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

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Councilmember introduced the following resolution and moved for its adoption: RESOLUTION #20-245 RESOLUTION APPROVING PURCHASE AGREEMENT FOR OUTLOT B, ALPHA DEVELOPMENT 2ND ADDITION — US HOME COPORATION 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 U.S. Home Corporation, a Delaware Corporation (the "Buyer"); and WHEREAS, the City and Buyer have negotiated a Purchase Price of $0.79 per square foot ($100,000) on +/- .2.91 acres (126,691 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, a Right -of -Re -Entry Agreement will not be required at the closing of this land transaction; and WHEREAS, U.S. Home Corporation is a company that is active and in good standing as documented in the Office of the Minnesota Secretary of State as of October 20, 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 U.S. Home Corporation, for $0.79 per square foot ($100,000) on +/- 2.91 acres (126,691 square feet) subject to an approved in Final Plat for the Property referenced in the Purchase Agreement. 3 4 ) ) That the City authorizes execution of the Purchase Agreement and requires that Buyer must have closed on Outlot A, Alpha Development prior to or simultaneous with closing of Propoerty. 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.