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Councilmember introduced the following resolution and moved for its adoption: <br /> RESOLUTION #24-179 <br /> RESOLUTION APPROVING PURCHASE AGREEMENT WITH OAK TERRACE <br /> ESTATES LLC <br /> WHEREAS, the City of Ramsey, herein referred to as the "City," owns various parcels <br /> throughout the City of Ramsey; and <br /> WHEREAS, the City negotiated the terms of Purchase Agreement for the sale of real <br /> property legally described in Exhibit A, attached hereto (the "Property") to Oak Terrace Estates, <br /> LLC, a Minnesota limited liability company(the "Buyer"); and <br /> WHEREAS, the City acquired the Property on April 5, 2005 utilizing the Met Council <br /> Right Away Acquisition Fund(RALF) for future Hwy 10 improvements identified as Loan 05-02; <br /> and <br /> WHEREAS, the location of Hwy 10 improvements has been finalized and the Property is <br /> no longer needed to complete the project; and <br /> WHEREAS, the City received Met Council approval for sale of the Property for a price <br /> of$43,460 with all sales proceeds to be transferred to the RALF Program and to be allocated to <br /> payment of Loan 05-02; and <br /> WHEREAS,the City Council is required to approve the amended Site Plan dared February <br /> 211 2023 pursuant to Chapter 109 of City Code which includes the addition of a total of six <br /> additional units on the Property and adjacent to the Property; and <br /> WHEREAS, the City hereby declares the Property to be surplus City-owned land and is <br /> no longer needed for current or future City functions, and authorizes the property to be sold; and <br /> WHEREAS, the Oak Terrace Estates, LLC is a company that is active and in good <br /> standing as documented in the Office of the Secretary of State as of June 28, 2024. <br /> NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA <br /> COUNTY, STATE OF MINNESOTA, as follows: <br /> 1) The City Council authorizes the City Administrator and Mayor to execute the Purchase <br /> Agreement with Oak Terrace Estates, LLC; subject to City Attorney review. <br /> 2) That the City hereby authorizes the sale of the Property to Oak Terrace Estates, LLC, a <br /> Minnesota limited liability company, for $43,460 legally described on Exhibit A (the <br /> "Purchase Price"); subject to City Attorney review. <br /> 3) That the City Council hereby authorizes the City Administrator and Mayor to sign any <br />