Agenda - Council - 01/14/2025 - Laserfiche WebLink

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Councilmember introduced the following resolution and moved for its adoption: RESOLUTION #25-008 RESOLUTION APPROVING AMENDED AND RE-STATED RIGHT OF RE-ENTRY AGREEMENT: RAMSEY PROPERTIES, LLC WHEREAS, the City of Ramsey, herein referred to as the "City," owns various parcels throughout the City of Ramsey; and WHEREAS, the City sold Lot 1, Block 1, Ramsey Properties Addition (the "Property"), to Ramsey Properties, LLC, a Minnesota Limited Liability Company(the"Developer")on August 22, 2023; and WHEREAS, the City and Developer entered into a Right of Re-Entry Agreement on the Property filed September 15, 2023 as Document Number 612539.008 and the Office of the Registrar of Titles in Anoka County; and WHEREAS, the Developer has cited need for more time to complete construction and obtain a certificate of occupancy for a 98-unit Hilton Home2 Suites outlined in the Purchase Agreement, First Amendment to Purchase Agreement and Second Amendment to Purchase Agreement and has requested that the required Certificate of Occupancy Date identified in the Right of Re-Entry Agreement be extended from January 22, 2025 to June 30, 2025; and WHEREAS, The EDA and City Attorney have reviewed Amended and Restated Right of Re-Entry Agreement and recommend approval; and WHEREAS, Ramsey Properties, LLC is a company that is active and in good standing as documented in the Office of the Minnesota Secretary of State as of December 23, 2025; and NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) That the City authorizes approval of Amended and Restated Right-of-Re-Entry Agreement with Ramsey Properties, LLC 2) That the City hereby authorizes the City Administrator and Mayor to sign any and all documents necessary to execute the Amended and Restated Right of Re-Entry Agreement, consistent with Charter and State law requirements. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember and upon vote being taken thereon, the following voted in favor thereof: