Resolution - #18-060 - 04/24/2018

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Councilmember Riley introduced the following resolution and moved for its adoption: CITY COUNCIL RESOLUTION #18-060 RESOLUTION AUTHORIZING THE CITY OF RAMSEY TO SELL 3.36 ACRES OF REAL PROPERTY 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 Exhibit AProperty of portions of the parcels legally described on (“the ”), on September 26, 2017, with CAP Acquisitions, LLC, a Washington limited liability company; and WHEREAS, the City and CAP Acquisitions LLC approved an amendment (Amendment #1) to the original formal purchase agreement on April 24, 2018; and WHEREAS, the City herby declares the Property to be surplus City-owned land and is no longer needed for current or future City functions, and authorizes the property to be sold; and WHEREAS, the formal purchase agreement requires a Right-of-Re-Entry Agreement be recorded at the closing of this land transaction; and NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) That the City hereby declares the Property to be surplus City-owned land, and authorizes the property to be sold. 2) That the City hereby approves the sale of the Property to CAP Acquisitions, LLC, for $4.00 per square foot for the development of multi level apartments. 3) That the City authorizes and requires a Right-of-Re-Entry Agreement to be recorded at the closing of this land transaction. 4) That the City hereby authorizes the City Administrator and Mayor to sign any and all documents necessary to close on the sale of the Property, consistent with Charter and State law requirements. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember LeTourneau, and upon vote being taken thereon, the following voted in favor thereof: