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Councilmember introduced the following resolution and moved for its adoption: <br />RESOLUTION #26-132 <br />RESOLUTION APPROVING FIRST AMENDMENT TO PURCHASE AGREEMENT <br />AND RIGHT OF RE-ENTRY AGREEMENT FOR LOT 1, BLOCK 7, WATERFRONT <br />VILLAGE; ROERS RAMSEY APARTMENTS I LLC <br />WHEREAS, the City of Ramsey, herein referred to as the "City," owns various parcels <br />throughout the City of Ramsey; and <br />WHEREAS, the City adopted Resolution #25-115 approving a Purchase Agreement for <br />the sale of the parcel legally described on Exhibit A ("the Property"), with ROERS <br />ACQUISITONS LLC, a Minnesota Limited Liability Company (the "Buyer") on May 27, 2025; <br />and <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 />WHEREAS, the Buyer has requested assignment of the Purchase Agreement to Roers <br />Ramsey Apartment I LLC, a Delaware limited liability company (Assignee) as permitted in the <br />terms of the original Purchase Agreement which also need to be amended in the limited warranty <br />deed, and right of re-entry agreement; and <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 />WHEREAS, the Purchase Agreement requires a Right -of -Re -Entry Agreement be <br />recorded at the closing of this land transaction; and <br />WHEREAS, Roers Acquisitions LLC is Active and in Good Standing with the Secretary <br />of State of Minnesota as of May 20, 2026. <br />WHEREAS, Roers Ramsey Apartments I LLC is Active and in Good Standing with the <br />Secretary of State of Minnesota as of May 20, 2026. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA <br />COUNTY, STATE OF MINNESOTA, as follows: <br />1) That the City hereby declares the Property to be surplus City -owned land, and authorizes <br />the property to be sold. <br />That the City hereby authorizes the assignment and sale of the Property to Roers Ramsey <br />Apartments I LLC, a Delaware limited liability company for $1,350,000 ($8.00 per square <br />