Agenda - Council - 11/22/2022 - Laserfiche WebLink

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CC Regular Session 5. 13. Meeting Date: 11/22/2022 By: Sean Sullivan, Community Development Information Title Adopt Resolution #22-267 Approving Purchase Agreement and Sale of RALF Parcels 4 and 27 For Ramsey Gateway Hwy 10 Project Purpose/Background: Purpose: The purpose of this case is to approve the Purchase Agreement and authorize the sale of Parcels 4 and 27 Anoka County Hwy ROW Plat No.102 to Anoka County for the Ramsey Gateway Hwy 10 Project. Background: The City of Ramsey acquired Parcel 4 on June 16, 2009 from Clint Wilson utilizing funds from the Hwy 10 Right of Way Acquisition Fund (RALF) Program. The City entered into Loan Agreement L-09-02 with the Met Council. The current Loan balance of L-09-02 is $1,011,533.00. The City of Ramsey acquired Parcel 27 on July 24, 2009 from Holiday Station Stores utilizing funds from the Hwy 10 Right of Way Acquisition Fund (RACE) Program. The City entered into Loan Agreement L-09-04 with the Met Council. The current Loan balance of L-09-04 is $935,246.00. Anoka County has presented a purchase agreement to acquire both parcels acting as the highway authority for the Hwy 10 project. Staff has worked with Anoka County to modify the Purchase Agreement to meet the needs of the City of Ramsey. The City Attorney has reviewed the attached Purchase Agreement and recommends approval. Notification: None required Observations/Alternatives: Property acquisition along Hwy 10 for the Ramsey Gateway project has commenced by Anoka County. Anoka County has presented a purchase agreement to acquire Parcels 4 and 27, Anoka County ROW Plat No 102 from the City of Ramsey. Because the entire parcels being acquired will be used for highway purposes, the amount of each acquisition is the balance of the RALF Loan amount for each parcel. There may be other future sales of RALF properties that the city holds that are based on "Fair Market Value" in the event that they are not needed for the highway project. There may be documents pertaining to the transfer of the Rail Station Easement, and/or release of covenants that could be a part of this transaction. The attached resolution give the City the authority to execute these documents, if needed, pending City Attorney review and approval. Staff supports the sale of Parcels 4 and 27 for the Ramsey Gateway Hwy 10 project. Alternatives: 1) Adopt Resolution #22-267 Approving Purchase Agreement and Sale of Parcels 4 and 27, Anoka County Hwy ROW Plat 102 for Ramsey Gateway Project (as presented); subject to City Attorney review. 2) Adopt Resolution #22-267 Approving Purchase Agreement and Sale of Parcels 4 and 27, Anoka County Hwy ROW Plat 102 for Ramsey Gateway Project (with changes); subject to City Attorney review. 3) Something else Funding Source: There is no cost to the city for this transaction. The proceeds from the sale will be used to pay of RALF Loans L09-02 and L09-04. The County of Anoka will be responsible for all the closing costs of this sales transaction.