Agenda - Council - 05/09/2023 - Laserfiche WebLink

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Councilmember introduced the following resolution and moved for its adoption: RESOLUTION #23-102 RESOLUTION APPROVING SECOND 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 and adopted Resolution #23-056 Approving a First Amendment to Purchase Agreement 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 $323,346 ($6.00 per square foot) on +/- 1.5 acres (53,891 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 Second Amendment to Purchase Agreement that would extend the Inspection Period end date from April 30, 2023 to June 30, 2023 to give time to receive Site Plan and Plat Approval; and WHEREAS, the has submitted a complete site plan and preliminary plat application that will be reviewed at the May 25, 2023 Planning Commission Meeting; 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, COR TRUST BANK, N.A., a South Dakota Corporation is in Good Standing with the Secretary of State of South Dakota, its home jurisdiction. 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. 2) That the City hereby authorizes the sale of the Property to COR TRUST BANK, N.A., a South Dakota Corporation for $323,346 ($6.00 per square foot) on +/- 1.24 acres (53,891 square feet) subject to Final Plat for the Property for the development of a minimum 4,500 square foot bank/office.