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<br />Councilmember Riley introduced the following resolution and moved for its adoption: <br /> <br />RESOLUTION #21-350 <br /> <br />RESOLUTION APPROVING SECOND AMENDMENT TO PURCHASE AGREEMENT <br />FOR OUTLOT B, COR STONE BROOK ACADEMY <br /> <br /> WHEREAS, the City of Ramsey, herein referred to as the “City,” owns various parcels <br />throughout the City of Ramsey; and <br /> <br />WHEREAS, the City approved the terms of a Purchase Agreement for the sale of a Outlot <br />B, COR STONE BROOK ACADEMY (the “Property”), with Stories Foundation, a Minnesota <br />Nonprofit Corporation (the “Developer”) on October 29, 2020; and <br /> <br />WHEREAS, the City approved the terms of a First Amendment to Purchase Agreement <br />for the sale of a Outlot B, COR STONE BROOK ACADEMY, with Stories Foundation, a <br />Minnesota Nonprofit Corporation (the “Developer”) on September 28, 2021; and <br /> <br />WHEREAS, the Developer has cited need for more time to obtain financing and to <br />construct and occupy the 12,000 square foot mixed used project outlined in the Purchase <br />Agreement and First Amendment to Purchase Agreement and has requested that the required <br />Certificate of Occupancy Date be extended from 1 to 2 years after the Closing Date; and <br /> <br />WHEREAS, the Developer will close on Outlot B, COR STONE BROOK ACADEMY <br />by December 31, 2021 subject to title work being completed and closer availability; and <br /> <br />WHEREAS, the Developer agrees to enter into a Right of Re-Entry Agreement with a and <br />understands that if the required Certificate of Occupancy 2 years after the Closing Date is not <br />obtained the City has the right to exercise its right under the Right of Re-Entry Agreement which <br />includes retaking possession of Outlot B, COR STONE BROOK ACADEMY or its platted legal <br />description; and <br /> <br />WHEREAS, the Developer will plat the property as part of the development and the new <br />legal description will be Lot 1, Block 1, Storyteller Café Addition; and <br /> <br />WHEREAS, the purchase price of the Property is $67,953.60; and <br /> <br />WHEREAS, The EDA has reviewed Second Amendment Purchase Agreement and <br />recommends approval; and <br /> <br />WHEREAS, the City herby declares the Property to be surplus City-owned land and is no <br />longer needed for current or future City functions, and authorizes the property to be sold; and <br /> <br />WHEREAS, the formal Purchase Agreement requires a Right-of-Re-Entry Agreement be <br />recorded at the closing of this land transaction; and <br /> <br />