Laserfiche WebLink
CASE # <br /> <br />APPROVE LOAN AGREEMENTS FOR <br /> THE PURCHASE OF THE <br /> HIGHWAY 10 CORRIDOR/MILLER AND <br /> RAMSEY TOWN CENTER PARCELS <br /> <br />By: William IC Goodrich, City Attorney <br /> <br />Background: <br /> <br />At your last meeting, the Council approved purchase agreements for the acquisition of the Miller <br />and RTC LLC parcels on Highway 10. As a part of these transactions, Loan Agreements between <br />he Metropolitan Council and the City must be entered into. Staff will review the terms and <br />conditions of the Loan Agreements with the Council at the Council meeting. The Metropolitan <br />Council's attorneys are now reviewing these Loan Agreements for final approval <br /> <br />Enclosure: <br /> <br />Draft form of the Loan Agreements. <br /> <br />Recommendation: <br /> <br />Enter into the Loan Agreement. <br /> <br />Council Action: <br /> <br />Motion to authorize the City to enter into a Loan Agreements between the Metropolitan Council and <br />the City of Ramsey For Protective Acquisition of Highway Right-of-Way for the Miller parcel in <br />the amount not to exceed $359,000.00 and the RTC LLC parcel not to exceed $1,025,000.00. <br /> <br />Review Checklist: <br />City Administrator <br /> <br /> <br />