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RALF: Over the past 90 days staff has spent a considerable amount of time working with tenants located on City <br />owned properties along Highway 10 (commonly known as RALF properties). PACT Charter and Northern Light <br />leases are due for renewal in 2015; and both new leases may require modifications to the premises. Staff expects <br />lease proposals for both users to come forward in the next 60 days to the City Council. Youth First is in the process <br />of designing a new, commercial -grade, kitchen for their space. A request for these improvements will come to the <br />Council in the next 60 days. Staff continues to work with Independent Auto regarding number of property <br />maintenance issues and other outstanding items. <br />ARMSTRONG: Over the past 90 days staff has spent significant time working with previous property <br />owners/tenants located on City property purchased for the Armstrong Interchange project. Anoka County, will be <br />taking over the process of site demolition and clean-up for said properties in March. Staff is working with Anoka <br />County to ensure all properties have been vacated by tenants; and all equipment and personal possessions have <br />been removed. This includes an auction for equipment left in the Wiser Choice Liquor store building. <br />F&C (Residence at The COR) Refinance/Sale <br />As of late February, F&C has indicated they are now selling their property in Ramsey rather than refinancing. They <br />expect to close on this sale on April 09. As a result of F&C pursing a sale rather than a refinance, the City Council <br />re -adopt a set of new/ updated resolutions and amendments related to pervious agreements with F&C (this was the <br />second time the Council will review/ adopt said documents). <br />Purchase Agreements: <br />PSD LLC: Currently completing preliminary design for site plan and preliminary plat. Expected for April <br />Planning Commission and Council review. The project is one month behind the originally anticipated <br />schedule. If the applicant is able to move forward efficiently, the original closing date of May 1 can still be <br />attained. <br />NIK Management: Currently completing preliminary design for site plan and preliminary plat. Expected for <br />May Planning Commission and Council review. This project is one month behind the originally anticipated <br />schedule; however, still will be able to close in the time -frame desired by the bueyer (June 1). <br />On March 24, staff was notified NIK Management has "reassigned" the PA to "GS Land, LLC." GS Land <br />LLC is based out of St. Cloud, MN. This LLC is made up of two partners (Steve Gerster and Tom Sloan). <br />Steve and Tom recently sold their company, PCI Roads (link); and are both still currently working for PCI <br />Roads. Steve and Tom are looking to invest equity from the sale of their company into real estate projects. <br />Tom and Steve know NIK Management well; and the City of Ramsey. <br />Moving forward, NIK Management plans on still managing this project to closing, on behalf of GS Land. <br />NIK Management will be paid a commission from GS Land after closing. GS Land has indicated they will be <br />funding the project and the required letter of credit (they are essentially investors and NIK is the project <br />manager). The proposed home builder, Rice Creek ( link), is not changing. The proposed project, site layout, <br />and schedule, is not changing. Staff plans on meeting with the new buyer on March 03. Staff believes the <br />involvement of GS Land will help ensure the proposed deal moves forward to closing. <br />Casey's General Store: Have attained site plan and plat approval. This project is nearly ready to close; Casey's <br />is currently resolving a number of small administrative items (easements, Anoka County review, finalizing <br />the plat, etc.). Closing is set to take place no later than April 23. <br />24 Restore: Staff has not received an executed copy of the PA from 24 Restore. Staff has directed CBRE to <br />send a PA cancelation notice. Staff is still working with this prospect to find a solution in Ramsey. <br />Common Bond Communities: Currently completing preliminary design for site plan and preliminary plat. <br />Expected for June Planning Commission and Council review. This project is two months behind the <br />originally anticipated schedule. The original PA calls for a May 01 closing; and includes the ability to extend <br />