Agenda - Council - 05/26/2020 - Laserfiche WebLink

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introduced the following resolution and moved for its adoption: RESOLUTION #20-099 RESOLUTION APPROVING FIRST AMENDMENT TO PURCHASE AGREEMENT WITH GIGI'S SALON AND SPA, INC. WHEREAS, the City of Ramsey, herein referred to as the "Seller," owns various parcels throughout the City of Ramsey; and WHEREAS, the Seller executed a Purchase Agreement with an Effective Date of November 26, 2019 with GiGi's Salon and Spa, Inc. a Minnesota Corporation (the "Buyer"); and WHEREAS, the Seller and Buyer have negotiated a Purchase Price of $4.00 per usable square foot of City owned land subject to a lot split as approved in Final Plat for the Property referenced in the Purchase Agreement; and WHEREAS, due to the Covid-19 Pandemic and its impact on it business, the Buyer has requested the Inspection Period date to be extended to August 31, 2020 to allow for more time to make a decision on giving a Notice to Proceed; and WHEREAS, the Ramsey EDA has reviewed the First Amendment to Purchase Agreement at the May 14, 2020 EDA meeting and recommends approval; 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 May 14, 2020; and NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) That the City authorizes execution of the First Amendment to Purchase Agreement with an Inspection Period date of August 31, 2020 and requires a Right -of -Re -Entry Agreement to be recorded at the closing of this land transaction. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember , and upon vote being taken thereon, the following voted in favor thereof: and the following voted against the same: None