Resolution - #23-056 - 03/14/2023

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Councilmember Woestehoff introduced the following resolution and moved for its adoption: RESOLUTION #23-056 RESOLUTION APPROVING FIRST AMENDMENT TO PURCHASE AGREEMENT FOR PART OF OUTLOT C, AFFINITY AT THE COR – COR TRUST BANK WHEREAS, the City of Ramsey, herein referred to as the “City,” owns various parcels throughout the City of Ramsey; and WHEREAS, the City Council adopted Resolution #22-186 approving a Purchase Agreement for the sale of the parcel legally described on Exhibit A (“the Property”), with COR TRUST BANK, N.A., a South Dakota Corporation (the “Buyer”); and WHEREAS, the City and Buyer have negotiated a Purchase Price of $392,040 ($6.00 per square foot) on +/- 1.5 acres (65,340 square feet) subject to Final Plat for the Property referenced in the Purchase Agreement; and WHEREAS, the Buyer has requested that the City agree to a First Amendment to Purchase Agreement that would extend the Inspection Period end date from March 30, 2023 to April 30, 2023 to give time to complete site concept work and to prepare for a submittal for Site Plan and Plat Approval; and WHEREAS, the City herby declares the Property to be surplus City-owned land and is no longer needed for current or future City functions, and authorizes the property to be sold; and WHEREAS, the formal Purchase Agreement requires a Right-of-Re-Entry Agreement be recorded at the closing of this land transaction; and WHEREAS, the Ramsey EDA recommends Approval of the First Amendment to Purchase Agreement for sale and development of the Property to COR TRUST BANK, N.A., a South Dakota Corporation; and WHEREAS, Proof of being in Good Standing in the State of Minnesota for COR TRUST BANK, N.A., a South Dakota Corporation will be required prior to sale of Property to Buyer. NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) That the City hereby declares the Property to be surplus City-owned land, and authorizes the property to be sold.