Resolution - #24-084 - 03/26/2024

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Councilmember Riley introduced the following resolution and moved for its adoption: RESOLUTION #24-084 RESOLUTION APPROVING FIRST AMENDMENT TO PURCHASE AGREEMENT WITH NORHART ARCHITECTURE LLC WHEREAS, the City of Ramsey, herein referred to as the "City," owns various parcels throughout the City of Ramsey; and WHEREAS, the City Council adopted Resolution 423-193 approving a Purchase Agreement for the sale of the parcel legally described on Exhibit A("the Property"), with Norhart Architecture LLC, a Minnesota limited liability company (the "Buyer"); and WHEREAS,the City and Buyer have negotiated an amended Purchase Price of$421,993 ($2.50 per square foot) on +/- 3.875 acres (168,797 square feet) subject to filing of Final Plat for the Property referenced in the Purchase Agreement; and WHEREAS,the Buyer has requested that the City agree to a First Amendment to Purchase Agreement that would extend the Inspection Period end date from May 2, 2024 to May 31, 2024 to give time for the Buyer to receive Site Plan and Zoning Approvals; 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 Purchase Agreement requires a Right-of-Re-Entry Agreement be recorded at the closing of this land transaction; and WHEREAS, Norhart Architecture LLC is registered with the Minnesota Office of the Secretary of State and is Active and in Good Standing as of March 18, 2024. 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 Norhart Architecture LLC, a Minnesota limited liability company for $421,993 ($2.50 per square foot) on +/- 3.875 acres (168,797 square feet) subject to Final Plat for the Property for the development of a 223 unit, amenity rich, market rate apartment. 3) That the City authorizes execution of the First Amendment to Purchase Agreement and Right-of-Re-Entry Agreement with legal description depicted on Exhibit A to be recorded at the closing of this land transaction.