Agenda - Economic Development Authority - 06/11/2026

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Economic Development Authority (EDA) Meeting Date: 06/11/2026 Primary Strategic Plan Initiative: Promote economic growth and development. 4. 1. Title: Consider Purchase Agreement and Sale of Part of Outlot A, Java Auto Parts to Harlow Beckett Enterprises LLC (Scooters Coffee) (portions may be closed to the public) Purpose/Background: The EDA may choose to go into closed session pursuant to Minnesota Statutes section 13D.05, subdivision 3(c)(3) to consider offers or counteroffers for the purchase or sale of real or personal property. If the EDA chooses to enter into to closed session the statute and reason above needs to be referenced along with legal description (Part of Outlot A, Java Auto Parts) and the Anoka County Tax ID number 28-32-25-41-0024. This parcel is also known as Parcel 50c. The purpose of this case is to consider the sale of Part of Outlot A, Java Auto Parts to Harlow Beckett Enterprises LLC (Scooters Coffee) to build a 664 sf coffee shop. The City of Ramsey, CBRE and representatives from the Developer have negotiated the attached Term Sheet, PA and Right of Re -Entry for EDA review. The site is properly zoned for the proposed use. This project will need a drive-thru which will require a conditional use permit. Notification: None required Time Frame/Observations/Alternatives: Attached to this case is a preliminary layout of the Scooters Coffee site. The City and Buyer have negotiated the following items on the Term sheet listed below: Real Estate Tax ID Number: Portion of 28-32-25-41-0024. Part of Outlot A, Java Auto Parts (Part of Parcel 50C) Buyer Harlow Becket Enterprises LLC, a Minnesota limited liability company Acreage Approximately + / - 0.76 acres Subject to Final Plat Asking Price $265,000 ($8.00 / SF) (SF Subject to change based on approved Plat) Offer Price $265,000 ($8.00 / SF) (SF Subject to change based on approved Plat) Earnest Money $10,000. Non-refundable upon Notice to Proceed being executed. Inspection Period 180 days from the later of Effective Date (Date City Council approves) or a fully executed PA is delivered to Buyer (city requires plat / site plan approval before sale) Closing Within 30 days of Notice to Proceed. Commission Per the terms of the City listing agreement with CBRE, the City will pay 4% of gross sales price to CBRE and 3% to Turpin Realty, INC. Extensions to Close Buyer will deposit $5,000.00 in escrow for each 60-day extension (2 extensions allowed) Once extensions are made the money becomes non-refundable. City take care of Provide existing ALTA Survey for parent site and updated Title Work. The Buyer will contract to plat the property as part of the Land Use application process Performance City to require construction of commercial/retail buildings compliant with COR Zoning requirements and obtain a Certificate of Occupancy 12 months after Closing. The Buyer will enter into a Right