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Councilmember Howell introduced the following resolution and moved for its adoption: <br /> RESOLUTION #24-252 <br /> RESOLUTION APPROVING FIRST AMENDMENT TO PURCHASE AGREEMENT, <br /> RIGHT OF RE-ENTRY AGREEMENT AND DEVELOPMENT AGREEMENT FOR LOT <br /> 2, BLOCK 1, COR FOUR: T5 RAMSEY LLC (TAKE 5) <br /> WHEREAS, the City of Ramsey, herein referred to as the "City," owns various parcels <br /> throughout the City of Ramsey; and <br /> WHEREAS, on February 26, 2024, the City adopted Resolution 424-061 approving a <br /> Purchase Agreement and Right of Re-Entry Agreement for the sale and development of Lot 2, <br /> Block 1, COR FOUR (the "Property") to GARAGE RE LLC, a Minnesota limited liability <br /> company and/or its assigns (the "Buyer") on February 26, 2024; and <br /> WHEREAS, on August 12, 2024, the City adopted Resolution 424-210 approving a Final <br /> Plat for GH Ramsey and a Development Agreement for Garage RE LLC, doing business as Take <br /> 5 Oil Change on Lot 2, Block 1, COR FOUR (the "Property"); and <br /> WHEREAS, the Buyer has notified the City the Purchasing/Owner entity has been <br /> assigned from Garage RE LLC, a Minnesota Limited Liability Company to T5 Ramsey LLC, a <br /> Minnesota Limited Liability Company and the business/ownership entity name in purchase <br /> agreement needs to be changed to T5 Ramsey LLC in the First Amendment to Purchase <br /> agreement; all other terms of the purchase agreement remain unchanged; and <br /> WHEREAS,the Buyer has notified the City the Purchasing/Owner entity has been assigned <br /> from Garage RE LLC, a Minnesota Limited Liability Company to T5 Ramsey LLC, a Minnesota <br /> Limited Liability Company and the legal description on the Right of Re-Entry Agreement needs <br /> to be changed from Lot 2, Block 1, COR FOUR to Lot 1, Block 1, GH Ramsey and the <br /> business/ownership entity name needs to be changed to T5 Ramsey LLC; all other terms of the <br /> right of re-entry agreement remain unchanged; and <br /> WHEREAS, the Permittee has notified the City the Purchasing/Owner entity has been <br /> assigned from Garage RE LLC, a Minnesota Limited Liability Company to T5 Ramsey LLC, a <br /> Minnesota Limited Liability Company and Permittee business/entity name needs to be changed <br /> to T5 Ramsey LLC, and the legal description changed to Lots 1 and 2, Block 1 GH Ramsey; all <br /> other terms of the development agreement remain unchanged; and <br /> WHEREAS, the City will sell Lot 2, Block 1, COR FOUR (the "Property), to T5 Ramsey <br /> LLC for $279,236 on+/- 1.16 acres (50,529 square feet) legally described on attached Exhibit A <br /> (the "Purchase Price") subject to contingencies included in the Purchase Agreement and T5 <br /> Ramsey will plat the Property into Lots 1 and 2, Block 1, GH Ramsey; and <br /> WHEREAS, T5 Ramsey LLC (Take 5) agrees to construct a 20-space parking lot on the <br /> northern portion of Lot 1, Block 1, COR TWO NORTHSTAR as depicted on the concept site plan <br /> attached to the Original Purchase Agreement; and <br />