Agenda - Council - 02/25/2025 - Laserfiche WebLink

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