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2) That the City hereby authorizes the sale of the Property to Java Companies L.L.C. or <br /> Assigns, for $4.50 per square foot on +/- 6.97 acres (303,613 square feet) subject to a lot <br /> split as approved in Final Plat for the Property referenced in the Purchase Agreement for <br /> the development of five retail/office buildings depicted on Exhibit B in the Purchase <br /> Agreement. <br /> 3) That the City authorizes execution of the First Amendment to Purchase Agreement and <br /> requires aRight-of-Re-Entry Agreement to be recorded at the closing of this land <br /> transaction. <br /> 4) That the City hereby authorizes the City Administrator and Mayor to sign any and all <br /> documents necessary to close on the sale of the Property, consistent with Charter and State <br /> law requirements. <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 /> and the following abstained: <br /> and the following were absent: <br /> Whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this <br /> the 26th day of July, 2022. <br /> Mayor <br /> ATTEST: <br /> City Clerk <br /> Resolution#22-161 <br /> Page 2 of 3 <br />