Item 5A. Lake Rebecca Park Reserve: Acquisition Opportunity
Superintendent's Recommendation:
MOTION TO APPROVE A PURCHASE AGREEMENT IN THE AMOUNT OF $415,000 FOR THE ACQUISITION OF PROPERTY WITHIN LAKE REBECCA PARK RESERVE (PID 3211924210003) IN THE CITY OF GREENFIELD AND TO ENTER INTO AN ACQUISITION REIMBURSEMENT GRANT WITH METROPOLITAN COUNCIL WITH LOCAL FUNDING FROM THE LAND ACQUISITION, DEVELOPMENT AND BETTERMENT FUND.
Prepared By: Ann Rexine - Principal Planner
Background:
Jason Griep, on behalf of North Winds Group LLC, reached out to Three Rivers staff to express interest in selling property (PID 3211924210003) located at 8495 Rebecca Park Trail, Greenfield, MN. The property is 0.89 acres and is surrounded on all sides by Lake Rebecca Park Reserve, adjacent to County Road 50/Rebecca Park Trail (See Attached: North Winds Group LLC Property Map).
Addition of this property supports Lake Rebecca Park Reserve natural resources protection and completes a significant stretch of parkland acquisition near the Crow River.
Should the Board be supportive of this acquisition, staff will submit a reimbursement request, making the property eligible for Metropolitan Council acquisition funding support. The signed purchase agreement is attached (See Attached: North Winds Group LLC Purchase Agreement) and reflects the appraised value of $415,000. The Purchase Agreement sets a close date on or before October 29, 2026.
The total estimated acquisition cost, which includes the sale price, appraisal, legal fees and title commitment/insurance, and demolition/stewardship costs is $520,000. The acquisition would be eligible for up to 75% (~$311,250) reimbursement from the fiscal year (FY) 2027 Parks and Trails Legacy Fund (PTLF) with the balance of about $103,750 coming from Three Rivers Land Acquisition and Betterment Fund (LADB).
Relationship to the System Plan:
The Request for Action supports the following goal(s) of the System Plan:
Goal 1: You Belong Here
Goal 2: Parks Matter
Goal 3: Lead by Example
Attachments:
North Winds Group LLC Property Map
