Resolution - #25-046 - 02/25/2025

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Councilmember Riley introduced the following resolution and moved for its adoption: RESOLUTION #25-046 RESOLUTION APPROVING ASSIGNMENT AND ASSUMPTION AGREEMENT AND EASEMENT WITH OAK TERRACE ESTATES LLC WHEREAS, the City of Ramsey, herein referred to as the "City," owns various parcels throughout the City of Ramsey; and WHEREAS, the City executed a Purchase Agreement dated July 25, 2024 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") through Resolution 424-179; 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, on July 9, 2024, the City Council approved the amended Site Plan dated February 21, 2023 pursuant to Chapter 109 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, Oak Terrace Estates, LLC has requested that the Purchase Agreement dated July 25, 2024 be assigned to Ramsey Park Outlot, LLC through an Assignment and Assumption Agreement reviewed and approved by the City Attorney; and WHEREAS, the Oak Terrace Estates, LLC and Ramsey Park Outlot, LLC are companies that are active and in good standing as documented in the Office of the Secretary of State as of February 18, 2025. NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) The City Council acknowledge the Assignment and Assumption Agreement assigning the Buyer interest from Oak Terrace Estates, LLC to Ramsey Park Outlot, LLC;