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C. Reject the proposed purchase agreement Funding Source: NA Recommendation: Per direction from the September 23 HRA meeting, Staff has revised the attached PA to address HRA the two identified concerns. The proposed PA meets the City's adopted pricing strategy. The proposed land transaction does not include any subsidies or financial assistance.* Attached is a general concept map indicating the proposed use. This concept was reviewed and generally accepted by the HRA (not officially). This PA requires PSD LLC to fund the required new City roadway. PSD LLC has a track record within The COR of completing and maintaining quality projects and working well with City Staff. Lastly, based on market input from CBRE, by approving this PA, the HRA will be sending a strong, positive, message to the development community; and should generate additional interest in HRA owned property within The COR. Considering the items above, and the previous direction from the HRA with a similar purchase offer, Staff would recommend accepting the proposed purchase agreement. *As outlined in the observations section of this case, PSD LLC has added a "Financial Assistance Notification" clause to the proposed PA. Action: Motion to approve the attached Purchase Agreement between PSD LLC and the Ramsey HRA for 13.97 acres of HRA owned land within The COR. Attachments NEW Purchase Agreement 10 14 2014 (partially executed) NEW Purchase Agreement 10 14 2014 (redline) ORIGINAL Purchase Agreement 08 06 2014 (VOID) ORIGINAL Purchase Agreement Amendment Request (VOID) Government Approvals Timeline Subject Property Listing and Specs Memo from CBRE Site Concept Plan 09082014 Form Review Inbox Reviewed By Date Tim Gladhill Tim Gladhill 10/09/2014 08:06 AM Kurt Ulrich Kurt Ulrich 10/09/2014 11:01 AM Form Started By: Jo Thieling Started On: 10/08/2014 03:50 PM Final Approval Date: 10/09/2014