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WHEREAS, the construction of the proposed Stone Brook Children's Academy will <br /> result in the need of MK Johnson Properties, LLC to access adjoining city-owned properties <br /> during construction. In order to allow for said access, a separate right-of-entry agreement must <br /> be authorized by the City of Ramsey; and, <br /> WHEREAS, MK Johnson Properties, LLC has formally applied for a $100,000 City of <br /> • Ramsey EDA Loan, which has been reviewed by the City of Ramsey, and underwritten by <br /> CMDC Business Loans. <br /> NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA <br /> COUNTY, STATE OF MINNESOTA, as follows: <br /> 1) That the City of Ramsey hereby declares the Property to be surplus City-owned land, and <br /> authorizes the property to be sold. <br /> 2) That the City of Ramsey hereby approves the sale of the Property to MK Johnson Properties, <br /> LLC for a total of$121,852.50 for the development of a roughly 9,500 square foot Children's <br /> Academy and Childcare Center. <br /> 3) That the City of Ramsey hereby approves the attached Purchase Agreement Amendment #1, <br /> with MK Johnson Properties, LLC, dated August 08, 2017. <br /> 3) That the City of Ramsey hereby authorizes and requires a Right-of-Re-Entry Agreement, with <br /> MK Johnson Properties, LLC, to be recorded against the Property at the closing of this land <br /> transaction. <br /> 4) That the City of Ramsey authorizes and requires a Right-of-Entry Agreement, with MK <br /> Johnson Properties, LLC, be approved before the closing of this land transaction. <br /> 5) That the City of Ramsey hereby approves and authorizes a $100,000 EDA Loan for MK <br /> Johnson Properties, LLC, and shall require the attached loan documents (loan agreement, <br /> promissory note, guaranty, mortgage)to be executed before disbursement of loan proceeds. <br /> 6) That the City of Ramsey hereby authorizes the City Administrator and Mayor to sign any and <br /> all documents necessary to close on the sale of the Property, to close on the proposed EDA <br /> Loan, and execute any documents outlined in this Resolution, consistent with City Charter <br /> and State law requirements. <br /> The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br /> Johns, and upon vote being taken thereon,the following voted in favor thereof: <br /> Mayor Strommen <br /> Councilmember LeTourneau <br /> Councilmember Kuzma <br /> Resolution#17-08-200 <br /> Page2of3 <br />