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Councilmember <br />adoption: <br />introduced the following resolution and moved for its <br />RESOLUTION #21-121 <br />RESOLUTION APPROVING THIRD AMENDMENT TO PURCHASE AGREEMENT <br />WITH GIGI'S SALON AND SPA, INC. <br />WHEREAS, the City of Ramsey, herein referred to as the "Seller," owns various parcels <br />throughout the City of Ramsey; and <br />WHEREAS, the Seller executed a Purchase Agreement with an Effective Date of <br />November 26, 2019 with GiGi's Salon and Spa, Inc. a Minnesota Corporation (the "Buyer"); and <br />WHEREAS, the Seller and Buyer have negotiated a Purchase Price of $4.00 per usable <br />square foot of City owned land subject to a lot split as approved in Final Plat of Gigi Addition for <br />the Property referenced in the Purchase Agreement; and <br />WHEREAS, due to a delay in obtaining SBA financing approval, the Buyer has requested <br />to extend the Closing Date from April 30, 2021 to May 31, 2021; and <br />WHEREAS, GiGi's Salon and Spa, Inc. is a company that is active and in good standing <br />as documented in the Office of the Secretary of State as of April 26, 2021; and <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA <br />COUNTY, STATE OF MINNESOTA, as follows: <br />1) That the City approves and authorizes execution of the Third Amendment to Purchase <br />Agreement with Gigi's Salon and Spa, Inc. with a Closing Date on or before May 31, 2021; <br />subject to City Attorney review. <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />1 and upon vote being taken thereon, the following voted in favor <br />thereof: <br />and the following voted against the same: <br />