Agenda - Council - 08/28/2012 - Laserfiche WebLink

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CC Regular Session 7. 5. Meeting Date: 08/28/2012 Submitted For: Kurt Ulrich By: Bill Goodrich, Administrative Services Information Title: Consider entering into a purchase agreement for the property located at 14590 Armstrong Blvd., Ramsey, Minnesota known as Wiser Choice Liquors. - PORTIONS OF THIS DISCUSSION MAY BE CLOSED TO THE PUBLIC Background: Earlier this spring the Council authorized an appraisal of the Wiser Choice Liquor site and subsequently authorized the acquisition of this property for future Hwy 10/Armstrong Blvd. interchange purposes and a small part of the property is also needed for the Sunwood Drive Realignment Project and acquisition of this property facilitates sale of a site in the COR for relocation of the liquor store. Observations: Staff has negotiated with M&W Holding Company, LLC owner of the current liquor store site and would like to review the terms of a proposed Agreement with the Council. Pursuant to Minn. Stat. §13D.05 Subd. 3(c), the City Council may close portions of the meeting to develop offers for the purchase of real property. Staff recommends that portions of the meeting be closed to discuss the offer to purchase details. Assuming the Council agrees upon a final offer in the closed meeting, the actual purchase price must be approved at an open meeting and the purchase price is public data. If a final agreement is agreed upon, the meeting will be opened and a motion at the open meeting approving the actual purchase agreement will be required. Funding Source: Previously approved Sunwood Drive Alignment Funding Package. Council Action: Motion to close the meeting to consider/develop a final offer to purchase the real property located at 14590 Armstrong Blvd., the closed meeting is authorized pursuant to Minn. Stat. 13D.053(c). -and- Motion to purchase the project at 14590 Armstrong Blvd. for the amount of $ and upon the terms and conditions of the attached purchase agreement, subject to final approval of the City Attorney as to legal form. Form Review Form Started By: Bill Goodrich Started On: 08/21/2012 Final Approval Date: 08/09/2012