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<br />Recommendation: <br /> <br />Enter into the purchase agreement and approve the Loan Agreement. <br /> <br />Council Action: <br /> <br />Motion to enter into a purchase agreement with Lora G. Hamilton and Edward L. Hamilton and <br />Winslow Holasek and Corinne M. Holasek for the purchase of the parcel of land located at 6165 <br />and 6205 Highway 10 NW, Ramsey, Minnesota, for a purchase price of $480,000.00 plus an <br />Administrative Settlement of $15,000.00 for a total purchase price of $495,000.00 which amount is <br />to be funded by a Metropolitan Council RALF loan. This motion is contingent on formal approval <br />by the Metropolitan Council approving the purchase and the purchase price. <br /> <br />-AND- <br /> <br />Motion to authorize the City to enter into a Loan Agreement between the Metropolitan Council and <br />the City of Ramsey for Protective Acquisition of Highway Right-of-Way for the Hamilton/Holasek' <br />site located at 6165 and 6205 Highway 10 NW in the City in an amount not to exceed $495,000.00 <br />plus administrative expenses. <br /> <br />Review Checklist: <br /> <br />City Attorney <br />Economic Development Coordinator <br />City Administrator <br /> <br />CC: 09.25.07 <br /> <br />-342- <br />