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2) That the City hereby authorizes the sale of the Property to Capital Real Estate, Inc., a <br />Minnesota Corporation and/or its assigns, for $981,000 which would be reduced to <br />$966,596 if construction of a pylon sign on the Southeast Corner of Armstrong Blvd <br />NW and Bunker Lake Boulevard is not viable and is not approved by the Seller (the <br />“Purchase Price”); subject to contingencies included in the Purchase Agreement. The <br />per square foot cost depending on the option ranges from is $6.74 to $7.00 per square <br />foot; subject to City Attorney review <br /> <br />3) That the City Council hereby authorizes the City Administrator and Mayor to sign any <br />and all documents necessary to close on the sale of the Property, consistent with Charter <br />and State law requirements; subject to City Attorney review <br /> <br />The motion for adoption of the foregoing resolution was duly seconded by Councilmember <br />Olson, and upon vote being taken thereon, the following voted in favor thereof: <br /> <br /> Mayor Heineman <br /> Councilmember Specht <br /> Councilmember Olson <br /> Councilmember Buscher <br /> Councilmember Peters <br /> Councilmember Riley <br /> Councilmember Stewart <br /> <br />and the following voted against the same: <br /> <br /> None <br /> <br />and the following abstained: <br /> <br /> None <br /> <br />and the following were absent: <br /> <br /> None <br /> <br />Whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this <br />th <br />the 14 day of January, 2025. <br /> <br /> <br /> Mayor <br /> <br />ATTEST: <br /> <br /> <br /> <br />City Clerk <br />Resolution #25-006 <br />Page 2 of 3 <br /> <br />