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HRA Regular Session <br />Meeting Date: 07/23/2013 <br />By: Kurt Ulrich, Administrative Services <br />Information <br />5. 1. <br />Title: <br />Consider Offer to Purchase Outlot A, RTC 8th Addition (portions may be closed to the public) <br />Background: <br />The HRA originally received a purchase offer on Outlot A of the Ramsey Town Center 8thAddition in a letter to <br />Chairman Randy Backous on May 28, 2013. The HRA reviewed the purchase offer in a closed session at their <br />regular meeting of July 9, 2013. As a consequence, a counter-offer was presented and the following points were <br />agreed to: <br />1. The HRA is interested in selling the 3 acre parcel described as Outlot A of the Ramsey Town Center <br />8thAddition. <br />2. The HRA is in general agreement with the proposed land use of twin homes for the property as it is consistent <br />with the comprehensive plan for the area, but the property would need to follow the development approval <br />process required by the City. <br />3. The HRA has reviewed the purchase price and presented a counter-offer. <br />4. The HRA will construct the final lift on the adjacent streets based upon the above purchase price. <br />5. An assessment search by our staff indicates that there are no outstanding assessments on the property. <br />The attached exhibits A and B depict the parcel and a proposed development concept of 24 twin homes. This type <br />of development is generally consistent with current land use and zoning designations, but the development would <br />need to follow the normal City review process for approval. <br />Observations/Alternatives: <br />The prospective buyer has presented another purchase offer and it is recommended that the Council consider this in <br />closed session. <br />Recommendation: <br />It is recommended that the HRA consider the purchase offer on this property in closed session <br />Funding Source: <br />N/A <br />Action: <br />Consider the purchase offer on this property in closed session. <br />Attachments <br />PSD Exhibits <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich (Originator) Kurt Ulrich 07/18/2013 02:34 PM <br />Form Started By: Kurt Ulrich Started On: 07/18/2013 02:08 PM <br />Final Approval Date: 07/18/2013 <br />