City Council Meeting Date: January 5, 2021
To: Mayor and City Council
City Administrator
From: Tim Behrendt, Streets and Parks Manager
David Bennett, Public Works Director/City Engineer
Title
Consider Accepting the Agricultural Land Lease for Fargaze Meadows Outlots C & D (Meadows Park Land)
Body
Action Requested:
The Northfield City Council approves the agricultural land lease with Far-gaze Farms.
Summary Report:
The City has leased the undeveloped portion of Meadows Park since 2015. The agricultural land lease on Fargaze Meadows Outlots C & D, previously approved by Council, has expired. The leased acreage is based on the amount of tillable land. The amount of tillable land is 19.9 acres. A lease rate of $215.00 per acre is the recommended rate for tillable land in this area.
The location map is included as an exhibit in the attached agreement.
Alternative Options:
If the lease isn’t approved, the City would need to consider seeding this area, until the park develops.
Financial Impacts:
The City pays taxes on the land that is leased. The proposed taxes in 2021 total $2,210.00. With revenue of $4,278.50 through lease payments, the City will make $2,068.50 in 2021. This revenue will go in the Park Fund.
Tentative Timelines:
The term of the agricultural land lease is January 1, 2021 to December 31, 2021 with an option to renew for two additional one-year terms.