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<br />Councilmember Musgrove introduced the following resolution and moved for its adoption: <br /> <br />RESOLUTION #23-102 <br /> <br />RESOLUTION APPROVING SECOND AMENDMENT TO PURCHASE AGREEMENT <br />FOR PART OF OUTLOT C, AFFINITY AT THE COR – COR TRUST BANK <br /> <br /> WHEREAS, the City of Ramsey, herein referred to as the “City,” owns various parcels <br />throughout the City of Ramsey; and <br /> <br />WHEREAS, the City Council adopted Resolution #22-186 approving a Purchase <br />Agreement for the sale and adopted Resolution #23-056 Approving a First Amendment to <br />Purchase Agreement of the parcel legally described on Exhibit A (“the Property”), with COR <br />TRUST BANK, N.A., a South Dakota Corporation (the “Buyer”); and <br /> <br />WHEREAS, the City and Buyer have negotiated a Purchase Price of $323,346 ($6.00 per <br />square foot) on +/- 1.5 acres (53,891 square feet) subject to Final Plat for the Property referenced <br />in the Purchase Agreement; and <br /> <br />WHEREAS, the Buyer has requested that the City agree to a Second Amendment to <br />Purchase Agreement that would extend the Inspection Period end date from April 30, 2023 to June <br />30, 2023 to give time to receive Site Plan and Plat Approval; and <br /> <br />WHEREAS, the has submitted a complete site plan and preliminary plat application that <br />will be reviewed at the May 25, 2023 Planning Commission Meeting; and <br /> <br />WHEREAS, the City herby declares the Property to be surplus City-owned land and is no <br />longer needed for current or future City functions, and authorizes the property to be sold; and <br /> <br />WHEREAS, the formal Purchase Agreement requires a Right-of-Re-Entry Agreement be <br />recorded at the closing of this land transaction; and <br /> <br />WHEREAS, COR TRUST BANK, N.A., a South Dakota Corporation is in Good Standing <br />with the Secretary of State of South Dakota, its home jurisdiction. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA <br />COUNTY, STATE OF MINNESOTA, as follows: <br /> <br />1) That the City hereby declares the Property to be surplus City-owned land, and authorizes <br />the property to be sold. <br /> <br />2) That the City hereby authorizes the sale of the Property to COR TRUST BANK, N.A., a <br />South Dakota Corporation for $323,346 ($6.00 per square foot) on +/- 1.24 acres (53,891 <br />square feet) subject to Final Plat for the Property for the development of a minimum 4,500 <br />square foot bank/office. <br /> <br />