Agenda - Council - 05/27/2025 - Laserfiche WebLink

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Councilmember introduced the following resolution and moved for its adoption: RESOLUTION #25-115 RESOLUTION APPROVING PURCHASE AGREEMENT AND RIGHT OF RE-ENTRY AGREEMENT FOR LOT 1, BLOCK 7, WATERFRONT VILLAGE; ROERS ACQUISITONS LLC WHEREAS, the City of Ramsey, herein referred to as the "City," owns various parcels throughout the City of Ramsey; and WHEREAS, the City negotiated the terms of Purchase Agreement for the sale of the parcel legally described on Exhibit A ("the Property"), with ROERS ACQUISITONS LLC, a Minnesota Limited Liability Company (the "Buyer"); and WHEREAS, the City and Buyer have negotiated a Purchase Price of $1,350,000 ($8.00 per square foot) on +/- 3.87 acres (168,577 square feet) which includes a $256,600 contribution for the already constructed Ramsey Parkway north of the Property; and WHEREAS, the City herby 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 Purchase Agreement requires a Right -of -Re -Entry Agreement be recorded at the closing of this land transaction; and WHEREAS, the Ramsey EDA met on May 8, 2025 and unanimously passed a motion to recommend the sale and development of the Property to Roers Acquisitions LLC, a Minnesota Limited Liability Company; and WHEREAS, Roers Acquisitions LLC is Active and in Good Standing with the Secretary of State of Minnesota as of May 9, 2025. NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) That the City hereby declares the Property to be surplus City -owned land, and authorizes the property to be sold. 2) That the City hereby authorizes the sale of the Property to Roers Acquisitions LLC, a Minnesota Limited Liability Company for $1,350,000 ($8.00 per square foot) on +/- 3.87 acres (168,577 square feet) for the development of a +/- 193 unit, amenity -rich market -rate apaitulent with a minimum 5000 square feet of retail. 3) That the City authorizes execution of the Purchase Agreement and Right -of -Re -Entry Agreement to be recorded at the closing of this land transaction.