Resolution - #03-07-177 - 07/08/2003

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Councilmember Zimmennan introduced the following resolution and moved for its adoption: RESOLUTION #03-07-177 A RESOLUTION AUTHORIZING THE PURCHASE OF LOT 2, BLOCK 2, GATEWAY NORTH INDUSTRIAL PARK PLAT 2 WHEREAS, it is an ongoing City policy to improve those areas of the City which have become blighted as a result of under utilization; and WHEREAS, Lot 2, Block 2, GATEWAY NORTH INDUSTRIAL PARK PLAT 2 (the "Lot") is a Lot which is need of redevelopment as a result of blight and under utilization; and WHEREAS, The City applied for and was granted a Community Development Block Grant to acquire and redevelop Lot 2, Block 2, GATEWAY NORTH INDUSTRIAL PARK PLAT 2. WHEREAS, funds for the purchase price of the Lot are available to the City through CDBG funding and Tax Increment Financing District No. 2; and WHEREAS, the City has had an appraisal of the Lot and which appraisal indicates a market value of $110,000, which purchase price shall be made pursuant to the terms and conditions of the attached purchase agreement. WHEREAS, the terms of the purchase agreement are such that the current owner has until April 30, 2004 to remove the personal property and debris from the property. WHEREAS, the City will hold $40,000 in an escrow account until the personal property is removed from the property. NOW, THEREFORE, be it resolved by the City Council of the City of Ramsey as follows: That the City authorizes the purchase of Lot 2, Block 2, GATEWAY NORTH INDUSTRIAL PARK PLAT 2 for a gross purchase price of $110,000.00, which purchase price shall be made pursuant to the terms and conditions of the attached purchase agreement. The motion for the adoption of the foregoing resolution was seconded by Councilmember Pearson, and upon vote being taken thereon, the following voted in favor thereof: Mayor Gamec Councilmember Zimmerman Councilmember Pearson Councilmember Cook Councilmember Elvig Councihnember Kurak Councihnember Strommen