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Case <br /> <br /> CONSIDER ACQUISITION OF PROPERY <br />ALONG TH #10 NEAR THE NW RIVER CROSSING <br />By James E. Norman <br /> <br />Background: <br /> <br />The City of Ramsey has been involved in a multi-jurisdictional effort to bring about a <br />possible bridge crossing over the Mississippi River and the creation of a new <br />transportation corridor to Interstate 94. As part of those efforts, the City and Anoka <br />County have entered into discussions with property owners, Lawrence and Michelle <br />Boike, on the proposed corridor immediately south of TH #10 (map attached). The <br />property would eventually be used for the construction of an interchange near the NW <br />River Crossing. <br /> <br />The City and Anoka County met with the property owners and presented a purchase <br />agreement that would eventually acquire the property for a total value of $4,481,000 on <br />May 24, 2006 (Purchase Agreement attached). A joint powers agreement between the <br />City of Ramsey and Anoka County will set the terms for sharing the costs has been <br />drafted by the County Attorney's office (Joint Powers Agreement attached). The closing <br />has been scheduled for June 30, 2006. Staff will provide a financing plan for the City <br />Council's consideration on June 13, 2006. <br /> <br />The property owner has requested that the City and County enter into a purchase <br />agreement and that a $10,000 earnest fee be paid which would be applied towards the <br />closing of June 13, 2006. Staff is requesting authorization to execute the purchase <br />agreement with Lawrence and Michelle Boike. <br /> <br />Council Action: <br /> <br />Motion to authorize execution of a purchase agreement for the acquisition of the property <br />of Lawrence and Michelle Boike for corridor acquisition of the NW River Crossing <br />Project. <br /> <br />Reviewed by: <br /> <br />City Administrator <br /> <br /> <br />