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! <br />,! <br /> <br />CASE # <br /> <br /> ADOPT ORDINANCE AUTHORIZING THE SALE OF <br />LOT 3, BLOCK 1, GATEWAY NORTH INDUSTRIAL PARK NO. 5, <br />ANOKA COUNTY, MINNESOTA <br /> By: William K. Goodrich, City Attorney <br /> <br />Background: <br /> <br />The City received a letter of intent from W Properties, LLC to purchase Lot 3, Block 1, Gateway North <br />Industrial Park No. 5 and construct a building at a later date. As was stated at the April 22, 2003 City <br />Council meeting, negotiations are currently under way and staff will bring the Development Agreement <br />to the City Council for approval. As a part of the proposed transaction, the City of Ramsey is to convey <br />title to Lot 3, Block 1, Gateway North Industrial Park No. 5 to W Properties, LLC. This sale ordinance <br />was introduced on April 22, 2003, and is now in front of Council for formal adoption. <br /> <br />Recommendation: <br /> <br />Staff' recommends Council adopt the sale ordinance. <br /> <br />Council Action: -~ <br /> <br />Motion to adopt Ordinance #03-K-X authorizing the sale of Lot 3, Block 1, Gateway North Industrial <br />Park No. 5. <br /> <br />Reviewed by: <br /> <br />City Administrator <br />City Attorney <br />Economic development/TIF Specialist <br /> <br />CC: 05/13/03 <br /> <br />-203- <br /> <br />6 <br /> <br /> <br />