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Councilmember introduced the following resolution and moved for its adoption: <br />CITY COUNCIL RESOLUTION #18-250 <br />RESOLUTION AUTHORIZING THE CITY OF RAMSEY TO AMEND RIGHT OF <br />RE-ENTRY AGREEMENT <br />WHEREAS, the City of Ramsey, herein referred to as the "City," has entered into a Right <br />of Re -Entry Agreement ( the "Agreement") with Centra Homes, LLC (the "Developer") on May <br />8, 2018; and <br />WHEREAS, the Developer has communicated to the City that it is unable to complete the <br />project under the terms and conditions of the Agreement and has requested it be amended to allow <br />for approval by its lender to obtain necessary financing to complete the project; and <br />WHEREAS, the City has drafted an amended Right of Re -Entry Agreement that satisfies <br />the lender requirements and adds additional financial security for the City that is attached hereto <br />as Exhibit A. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA <br />COUNTY, STATE OF MINNESOTA, as follows: <br />1) That the City authorizes the City Administrator and Mayor to sign the Right -of -Re -Entry <br />Agreement attached hereto as Exhibit A. <br />The motion for the adoption of the foregoing resolution was duly seconded by <br />, and upon vote being taken thereon, the following voted in favor thereof: <br />and the following voted against the same: <br />and the following abstained: <br />and the following were absent: <br />Existing Vacancy <br />Whereupon said resolution was declared duly passed and adopted by the City of Ramsey this the 27th <br />day of November, 2018. <br />Mayor <br />ATTEST: <br />City Clerk <br />