Agenda - Council - 05/26/2026 - Laserfiche WebLink

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Notification: The City Council introduced Sales Ordinance 26-10 on May 12, 2026 for Tract B, Registered Land Survey No. 251. Adoption of this ordinance is being considered at the May 26, 2026 City Council Meeting. Time Frame/Observations/Alternatives: The Tenns of the proposed Purchase Agreement and Right of Re -Entry Agreement are below: Real Estate Tax ID Number: 27-32-25-41-0025. Tract B, Registered Land Survey No. 251, Anoka County, Minnesota Address Undetermined - Ramsey, MN 55303 Acreage Approximately 1.93 acres or 84,071 SF Asking Price $1.00 Offer Price $1.00 ($0 / SF) Estimated Cost to bring site to buildable condition and to account for regional stormwater pond upgrades ($640,130), exceeds asking price. Earnest Money $1 Non-refundable upon Notice to Proceed being provided by Developer. Inspection Period 180 days from Effective Date (Date City Council approves) Closing Within 30 days of Notice to Proceed. Commission This was a City generated lead. No Broker Commission to be paid Extensions to Close Developer will deposit $1 in escrow for each 60-day extension (2 extensions allowed) Once extensions are made the money becomes non-refundable. City take care of Preparation of City Closing documents. Staff will work with Title Company to complete. Performance City to require Buyer to construct a minimum 13,500 SF Warehouse building with City Zoning requirements and obtain a Certificate of Occupancy 12 months after Closing. If this is not done, the City may exercise remedies in the Right of Re -Entry Agreement. An additional 36,000 SF building addition will be constructed at a later date and will not be included in the Right of Re -Entry Agreement. Buyer must obtain all required MPCA approvals and easements. Buyer will need to Combine and Plat Property (27-32-25-41-0025) with adjacent property to west (27-32-25-41-0017) prior to construction of 36,000 SF Addition. Assignment Requires city approval if not same owners / company. Contingencies None Review EDA (Sean): Land Transaction/ Purchase Agreement/ Right of Re -Entry Planning Commission (TBD): Land Use, Development Agreement, Site Plan City Council: Final Approval on all items Other Items to consider: • Gets underutilized / exempt property back on tax rolls • 5.1M Investment by existing Ramsey business • No TIF or financial incentives • Allows City of Ramsey business to expand • Up to 49,500 SF of new building upon completion of both buildings • 5 New jobs with average wages of $27.50 expected to be created (not a requirement) • New annual Property taxes estimated to be $100,000 annually upon full completion (56K a year for City) The City Attorney has reviewed the Purchase Agreement and Right of Re -Entry Agreement and has approved them as to form. Alternatives: 1) Adopt Resolution #26-127 Approving Purchase Agreement, Right of Re -Entry Agreement and Sale of City Property to LH Road, LLC (as presented); subject to City Attorney review 2) Adopt Resolution #26-127 Approving Purchase Agreement, Right of Re -Entry Agreement and Sale of City Property to LH Road, LLC (with changes); subject to City Attorney review 3) Something else Funding Source: