Resolution - #21-275 - 09/28/2021

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Councilmember Musgrove introduced the following resolution and moved for its adoption: RESOLUTION #21-275 RESOLUTION APPROVING FIRST AMENDMENT TO PURCHASE AGREEMENT – STORIES FOUNDATION WHEREAS, the City of Ramsey, herein referred to as the “City,” owns various parcels throughout the City of Ramsey; and WHEREAS, the City negotiated the terms of a Purchase Agreement for the sale of a Outlot B, COR STONE BROOK ACADEMY, with Stories Foundation, a Minnesota Nonprofit Corporation (the “Developer”) on October 29, 2020; and WHEREAS, the Developer has cited need for more time to obtain financing to complete the 12,000 square foot mixed used project outlined in the Purchase Agreement and has requested and extension of the Closing Date to December 31, 2021; and WHEREAS, the Developer will plat the property as part of the development and the new legal description will be Lot 1, Block 1, Storyteller Café Addition; and WHEREAS, the purchase price of the Property is $67,953.60; and WHEREAS, The EDA has reviewed First Amendment Purchase Agreement and recommends approval; and WHEREAS, the City herby declares the Property to be surplus City-owned land and is no longer needed for current or future City functions, and authorizes the property to be sold; and WHEREAS, the formal Purchase Agreement requires a Right-of-Re-Entry Agreement be recorded at the closing of this land transaction; and WHEREAS, Stories Foundation is a company that is active and in good standing as documented in the Office of the Minnesota Secretary of State as of September 22, 2021; and NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) That the City hereby declares the Property on attached Exhibit A to be surplus City-owned land, and authorizes the property to be sold. 2) That the City hereby authorizes the sale of the Property on attached Exhibit A to Stories, LLC, for $67,953.60 (22,651 square feet) subject to approved Final Plat for the Property