Agenda - Council - 08/25/2026 - Laserfiche WebLink

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CC Regular Session Meeting Date: 08/25/2026 Primary Strategic Plan Initiative: Promote economic growth and development. 5. 14. Title Adopt Resolution #26-194 Approving Third Amendment to Lease; Mille Lacs Motor Sports II Inc Purpose/Background: PURPOSE: Approve the attached Third Amendment to Lease with Mille Lacs Motor Sports II, Inc. for use of city -owned RALF land for outside storage space located adjacent to land leased at 6781 Highway 10 NW. BACKGROUND: Mille Lacs Motor Sports II, Inc. primary location in Ramsey is 6781 Highway 10. Mille Lacs Motor Sports II (Powerlodge) has been leasing storage space from the city for several years. This lease is set to expire Auguat 31, 2026. Power Lodge also leases 6701 and 6745 Hwy 10 from MW Properties LLC since 2026. The vacant land used for outside storage by Power Lodge adjacent to 6781 Hwy 10 NW, depicted as Areas A and B, the real estate being considered in the Third Amendment to Lease. The additional 3-month extension being requested will give the City, Met Council and the Buyer (6781 Properties, LLC) time to complete the land transaction without displacing Powerlodge (Mille Lacs). The Met Council has verbally accepted the offer and a purchase agreement will be brought to the City Council at a later meeting once it's been reviewed by the City Attorney and Met Council. If this offer is accepted by the Met Council, there is a strong possibility that the property will continue to be leased to Power Lodge. Notification: N/A Time Frame/Observations/Alternatives: The attached Third Amendment to Lease is an extension of the existing Lease with Mille Lacs Motor Sports II, Inc. for Areas A and B for 3 months until November 30, 2026. The amendments to the lease are highlighted below: 1. Paragraph 3 Term. is hereby replaced in its entirety as follows: Term. The term of this Lease is from: Lease Period: Commencement Date through November 30, 2026. 2. Paragraph 2 Premises. is hereby replaced in its entirety as follows: 2. Premises. Collectively, the "Premises" consists of the following two areas: A. Outdoor storage area "A" consisting of a 22,000 square foot area within a parcel legally described as Tract A, Registered Land Survey No. 249, Anoka County, Minnesota, as shown on Exhibit A (PID 34-32-25-21-0103). B. Outdoor storage area `B" consisting of a 15,000 square foot area within a parcel legally described as Tract A, Registered Land Survey No. 249, Anoka County, Minnesota, as shown on Exhibit A (PID 34-32-25-21-0103). 3. Paragraph 5 Rent. is hereby replaced in its entirety as follows: