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-~32- <br /> <br />Motion carried. Voting Yes: <br />Anderson. Voting No: None. <br /> <br />Mayor Gamec, Councilmembers Hendriksen, Kurak, and <br /> <br />Case #5: <br /> <br />Request for Site Plan Review of Rivenwick 3ra Addition: Case of Turtle <br />Moon, Inc. <br /> <br />Item was tabled. <br /> <br />Case #6: <br /> <br />Request to Rezone Certain Property from B-1 Business to R-2 Medium <br />Density Residential: Case of Turtle Moon, Inc. <br /> <br />Item was tabled. <br /> <br />Case #7: AcquisitiOn of Lot 1, Block 2, A.E.C. Energy Park <br /> <br />City AttorneY Goodrich noted that there was no attempt of the City to acquire the lot. He <br />expla/ned that the City currently is a party in a development agreement with Direct Enclosures <br />and Connexus Energy that was executed July 21, 1999. The deVelopment agreement is in effect <br />until July 31, ·2002, The terms of this agreement state that the above described property needs to <br />generate at least $13,500 in tax increment per year. Recently, Direct Enclosures has put the <br />building up for sale and has located a buyer. Class C Components, a business from Brooklyn <br />Park would like to purchase the property. The holding company that wishes to purchase the <br />property and building is North Suburban Management, LLC. There are. other parties interested in <br />the building and a sale to a specific party has not been finalized. The development agreement <br />and the terms of the agreement must be transferred to the new entity to guarantee that the City <br />received the increment necessary to fulfill the financial obligations of the development <br />agreement. An assUmption agreement executed by Connexus, Direct EnclOsures, the City of <br />Ramsey, and the potential buyer, would effectively transfer the development agreement to the <br />new business. The City Attorney and staff shall· obtain a Certificate of good standing and <br />adequate financial information from the prospective buyer to insure that..the business is solvent <br />and is stable from a business standpoint: This is done to assure the City Council that the business <br />is solid and that there shouldn't be any foreseeable problems with performance under the <br />development agreement, The closing for the proposed sale °fthe property is unclear but staff <br />was seeking approval of the sale of the property and building and to enter into an assumption <br />agreement with any qualifying buSiness. <br /> <br />Motion by Councilmember Hendriksen, seconded by C°uncilmember Anderson, to direct staff to <br />enter into an assumption agreement to transfer the DeVelopment Agreement from Direct <br />Enclosures to a qualifying candidate subject to City Attorney approval. <br /> <br />Motion carriedl Voting Yes: <br />Kurak. Voting No: None. <br /> <br />Mayor Gamec, and Councilmembers HendrikSen, Anderson, and <br /> <br />Case #8: Review and Adopt 2003 Schedule of Rates, Fees and Charges <br /> <br />City Council/November 12, 2002 <br /> Page 17 of 22 <br /> <br />I <br />I <br />I <br /> <br />I <br /> <br />I <br /> <br /> <br />