Agenda - Council - 11/26/2019 - Laserfiche WebLink

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introduced the following resolution and moved for its adoption: CITY COUNCIL RESOLUTION #19-277 RESOLUTION APPROVING PURCHASE AGREEMENT FOR OUTLOT A, COR STONE BROOK ACADEMY WHEREAS, the City of Ramsey, herein referred to as the "City," owns various parcels throughout the City of Ramsey; and WHEREAS, the City negotiated the terms of Purchase Agreement for the sale of the parcel legally described on Exhibit A ("the Property"), with GiGi's Salon and Spa, Inc. a Minnesota Corporation; and WHEREAS, the City and GiGi's Salon and Spa, Inc. have negotiated a Purchase Price of $4.00 per usable square foot on +/- 1.5 acres (65,340 square feet) subject to a lot split as approved in Final Plat for the Property referenced in the Purchase Agreement; 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 with an effective date of November 26, 2019 requires a Right -of -Re -Entry Agreement be recorded at the closing of this land transaction; and WHEREAS, GiGi's Salon and Spa, Inc. is a company that is active and in good standing as documented in the Office of the Secretary of State as of 11/14/19; 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 authorizes the sale of the Property to GiGi's Salon and Spa, Inc., for $4.00 per usable square foot on +/- 1.5 acres (65,340 square feet) subject to a lot split as approved in Final Plat for the Property referenced in the Purchase Agreement for the development of a minimum 5,000 square foot retail building. 3) That the City authorizes execution of the Purchase Agreement with an effective date of November 26, 2019 and requires a Right -of -Re -Entry Agreement to be recorded at the closing of this land transaction.