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Councilmember introduced the following resolution and moved for its adoption: <br />RESOLUTION #19-188 <br />RESOLUTION APPROVING RIGHT OF RE-ENTRY AGREEMENT FOR LOT 1, <br />BLOCK 1, ANDERSON DAHLEN SOUTH ADDITION <br />WHEREAS, the City of Ramsey, herein referred to as the "City," has authorized entering <br />into a Purchase Agreement and Right of Re -Entry Agreement ( the "Agreement") with Knoll <br />Properties, LLC (the "Developer") on April 23, 2019; and <br />WHEREAS, the Developer has requested the obligation date to obtain a certificate of <br />occupancy be extended from July, 31, 2020 to December 31, 2020 to account for a later completion <br />date of the project than originally anticipated; and <br />WHEREAS, the Developer has requested that the Right of Re -Entry Agreement be <br />amended to allow for reimbursement of the purchase price of $675,000 less City costs incurred <br />from City obligations of the Purchase Agreement dated April 23, 2019 if the City executes the <br />remedy of the right of re-entry; and <br />WHEREAS, the City has drafted an amended Right of Re -Entry Agreement incorporating <br />the negotiated changes by the Developer attached hereto as Exhibit A and retaining the $150,000 <br />penalty clause if the Certificate of Occupancy is not obtained per the terms of the Agreement. <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; subject to City Attorney review. <br />That the motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />and upon vote being taken thereon, the following voted in favor: <br />and the following voted against the same: <br />and the following abstained: <br />and the following were absent: <br />Existing Vacancy <br />Existing Vacancy <br />