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Councilmember introduced the following resolution and moved for its adoption: <br />RESOLUTION #22-187 <br />RESOLUTION APPROVING AMENDMENT TO RIGHT OF RE-ENTRY AGREEMENT <br />AND AUTHORIZING THE SALE OF LOTS 1 AND 3, BLOCK 1, RIVERSIDE WEST <br />REARRANGEMENT <br />WHEREAS, the City of Ramsey, herein referred to as the "City," owns various parcels <br />throughout the City of Ramsey; and <br />WHEREAS, the City negotiated the terms of Purchase Agreement and Right of Re -Entry <br />Agreement for the sale of the parcel legally described on Exhibit A ("the Property"), with Reliable <br />Holdings, LLC, a Minnesota Limited Liability Company (the "Developer") and adopted <br />Resolution #22-042 authorizing execution of both documents; and <br />WHEREAS, the City and Developer agreed to a Purchase Price of $200,000 ($3.12 per <br />square foot) on +/- 1.46 acres (63,971 square feet) subject to Final Plat filing of Riverside West <br />Rearrangement for the Property referenced in the Purchase Agreement; and <br />WHEREAS, the Property has been final platted and the legal description of the land to be <br />sold to the Buyer is now legally described as Lots 1 and 3, Block 1, Riverside West Rearrangement; <br />and <br />WHEREAS, the legal description on the Right of Re -Entry Agreement needs to be <br />amended to Lots 1 and 3, Block 1, Riverside West Rearrangement in order to be filed in the Office <br />of the Registrar of Titles; and <br />WHEREAS, the City herby declares the Property legally described as Lots 1 and 3, Block <br />1, Riverside West Rearrangement to be surplus City -owned land and is no longer needed for <br />current or future City functions, and authorizes the property to be sold; and <br />WHEREAS, the fonnal Purchase Agreement requires a Right -of -Re -Entry Agreement be <br />recorded at the closing of this land transaction; and <br />WHEREAS, the Ramsey EDA recommends the modifications to the legal description and <br />project description to the Right of Re -Entry Agreement and the sale and development of the <br />Property to Reliable Holdings, LLC; and <br />WHEREAS, Reliable Holdings, LLC is a company that is active and in good standing as <br />documented in the Office of the Minnesota Secretary of State as of August 12, 2022; and <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA <br />COUNTY, STATE OF MINNESOTA, as follows: <br />