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CASE # <br /> <br /> CONSIDER ASSISTANCE FOR JAMES DEAL FOR <br />ACQUISITION OF PROPERTY WITHIN RAMSEY TOWN CENTER <br />By: James E. Norman <br /> <br />Background: <br /> <br />The City Administrator was contacted by James Deal, who curremly owns two blocks of office <br />property north of Sunwood Drive and the Enterprise Park of Ramsey Town Cemer. Mr. Deal <br />sold his former NAU Building on T.H. #I0 in a land exchange last year and the City purchased <br />that property through the RALF Program. The City has currently been making efforts to acquire <br />the second property, Anchor's Away; however, it has taken considerable more time than had <br />been anticipated. The City began making efforts to acquire the property through the RALF <br />Program during the fall of 2005; however, because of RALF Funding problems, the acquisition <br />was delayed until just recently. <br /> <br />Mr. Deal has agreed to a price to acquire Outlot FF from RTC, LLC (map attached). Mr. Deal <br />has requested that the funding for the sale of his Anchor's Away building be expedited, however, <br />it appears that the sale of that property will not be completed until late in the month of May. Mr. <br />Deal will be making a request for interim financing assistance to acquire Outlot FF of the <br />Ramsey Town Center. <br /> <br />Staff will attempt to have information by the Council meeting to determine if such an interim <br />financing is available and appropriate. <br /> <br />Council Action: <br /> <br />Motion to provide/not provide financial assistance to James Deal for acquisition of Outlot FF of <br />Ramsey Town Center. <br /> <br />Reviewed by: <br /> <br />City Administrator <br />Finance Officer <br /> <br />Special CC: 05/02/06 <br /> <br /> <br />