Agenda - Council - 08/08/2023 - Laserfiche WebLink

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Councilmember introduced the following resolution and moved for its adoption: RESOLUTION #23-173 RESOLUTION APPROVING PURCHASE AGREEMENT FOR PORTION OF OUTLOT A, COR TWO: CENTRA HOMES WHEREAS, the City of Ramsey, herein referred to as the "City," owns various parcels throughout the City of Ramsey; and WHEREAS, the City negotiated the terms of Purchase Agreement for the sale of the parcel legally described on Exhibit A ("the Property"), with Centra Home LLC, a Minnesota Limited Liability Company (the "Buyer"); and WHEREAS, the City and Buyer have negotiated a Purchase Price of $640,042 ($6,214.00 per approved unit) on +/- 16.3 acres (710,028 square feet) subject to Preliminary and Final Plat for the Property referenced in the Purchase Agreement; 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, the Ramsey EDA recommends the sale and development of the Property to Centra Homes LLC; and WHEREAS, Centra Homes LLC is in Good Standing with the Secretary of State of Minnesota as of July 31, 2023. 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 $640,042 ($6,214.00 per approved unit) on +/- 16.3 acres (710,028 square feet) subject to Preliminary and Final Plat for the Property referenced in the Purchase Agreement development of 103 detached townhome units. 3 ) That the City authorizes execution of the Purchase Agreement and Right -of -Re -Entry Agreement to be recorded at the closing of this land transaction.