Laserfiche WebLink
<br />Councilmember Howell introduced the following resolution and moved for its adoption: <br /> <br />RESOLUTION #23-145 <br /> <br />RESOLUTION APPROVING AMENDED AND RE-STATED RIGHT OF RE-ENTRY <br />AGREEMENT: STORIES FOUNDATION <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 sold Outlot B, COR STONE BROOK ACADEMY (the “Property”), <br />to Stories Foundation, a Minnesota Nonprofit Corporation (the “Developer”) on December 29, <br />2021; and <br /> <br />WHEREAS, the City and Developer entered into a Right of Re-Entry Agreement on the <br />Property filed December 29, 2021 as Document Number 596876.003 and the Office of the <br />Registrar of Titles in Anoka County; and <br /> <br />WHEREAS, the Developer has cited need for more time to fundraise and obtain financing <br />to construct and occupy the 12,000 square foot mixed used project outlined in the Purchase <br />Agreement, First Amendment to Purchase Agreement and Second Amendment to Purchase <br />Agreement and has requested that the required Certificate of Occupancy Date identified in the <br />Right of Re-Entry Agreement be extended from December 31, 2023 to December 31, 2024; and <br /> <br />WHEREAS, The EDA has reviewed Amended and Restated Right of Re-Entry Agreement <br />subject to new Site Plan Approval, Development Agreement Approval and Final Plat Approval; <br />subject to City Attorney review; and <br /> <br />WHEREAS, Stories Foundation is a company that is active and in good standing as <br />documented in the Office of the Minnesota Secretary of State as of June 21, 2023; and <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 authorizes approval of Amended and Restated Right-of-Re-Entry Agreement <br />subject to the following contingencies: <br /> <br />a. New Site Plan Approval, Development Agreement Approval and Final Plat Approval. <br />b. City Attorney review. <br /> <br />2) That the City hereby authorizes the City Administrator and Mayor to sign any and all <br />documents necessary to execute the Amended and Restated Right of Re-Entry Agreement, <br />consistent with Charter and State law requirements. <br /> <br /> <br /> <br />