Agenda - Council - 02/26/2013 - Laserfiche WebLink

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CC Regular Session 7. 5. Meeting Date: 02/26/2013 Submitted For: Kurt Ulrich By: Bill Goodrich, Administrative Services Information Title: Consider purchase of 14590 Armstrong Blvd. NW, Ramsey, Minnesota (Wiser Choice Liquor Store) from M&W Holding Company, LLC (the "Property"). PORTIONS OF THIS DISCUSSION MAY BE CLOSED TO THE PUBLIC. Background: Staff has received a counteroffer from the Seller to the City's offer to purchase the Property authorized by the Council in closed session on February 12, 2013. In the event the Council determines in closed session to accept the Seller's counteroffer, it will be necessary for the Council to approve by Resolution the purchase of the Property at an open meeting, and the purchase price is public data. Attached to this case is a proposed Resolution approving the purchase including a blank to be filled in announcing the purchase price. In addition, the Resolution includes a summary of the Council's reasons and actions relating to the purchase. The additional Resolution information is presented in order for the record to be clear that no conflict of interest issues exist as a result of Jeff Wise, principal shareholder of Seller M&W Holding Company, LLC having a been a former City Council member. Observations/Alternatives: The counteroffer will be presented in closed session for Council to consider/response. In the event the Council concludes in closed session to purchase the Property, a Resolution approving the purchase and sale terms will be available for Council consideration and possible adoption. An alternative of course will be not to approve the proposed purchase agreement or counteroffer the Seller's present offer. Recommendation: Staff recommends closing the meeting to consider the counteroffer. Contingent on closed session approval, staff recommends adoption of the attached Resolution approving the purchase and announcing the sale terms publicly. Funding Source: Funding for this property acquisition was included in the budget for the Armstrong/Sunwood realignment project. Council Action: Motion to close the meeting to consider a counteroffer from the Seller for the purchase by the City of the Property located at 14590 Armstrong Blvd. The closed meeting is pursuant to the authority granted by Minn. Stat. §13D.05, Subd. 3(c). and Motion to adopt Resolution 13-02-052 which is a Resolution authorizing the purchase of the real property located at 14590 Armstrong Blvd. NW for a purchase price of $ and that the other purchase terms to be pursuant to the terms of the Purchase Agreement reviewed with staff and the City Council this evening, which purchase agreement is subject to final approval as to legal form by the City Attorney. Attachments Resolution