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<br />Councilmember Menth introduced the following resolution and moved for its adoption: <br /> <br />RESOLUTION #20-244 <br /> <br />RESOLUTION APPROVING PURCHASE AGREEMENT FOR OUTLOT B, COR <br />STONE BROOK ACADEMY – STORIES FOUNDATION <br /> <br /> WHEREAS, the City of Ramsey, herein referred to as the “City,” owns various parcels <br />throughout the City of Ramsey; and <br /> <br />WHEREAS, the City negotiated the terms of Purchase Agreement for the sale of the parcel <br />legally described on Exhibit A (“the Property”), with Stories Foundation, a Minnesota Nonprofit <br />Corporation (the “Developer”); and <br /> <br />WHEREAS, the City and Developer have negotiated a Purchase Price of $3.00 per square <br />foot on +/- .52 acres (22,651 square feet) subject to a lot split as approved in Final Plat for the <br />Property referenced in the Purchase Agreement; and <br /> <br />WHEREAS, the City herby declares the Property to be surplus City-owned land and is no <br />longer needed for current or future City functions, and authorizes the property to be sold; and <br /> <br />WHEREAS, the formal Purchase Agreement requires a Right-of-Re-Entry Agreement be <br />recorded at the closing of this land transaction; and <br /> <br />WHEREAS, Stories Foundation is a company that is active and in good standing as <br />documented in the Office of the Minnesota Secretary of State as of October 19, 2020. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA <br />COUNTY, STATE OF MINNESOTA, as follows: <br /> <br />1) That the City hereby declares the Property to be surplus City-owned land, and authorizes <br />the property to be sold. <br /> <br />2) That the City hereby authorizes the sale of the Property to Stories Foundation, for $3.00 <br />per square foot on +/- .52 acres (22,651 square feet) subject to a lot split as approved in <br />Final Plat for the Property referenced in the Purchase Agreement for the development of a <br />minimum 12,000 square foot retail building. <br /> <br />3) That the City authorizes execution of the Purchase Agreement and requires a Right-of-Re- <br />Entry Agreement to be recorded at the closing of this land transaction. <br /> <br />4) That the City hereby authorizes the City Administrator and Mayor to sign any and all <br />documents necessary to close on the sale of the Property, consistent with Charter and State <br />law requirements. <br /> <br /> <br />