Laserfiche WebLink
HRA Special Session 5.2. <br />Meeting Date: 04/03/2012 <br />By: Darren Lazan, Housing & <br />Redevelopment Authority <br />Title: <br />Consider First Amendment to Purchase Agreement - The Residence at The COR <br />Background: <br />On March 27th, 2012 the City Council adopted the resolution approving the disposition of excess land owned by <br />the City of Ramsey and transferring ownership to the HRA. This property is generally described as: <br />PART OF LOT 1, BLOCK 1, RAMSEY TOWN CENTER 5TH ADDITION, OWNED BY THE CITY OF <br />RAMSEY, TO BE CONVEYED TO BE A PORTION OF LOT 3, BLOCK 1, COR ONE <br />The effective date of this ordinance will be April 30th, 2012. <br />The current purchase agreement approved by the HRA required the parties to close on or before March 29th, 2012. <br />Because the HRA will not have marketable title to the property until April 30th, they cannot convey by the date <br />outlined in the current agreement. <br />The attached amendment to that agreement extends the closing date to April 30th, 2012. <br />Notification: <br />Observations: <br />Recommendation: <br />The Developemnt Team recommends the HRA approve the proposed First Amendment to the Purchase Agreement <br />and direct staff to execute the document and deliver to the buyer. <br />Funding Source: <br />N/A <br />Council Action: <br />Approve the First Amendment to the Purchase Agreement and direct staff to execute the document and deliver to <br />the buyer. <br />First Amendment <br />Parcel Description <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Heidi Nelson Heidi Nelson 03/29/2012 03:00 PM <br />Form Started By: Darren Lazan Started On: 03/29/2012 02:46 PM <br />Final Approval Date: 03/29/2012 <br />