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agreement has been signed by the seller and Chairperson Backous. City Attorney Goodrich <br />reviewed the terms of the purchase agreement. <br />HRA Executive Director Ulrich advised that Anoka County has indicated there are sufficient <br />funds through the Anoka County HRA if the City designates Anoka County as a development <br />arm of Ramsey. He stated it would require passage of a Resolution and making the request for <br />the funding. It was noted that closing is scheduled for July 10, 2013. <br />City Attorney Goodrich stated the Finance Director has advised that if closed before July 1, <br />2013, the City could abate all of 2014 taxes. <br />Commissioner Riley asked about the proceeds. <br />HRA Executive Director Ulrich stated the Anoka County HRA funds would be unrestricted. <br />Commissioner LeTourneau stated Anoka County wants Ramsey to enter into a JPA as a <br />condition of receiving that funding and he would support that action as it would obtain this <br />funding source and 'initiate a new relationship with Anoka County. <br />Commissioner Riley noted the agreement is to purchase the property "as is." <br />City Attorney Goodrich stated that is correct. <br />The HRA indicated support for an earlier closing date and to research the opportunity to request <br />tax - exempt status. <br />Motion by Commissioner Riley, seconded by Commissioner Strommen, to approve the purchase <br />agreement to purchase the real property located at 6710 Highway 10, Ramsey, Minnesota for a <br />purchase price of $361,000 and upon those additional terms of the May 10, 2013, purchase <br />agreement reviewed with the HRA at its May 14, 2013, regular meeting, subject to City Attorney <br />approval as to final form and conditions. <br />Motion carried. Voting Yes: Chairperson Backous, Commissioners Riley, Strommen, Kuzma, <br />and LeTourneau. Voting No: None. Absent: Commissioner Tossey. <br />6. DEVELOPMENT TEAM REPORT / EXECUTIVE DIRECTOR REPORT <br />6.01: HRA Land Sales / Right to Reverter <br />HRA Executive Director Ulrich stated a question had been asked at the April 23, 2013, meeting <br />relating to how long a buyer of HRA land has to develop /redevelop the land before title would <br />revert to the HRA. He noted City Attorney Goodrich had responded to that question in his May <br />2, 2013, memorandum. <br />City Attorney Goodrich explained the HRA has a redevelopment plan when a property is sold <br />that lays out the parameters of when it is to be developed and a time limitation can be included. <br />Housing and Redevelopment Authority / May 14, 2013 <br />Page 4 of 5 <br />