Agenda - Council - 04/24/2018 - Laserfiche WebLink

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CC Regular Session Meeting Date: 04/24/2018 Submitted For: Patrick Brama, Administrative Services By: Patrick Brama, Administrative Services Information Title: Approve Centra Homes Purchase Agreement: Multiple Actions • Approve the Amended Purchase Agreement • Approve the Right of Entry Agreement • Adopt Resolution #18-051; Authorizing the Sale of City Owned Land to Centra Homes, LLC. 4. 5. Purpose/Background: PURPOSE Consider multiple actions related to the PA between the City of Ramsey and Centra Homes, LLC. These actions are considered to be administrative and consistent with past actions by the city. (1) Approve the attached Purchase Agreement Amendment #1; changing the title company and confirming the sale price/ preferred concept layout. (2) Approve the attached right of re-entry agreement. Per the attached purchase agreement for city -owned land, the buyer must enter into a right -of -re-entry agreement. This is a "performance" agreement that will be recorded against the Centra Homes Project. It will require the construction of 15 single family homes pursuant to the schedule by October 1, 2021. This agreement also outlines default provisions. (3) Pass a resolution formally authorizing the sale of city -owned land. As required by the Anoka County Recorder's Office, the city must pass resolution authorizing the sale of city -owned land. The city has already approved a purchase agreement outlining this action, and previously an ordinance BACKGROUND Please see attached cover letter. Please see company website. Centra Homes is in good standing with the State of Minnesota business filing search system. Staff has not worked with Centra Homes on a project in Ramsey. However, staff has been working with Centra Homes for the past few months, as they have contemplated several sites in Ramsey. The attached Amendment # 1, Appendix A, shows the preferred concept level layout. It should be noted, this layout is very preliminary and will require changes. This layout has not gone through the City's entitlement process and no approvals have been provided. The EDA, Planning Commission, and City Council have all seen this concept layout (February and March) and have provided preliminary informal support Notification: Observations/Alternatives: Funding Source: Recommendation: