - Monday, October 18, 2010 - 5:30 p.m.____

The city council of the city of Grand Forks sitting as the Growth Fund Authority met in the council chambers in City Hall on Monday, October 18, 2010 at the hour of 5:30 p.m. with Chairman Gershman presiding. Present at roll call were Council Members Bjerke, Grandstrand, Glassheim, Gershman, Christensen, Kreun, Mayor Brown - 7; absent: Council Member Sande - 1.

HOLD PUBLIC HEARING AND APPROVE SALE OF REAL
PROPERTY TO GIBBS INVESTMENTS, GP

The staff report from the director of Urban Development relating to sale of real property to Gibbs Investments, GP, with recommendation to hold public hearing on the sale of property owned by the Grand Forks Growth Fund, a JDA as described in the attached Purchase Agreement, approve said agreement and authorize appropriate JDA officials to sign necessary agreement and documents subject to review and approval by the city attorney.

Greg Hoover, director of Urban Development, reported that last July the city council approved the transfer of this property to the JDA to facilitate a sale of the property, this property was part of the wastewater treatment property and was also site of the former fire training tower, and are asking for public hearing and also authorization to sell the property to Gibbs Investments which is related to RMI and they have agreed to the purchase price which is the appraised value of the property for $30,833.00. The property is being sold in an "as is" condition, that means that the purchaser of the property will be responsible for dealing with the training tower. The city attorney's office prepared a purchase agreement, which is included in your packet, and when sale of the property is completed, the $30,833.00 will go into the wastewater enterprise fund as a one-time injection of capital into the fund.

Chairman Gershman opened the public hearing, there were no further comments and the public hearing was closed.

It was moved by Mayor Brown and seconded by Council Member Christensen that the recommendation of the committee be approved. Upon call for the question and upon voice vote, the motion carried 7 votes affirmative.

` ADJOURN

It was moved by Mayor Brown and seconded by Council Member Glassheim that we adjourn.
Carried 7 votes affirmative.

Respectfully submitted,



Saroj Jerath
City Auditor