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Councilmember LeTourneau introduced the following resolution and moved for its adoption: CITY COUNCIL RESOLUTION #17-08-200 RESOLUTION AUTHORIZING THE CITY OF RAMSEY TO SELL 0.85 ACRES OF CITY OWNED LAND, AUTHORIZE A RIGHT-OF-ENTRY AGREEMENT, AUTHORIZE A RIGHT-OF-RE-ENTRY AGREEMENT,AUTHORIZE A COST SHARE ARRANGEMENT FOR YOLITE STREET, AUTHORIZE A PURCHASE AGREEMENT AMENDMENT, AND AUTHORIZE A $100,000 EDA LOAN FOR THE PROPOSED STONE BROOK CHILDREN'S ACADEMY AND CHILDCARE CENTER WHEREAS, the City of Ramsey, herein referred to as the "City," owns various parcels throughout the City of Ramsey; and WHEREAS, the City received and entered into a formal purchase agreement for the sale of the parcel legally described below ("the Property"), on March 15, 2017, with Michael and Kristen Johnson: OUTLOT B, COR 1, COUNTY OF ANOKA, MINNESOTA WHEREAS, the original County PID is 28-32-25-23-0010 and a 0.85 acre portion of the original PID will be platted into: LOT 1, BLOCK 1, COR STONE BROOK ACADEMY, COUNTY OF ANOKA, MINNESOTA. WHEREAS,the Property was declared by the City of Ramsey as surplus city-owned land and is no longer needed for current or future city functions, and is authorized for sale; and WHEREAS, Michael and Kristen Johnson have requested the formal purchase agreement be amended, reassigning the agreement to MK Johnson Properties, LLC, a Minnesota Limited Liability Company; and, WHEREAS, the formal purchase agreement includes a provision outlining a cost-share arrangement for the construction of the proposed 275' public road (Section #32). MK Johnson Properties, LLC will construct the proposed public road, and the City of Ramsey will provide a reimbursement of 80% back to MK Johnson, LLC, within 30 days, upon completion, which shall be determined, in writing, by the City Engineer, and shall be funded from the City's TIF District #14; and, WHEREAS, the formal purchase agreement includes a provision requiring a separate right-of-re-entry agreement be recorded against the Property (Section #30) to ensure a roughly 9,100 square foot building is constructed by September 01, 2018; and,