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<br />Councilmember Riley introduced the following resolution and moved for its adoption: <br /> <br />RESOLUTION #21-170 <br /> <br />RESOLUTION APPROVING FOURTH AMENDMENT TO PURCHASE <br />AGREEMENT FOR LOTS 1, 2 AND 3, BLOCK 1, COR TWO <br /> <br />WHEREAS, <br />the City of Ramsey (the “City”) executed a Purchase Agreement with <br />RGH Ramsey, LLC (the Developer”) to purchase Lots 1, 2 and 3, Block 1, COR TWO (the <br />“Property”) on February 12, 2019; and <br /> <br />WHEREAS, <br />the City executed a First Amendment to Purchase Agreement with the <br />Developer to purchase Lots 1, 2 and 3, Block 1, COR TWO (the “Property”) with an Effective <br />Date of July 23, 2019; and <br /> <br />WHEREAS, <br />the City executed a Second Amendment to Purchase Agreement with the <br />Developer to purchase Lots 1, 2 and 3, Block 1, COR TWO (the “Property”) with an Effective <br />Date of June 9, 2020; and <br /> <br />WHEREAS, <br />the City executed a Third Amendment to Purchase Agreement with the <br />Developer to purchase Lots 1, 2 and 3, Block 1, COR TWO (the “Property”) with an Effective <br />Date of November 20, 2020; and <br /> <br />WHEREAS, <br />the Developer has communicated to the City that more time is needed to <br />secure end users for the project due to the impacts of Covid-19 on the commercial / retail <br />business sectors; and <br /> <br />WHEREAS, <br />the Developer has requested that the Closing Date be extended from July <br />15, 2021 to July 15, 2022; and <br /> <br />WHEREAS, <br />the Developer has requested that the Deadline date for the Certificate of <br />Occupancy for Building 1 be extended from January 15, 2022 to January 15, 2023; and <br /> <br />WHEREAS, <br />the Developer has requested that the Deadline date for the Certificate of <br />Occupancy for Building 2 be extended from August 15, 2022 to August 15, 2023; and <br /> <br />WHEREAS, <br />the Developer is offering to provide $10,000 in Non-refundable Earnest <br />Money for the extension; and <br /> <br />WHEREAS, <br />the Fourth Amendment to Purchase Agreement requires future approvals <br />for site plan and the execution of a Right of Re-Entry Agreement prior to closing on the <br />Property; and <br /> <br />WHEREAS, <br />RGH Ramsey, LLC has provided the City of Ramsey with the $40,000 in <br />Non-refundable Earnest Money for the Original Purchase Agreement, First Amendment to <br />Purchase Agreement and Second Amendment to Purchase Agreement; and <br /> <br />