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4.06: Lifestyle Property PA Reassignment <br /> Economic Dev. Mgr/Assistant City Administrator Brama stated Bill Gleason of Lifestyle <br /> Construction, desires to reassign the attached purchase agreement (PA) to Morning Sun Homes, <br /> Inc. In order for a reassignment of purchase agreement to occur, the City of Ramsey must <br /> provide written approval to Mr. Gleason and Morning Sun Homes. <br /> Economic Dev. Mgr/Assistant City Administrator Brama stated staff considers this case to be <br /> administrative. The City needs to make sure they have proper documentation/final form <br /> agreements, ready-to-go, to allow the City to close on the sale of this property. As a result of this <br /> proposed change of ownership, the Board needs to update the Purchase Agreement, Resolution <br /> for Anoka County Recorder's Office and Right-of-Re-Entry Agreement. <br /> Economic Dev. Mgr/Assistant City Administrator Brama stated the City entered into a purchase <br /> agreement for the sale of roughly 3-acres of city owned land to Lifestyle Construction on May <br /> 31, 2016 for what is commonly referred to as the "U-shaped" residential parcel located in The <br /> COR. This agreement was set to close by September 16, 2016, 10 days after the September 16th <br /> inspection period deadline. The PA was approved for an extension to close, via two <br /> amendments. The agreement is now set to close by March 16, 2017. <br /> Economic Dev. Mgr/Assistant City Administrator Brama presented the staff report. <br /> Mr. Bill Gleason, Lifestyle Construction, stated he originally looked at the property and was very <br /> excited about it. His position was always to be a part of this transaction to the finish. He stated <br /> Mr. Meuleners was a builder he worked with previously. He thought this would be a good <br /> benefit to the City. <br /> Mr. Mark Meuleners, Owner of the property, stated this is a tough project as far as the size and <br /> quite a bit of design work that needed to be done. He reviewed with the EDA what the homes <br /> will look like. <br /> Member Riley asked if the closing next week is ready to happen. <br /> Mr. Gleason stated they were. <br /> Chairperson Steffen asked what will happen after the closing. <br /> Mr. Meuleners stated they plan on building two houses to begin with. <br /> Motion by Member Burandt, seconded by Member Hardin, to recommend to City Council to: <br /> 1. Approve the attached Purchase Agreement Amendment 93; reassigning the agreement to <br /> from Lifestyle Properties, Inc. to Morning Sun Homes, Inc. <br /> 2. Adopt the attached Resolution 917-03-050; Authorizing the Sale of City Owned Land to <br /> Morning Sun Homes, Inc. <br /> Economic Development Authority/March 9, 2017 <br /> Page 10 of 12 <br />