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1) That the City hereby declares the Property legally described as Lots 1 and 3, Block 1, <br />Riverside West Rearrangement to be surplus City -owned land, and authorizes the property <br />to be sold. <br />That the City hereby authorizes the sale of the Property legally described as Lots 1 and 3, <br />Block 1, Riverside West Rearrangement to Reliable Holdings, LLC, a Minnesota Limited <br />Liability Company for $200,000 ($3.12 per square foot) on +/- 1.46 acres (63,971 square <br />feet) for the development of a minimum 10,000 square foot office/warehouse building. <br />3) That the City authorizes execution of the amended Right -of -Re -Entry Agreement to be <br />recorded at the closing of this land transaction. <br />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 23rd day of August, 2022. <br />ATTEST: <br />City Clerk <br />Mayor <br />Resolution #22-187 <br />Page 2 of 3 <br />