Agenda - Council - 10/27/2020 - Laserfiche WebLink

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Councilmember introduced the following resolution and moved for its adoption: RESOLUTION #20-244 RESOLUTION APPROVING PURCHASE AGREEMENT FOR OUTLOT B, COR STONE BROOK ACADEMY — STORIES FOUNDATION 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 Stories Foundation, a Minnesota Nonprofit Corporation (the "Developer"); and WHEREAS, the City and Developer have negotiated a Purchase Price of $3.00 per square foot on +/- .52 acres (22,651 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 requires a Right -of -Re -Entry Agreement be recorded at the closing of this land transaction; and WHEREAS, Stories Foundation is a company that is active and in good standing as documented in the Office of the Minnesota Secretary of State as of October 19, 2020. 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 Stories Foundation, for $3.00 per square foot on +/- .52 acres (22,651 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 12,000 square foot retail building. 3 4 ) ) That the City authorizes execution of the Purchase Agreement and requires a Right -of -Re - Entry Agreement to be recorded at the closing of this land transaction. That the City hereby authorizes the City Administrator and Mayor to sign any and all documents necessary to close on the sale of the Property, consistent with Charter and State law requirements.