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<br />Councilmember Stewart introduced the following resolution and moved for its adoption: <br /> <br />RESOLUTION #25-115 <br /> <br />RESOLUTION APPROVING PURCHASE AGREEMENT AND RIGHT OF RE-ENTRY <br />AGREEMENT FOR LOT 1, BLOCK 7, WATERFRONT VILLAGE; ROERS <br />ACQUISITONS LLC <br /> <br /> WHEREAS, the City of Ramsey, herein referred to as the “City,” owns various parcels <br />throughout the City of Ramsey; and <br /> <br />WHEREAS, the City negotiated the terms of Purchase Agreement for the sale of the parcel <br />legally described on Exhibit A (“the Property”), with ROERS ACQUISITONS LLC, a Minnesota <br />Limited Liability Company (the “Buyer”); and <br /> <br />WHEREAS, the City and Buyer have negotiated a Purchase Price of $1,350,000 ($8.00 <br />per square foot) on +/- 3.87 acres (168,577 square feet) which includes a $256,600 contribution <br />for the already constructed Ramsey Parkway north of the Property; and <br /> <br />WHEREAS, the City herby declares the Property to be surplus City-owned land and is no <br />longer needed for current or future City functions, and authorizes the property to be sold; and <br /> <br />WHEREAS, the Purchase Agreement requires a Right-of-Re-Entry Agreement be <br />recorded at the closing of this land transaction; and <br /> <br />WHEREAS, the Ramsey EDA met on May 8, 2025 and unanimously passed a motion to <br />recommend the sale and development of the Property to Roers Acquisitions LLC, a Minnesota <br />Limited Liability Company; and <br /> <br />WHEREAS, Roers Acquisitions LLC is Active and in Good Standing with the Secretary <br />of State of Minnesota as of May 9, 2025. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA <br />COUNTY, STATE OF MINNESOTA, as follows: <br /> <br />1) That the City hereby declares the Property to be surplus City-owned land, and authorizes <br />the property to be sold. <br /> <br />2) That the City hereby authorizes the sale of the Property to Roers Acquisitions LLC, a <br />Minnesota Limited Liability Company for $1,350,000 ($8.00 per square foot) on +/- 3.87 <br />acres (168,577 square feet) for the development of a +/- 193 unit, amenity-rich market-rate <br />apartment with a minimum 5000 square feet of retail. <br /> <br />3) That the City authorizes execution of the Purchase Agreement and Right-of-Re-Entry <br />Agreement to be recorded at the closing of this land transaction. <br /> <br />