Agenda - Council - 01/26/2021 - Laserfiche WebLink

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Councilmember introduced the following resolution and moved for its adoption: RESOLUTION #21-025 RESOLUTION APPROVING SECOND AMENDMENT TO PURCHASE AGREEMENT AND RIGHT OF RE-ENTRY 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, the Seller executed a First Amendment to Purchase Agreement with an Effective Date of November 26, 2019 with GiGi's Salon and Spa, Inc. a Minnesota Corporation (the "Buyer") extending the Inspection Period to August 31, 2020; and WHEREAS, due to the Covid-19 Pandemic, amendments to the preliminary site plan and the Spring construction schedule the Buyer has requested to extend the Closing Date from January 31, 2021 to April 3 0, 2021; and WHEREAS, the Ramsey EDA has reviewed the Second Amendment to Purchase Agreement and Right of Re -Entry Agreement at the January 14, 2021 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 January 8, 2021; and NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) That the City approves and authorizes execution of the Second Amendment to Purchase Agreement and Right of Re -Entry Agreement with a Closing Date on or before April 30, 2021 and requires a Right- of -Re -Entry Agreement to be recorded at the closing of this land transaction. That the motion for the adoption of the foregoing resolution was duly seconded by and upon vote being taken thereon, the following voted in favor: