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1) That the City hereby declares the Property to be surplus City -owned land, and authorizes <br />the property to be sold documented in Sales Ordinance 15-05. <br />2) That the City hereby authorizes the sale of the Property to Centra Homes LLC, a Minnesota <br />limited liability company for $671,112.00 ($6,214.00 per approved unit) on +/- 16.3 acres <br />(710,028 square feet) subject to Preliminary and Final Plat for the Property referenced in <br />the Purchase Agreement and First Amendment to Purchase Agreement development of 108 <br />detached townhome units in Waterfront Village. <br />3) That the City Council approves the form of Subordination Agreement and Right of Re - <br />Entry Agreement and authorizes the Mayor and City Administrator to execute said <br />documents. <br />4) That the City hereby authorizes the City Administrator and Mayor to sign any and all <br />documents necessary to close on the sale of the Property, consistent with Charter and State <br />law requirements; subject to City Attorney review. <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />and upon vote being taken thereon, the following voted in favor thereof: <br />and the following voted against the same: <br />and the following abstained: <br />and the following were absent: <br />Whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this <br />the 11 th day of June, 2024. <br />ATTEST: <br />City Clerk <br />Mayor <br />Resolution #24-147 <br />Page 2 of 8 <br />