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Councilmember introduced the following resolution and moved for its adoption: <br />RESOLUTION #21-145 <br />RESOLUTION APPROVING FOURTH 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, the legal description of the Property being sold is Lot 1, Block 1, Gigi <br />Addition and the Purchase Price is $247,324; and <br />WHEREAS, due to a delay in obtaining Final SBA financing approvals and a completed <br />appraisal supporting the project value, an extension to the Closing Date from May 31, 2021 to July <br />31, 2021 is likely needed; 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 May 25, 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 Council approves and authorizes execution of the Fourth Amendment to <br />Purchase Agreement with Gigi's Salon and Spa, Inc. with a Closing Date on or before <br />July 31, 2021; subject to City Attorney review. <br />2) That the City Council approves the sale of Lot 1, Block 1, Gigi Addition to Gigi's Salon <br />and Spa, Inc. and or its assigns and authorizes the Mayor and City Administrator to <br />execute all documents required to transfer the Property; subject to City Attorney <br />Review <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />, and upon vote being taken thereon, the following voted in favor thereof: <br />and the following voted against the same: <br />