Agenda - Council - 04/28/2015 - Laserfiche WebLink

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$920,000 to $895,960 to reflect the true size of the lot as conveyed by Hedlund Engineering. The remainder of the Agreement remains unchanged. Alternative #1. Adopt the First Amendment as presented. The total offer price still reflect the price per acre found in the original Agreement. Staff finds it fair to adjust based on actual lot size. Alternative #2. Negotiate the terms of the First Amendment. This would be based on discussion with the City Council. Alternative #3. Do not adopt the First Amendment and require the original asking price of $920,000. Staff would still suggest retaining the provision to exclude Lot 21 to allow the Land Swap with Meadow Creek Builders to occur. Request for Anoka County Housing and Redevelopment Authority (ACHRA) Funds to assist with Redevelopment Costs Under the Purchase Agreement with G S Land, LLC, the City is responsible for demolition of the current Fire Station No. 2 (former municipal center campus). The end result will be the creation of a quality housing development, an increase in the City's taxable base, and the removal of existing buildings that have been determined no longer needed for public purpose upon completion of the new Fire Station No. 2. The Anoka County HRA levies Ramsey residents. The original intent of levying Anoka County HRA taxes in Ramsey was to cover obligations of the Savanna Oaks Senior Housing Development at the intersection of Nowthen Boulevard and Dysprosium Street. A fund balance exists in this account that the City of Ramsey has access to for housing and economic development purposes. The demolition, site clean up, and utilities reconfiguration (in addition to the reconfiguration noted above) required to redevelop the site as proposed appear to be an eligible expense for these dollars. Details of the request are included in the attached narrative. Alternative #1: Direct Staff to prepare a final application to Anoka County HRA for consideration by the City Council at a future date. This alternative would allow the City to maximize its return on investment on the sale of 15153 Nowthen Boulevard. Alternative #2: Do not direct Staff to prepare a final application to Anoka County HRA for consideration by the City Council at a future date. This alternative would allow the City to reduce its return on investment on the sale of 15153 Nowthen Boulevard. Costs for redevelopment would need to come from the proceeds of the sale. Funding Source: Funding sources for the three (3) requested actions this evening are outlined in the individual sections above. Recommendation: Staff recommends approval of the attached agreements. Action: Motion to approve the following, subject to review by the City Attorney as to legal form: 1. Land Swap Agreement with Meadow Creek Builders, Inc. 2. First Amendment to Purchase Agreement with G S Land, LLC 3. Request for Use of Anoka County Housing and Redevelopment Authority Dollars to Assist with Redevelopment Costs Attachments