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<br />CASE# 13 <br /> <br />SALE OF LOT 1, BLOCK 4, GATEWAY NORTH INDUSTRIAL PARK PLAT 2 <br /> <br />By: Sean Sullivan, Economic Development Coordinator <br /> <br />. Background: <br /> <br />Staff has been directed by the EDA to facilitate development and redevelopment activities in the <br />City's Development District No. 1. The City acquired the property located at 14050 Basalt St <br />NW in 2005 and spent the past year having the contaminated site cleaned-up with a $295,000 <br />grant from the Metropolitan Council. Ace Solid Waste approached the City in 2006 and <br />expressed interest in purchasing the parcel adjacent to its existing site and the Ramsey EDA <br />supported this action. The sales price of $286,000 is consistent appraised values in the industrial <br />area near this parcel. Ace Solid Waste anticipates expansion of its existing facility to include <br />either a 12,000 transfer station or a 12,000 shop. Staff recommends the sale of the former Saint <br />Paul Terminals site to Ace Solid Waste according to the terms and conditions of the attached <br />purchase agreement. <br /> <br />Funding Source: Not Applicable. The cost for the original acquisition of $315,000 (which <br />included a building cost) was paid from Tax Increment Financing District No.2. A $295,000 <br />grant was awarded to Ramsey to clean-up the environmental contamination on the site. <br /> <br />Recommendation: <br /> <br />Staff recommends that City Council enter into the attached purchase agreement and to sell Lot 4, <br />Block 1, Gateway North Industrial Park Plat 2. to Ace Solid Waste. <br /> <br />Council Action: <br /> <br />Motion for City to enter into the attached purchase agreement and to sell Lot 4, Block 1, <br />Gateway North Industrial Park Plat 2 to Ace Solid Waste. <br /> <br />Reviewed by: <br />Community Deve <br /> <br />CA e~ <br /> <br /> <br />CC: 09.25.07 <br /> <br /> <br />-365- <br />