Agenda - Council - 07/24/2018 - Laserfiche WebLink

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showroom area (1,200 s.f.) with the balance of the building being used for assembly and storage. The City purchased the property in 2013 using Anoka County HRA funds. Land proceeds from the sale remain with the city and will be be deposited in the City's Economic Development Fund for future projects. The applicant also has an interest in applying for a loan from the EDA revolving loan fund to fill any financing gaps not covered by the SBA loan and buyer's equity. Please note that the project still needs to go through site plan review with the Planning Commission. The project has indicated an interest in requesting a variance to front yard setback to be in line with existing buildings along Highway 10. The Council may may accept, deny, or propose amendments to this purchase agreement at this time. Staff is recommending approval. Funding Source: Not applicable. Recommendation: The EDA recommends approval of this Purchase Agreement. The attached Purchase Agreement is consistent with city's polices for selling city -owned land and the proposed sales price is within the acceptable price range. The proposed use is an acceptable use that will add to the City's tax base and be a benefit to the Highway 10 business corridor. Action: Motion to approve the attached purchase agreement with PDKP Properties, LLC. for the purchase of property (PID# 34-32-25-13-0005), also known as 6710 Highway 10 NW Ramsey, MN. Cover Letter Purchase Agreement Plan Set Property Listing Attachments Form Review Inbox Reviewed By Date Tim Gladhill Tim Gladhill 07/19/2018 12:15 PM Kurt Ulrich Kathy Schmitz 07/19/2018 12:17 PM Form Started By: Katie Schmidt Started On: 07/13/2018 08:56 AM Final Approval Date: 07/19/2018