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3. Amend <br />The Council may wish to tweak or adjust provisions included in the proposed PA. Staff would be happy to <br />make adjustments as requested by the Council. The one item that should be identified is the relatively low <br />asking price. The Council may wish to counter. <br />Funding Source: <br />NA <br />Recommendation: <br />Please see observations section. <br />This case was reviewed by the EDA on June 04. The EDA did not take a formal action on this case. The EDA did <br />provide the following general direction: <br />(1) The proposed project is a good fit for the subject property. 24 Restore is a valued/ respected local <br />business and the EDA would like to seem them stay in Ramsey. The proposed project does benefit the City by <br />creating jobs and tax base. <br />(2) The EDA recommends the City Council discuss this case in closed session to develop a counter offer <br />strategy. The EDA did not develop a specific counter offer and did not go into closed session. However, the <br />EDA feels the standing offer of $1.31 per square foot ($55,000) is too low. <br />Action: <br />Motion to: <br />Approve the attached purchase agreement with WESTCO Properties LLC. for .95 acres of City owned land located <br />at 6590 141st Ave NW; contingent upon final review and amendments from the City Attorney. <br />-or- <br />Table this case. <br />(provide Staff direction on a strategy for a counter offer in closed session) <br />Attachments <br />Property Listing (Subject Property) <br />Purchase Agreement 06022015 <br />DRAFT Site Plan and Elevations <br />Net Proceeds (new) <br />Net Proceeds (original) <br />Form Review <br />Inbox <br />Reviewed By <br />Date <br />Kurt Ulrich <br />Jo Thieling <br />06/04/2015 10:54 AM <br />Patrick Brama <br />Patrick Brama <br />06/04/2015 03:05 PM <br />Kurt Ulrich <br />Kurt Ulrich <br />06/04/2015 03:27 PM <br />Form Started By: Patrick Brama <br />Started On: 06/03/2015 06:26 PM <br />Final Approval Date: 06/04/2015 <br />