Laserfiche WebLink
<br />Councilmember Riley introduced the following resolution and moved for its adoption: <br /> <br />RESOLUTION #23-125 <br /> <br />RESOLUTION APPROVING SECOND AMENDMENT TO PURCHASE AGREEMENT <br />AND RIGHT OF RE-ENTRY AGREEMENT FOR RAMSEY PROPERTIES, LLC <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, on August 23, 2022 the City approved Resolution #22-185 approving <br />execution and the terms of Purchase Agreement for the sale of Outlot A, Gigi Addition to <br />Schiebout Limited Family Partnership, LLLP and/or its assigns (the “Buyer”); and <br /> <br />WHEREAS, on January 24, 2023 the City approved Resolution #23-034 approving <br />execution and the terms of the First Amendment to Purchase Agreement for the sale of Outlot A, <br />Gigi Addition to Ramsey Properties, LLC and/or its assigns (the “Buyer”); and <br /> <br />WHEREAS, the real estate being sold to the Buyer is amended from Outlot A, Gigi <br />Addition to Part of Outlot A, COR TWO to be platted as Lot 1, Block 1, Ramsey Properties <br />Addition as identified on Exhibit A (the “Property”); and <br /> <br /> WHEREAS, the City and Ramsey Properties, LLC have negotiated a First Amendment <br />to Purchase Agreement for the sale of the Property including a purchase price of $1.00 on +/- <br />2.85 acres (124,146 square feet) as outlined in Exhibit A (the “Purchase Price”). The property <br />valuation is $434,511; 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 as <br />referenced in the underlying legal in Ordinance #15-05. The parent parcel authorized for sale is <br />28-32-25-22-0058; and <br /> <br />WHEREAS, the Purchase Agreement, First Amendment to Purchase Agreement and <br />Second Amendment to Purchase Agreement requires the City and Buyer to execute a Right of Re- <br />Entry Agreement be recorded at the closing of this land transaction; and <br /> <br />WHEREAS, on June 8, 2023. the Ramsey EDA adopted a motion recommending approval <br />to the City Council of the Second Amendment to Purchase Agreement and provision of a land cost <br />write down of $434,511 and Pay-GO TIF of $550,000 for Site Improvements and Site <br />Development on the Property and to extend the Inspection Period from May 26, 2023 to June 30, <br />2023. <br /> <br />WHEREAS, a Right of Re-Entry Agreement is required to be executed by the Purchase <br />Agreement(s). <br /> <br /> <br /> <br />