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Councilmember introduced the following resolution and moved for its adoption: <br />RESOLUTION #19-177 <br />RESOLUTION APPROVING FIRST AMENDMENT TO PURCHASE <br />AGREEMENT FOR LOTS 1, 2 AND 3, BLOCK 1, COR TWO <br />WHEREAS, the City of Ramsey (the "City") executed a Purchase Agreement with <br />RGH Ramsey, LLC (the Developer") to purchase Lots 1, 2 and 3, Block 1, COR TWO (the <br />"Property") on February 12, 2019; and <br />WHEREAS, the Developer has communicated to the City that more time is needed to <br />secure end users for the project; and <br />WHEREAS, the Developer has requested that the Closing Date be extended from <br />February 15, 2020 to June 15, 2020; and <br />WHEREAS, the Developer has requested that the Deadline date for the Certificate of <br />Occupancy for Building 1 be extended from July 15, 2020 to November 15, 2020; and <br />WHEREAS, the Developer has agreed to make the $30,000 in Additional Earnest <br />Money non-refundable upon execution of the First Amendment to the Purchase Agreement in <br />exchange for the deadline extensions; and <br />WHEREAS, the attached First Amendment to Purchase Agreement requires future <br />approvals for site plan and the execution of a Right of Re -Entry Agreement prior to closing on <br />the Property; and <br />WHEREAS, RGH Ramsey, LLC has provided the City of Ramsey with the $10,000 in <br />Earnest Money and $30,000 in Additional Earnest Money identified in the First Amendment to <br />Purchase Agreement; and <br />WHEREAS, the EDA reviewed the Developer request for the First Amendment to <br />Purchase Agreement and recommended approval to the City Council. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br />1) The City of Ramsey authorizes the Mayor and City Administrator to execute the attached <br />First Amendment to Purchase Agreement; subject to City Attorney approval. <br />2) That the City of Ramsey authorizes the sale of Lots 1, 2 and 3, Block 1, COR TWO and <br />authorizes the Mayor and City Administrator to execute a Right of Re -Entry Agreement and <br />deed of transfer; subject to City Attorney approval. <br />