Laserfiche WebLink
Councilmember Peters introduced the following resolution and moved for its adoption: <br /> <br />RESOLUTION #26-137 <br /> <br />RESOLUTION APPROVING THE ASSIGNMENT OF DEVELOPMENT <br />AGREEMENTS <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 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 /> <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 Buyer’s Lender has requested the City approve the Assignment of <br />Development Agreements; and <br /> <br />WHEREAS, the City Attorney has reviewed the Assignment of Development Agreements <br />and has approved it as to form. <br /> <br />WHEREAS, Roers Ramsey Apartments I LLC is Active and in Good Standing with the <br />Secretary of State of Minnesota as of June 4, 2026. <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 and approves the Assignment of Development Agreements by and <br />between the City of Ramsey, Roers Ramsey Apartments I LLC, a Delaware limited liability <br />company and First Bank & Trust, a South Dakota banking corporation and authorizes the <br />City Administrator and Mayor to execute the assignment. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />Olson, and upon vote being taken thereon, the following voted in favor thereof: <br /> <br /> Mayor Heineman <br /> Councilmember Peters <br /> Councilmember Olson <br /> Councilmember Buscher <br /> Councilmember Riley <br /> Councilmember Specht <br /> Councilmember Stewart <br /> <br />