Agenda - Council - 10/27/2026 - Laserfiche WebLink

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Councilmember introduced the following resolution and moved for its adoption: RESOLUTION #26-240 RESOLUTION APPROVING RELEASE OF AGREEMENT AND RESTRICTIVE COVENANT — 6781 PROPERTIES LLC WHEREAS, the City of Ramsey, herein referred to as the "City," acquired various parcels acquired utilizing the Right of Way Acquisition Loan Fund (RALF) for the purposes relating to construction of future Hwy 10 improvements the City of Ramsey; and WHEREAS, the City acquired the parcel known as Tract A, Registered Land Survey No, 249 on August 6, 2009 (the "Property") on attached Exhibit A utilizing RALF Funds for the Hwy 10 project; and WHEREAS, the City has leased the Property to Mille Lacs Motor Sports 1I, Inc. (Power Lodge), and it has a lease with the City that terminates November 30, 2026 or the time of sale to 6781 Properties LLC and is in good standing with the City; and WHEREAS, 6781 Properties, LLC has been working with Mille Lacs Motor Sport II, Inc. and has extended the lease to accommodate the due diligence period and closing defined in the Purchase Agreement with 6781 Properties, LLC; and WHEREAS, the City has executed a Purchase Agreement with 6781 Properties. LLC to acquire the Property and the Met Council has approved the terms and conditions of the Purchase Agreement and Release of Agreement and Restrictive Covenant; and WHEREAS, the Release of Agreement and Restrictive Covenant will satisfy the Met Council requirements of RALF Loan L09-05; and NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) The Council hereby releases and terminates the Agreement and Restrictive Covenant, dated December 3, 2012, recorded March 18, 2013, as Document No. 514444.002 in the Office of the Anoka County Property Tax Administrator/Recorder/Registrar of Titles, with respect to the Property, legally described as Tract A, Registered Land Survey No. 249, Anoka County and authorizes the Mayor and City Administrator to execute the Release of Agreement and Restrictive Covenant. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember , and upon vote being taken thereon, the following voted in favor thereof: