5.12.
| CC Regular Session |
| Meeting Date: | 05/26/2026 |
| Primary Strategic Plan Initiative: | Promote economic growth and development. |
Title:
Adopt Resolution #26-132 Approving First Amendment to Purchase Agreement for Sale of Lot 1, Block 7, Waterfront Village: Roers Ramsey Apartments I LLC
Purpose/Background:
This Council action is a housekeeping item. The purpose of this case is to assign the buying entity from Roers Acquisition LLC, a Minnesota limited liability company to Roers Ramsey Apartments I LLC, a Delaware limited liability company as permitted in the PA council approved on May 27, 2025. A First Amendment to Purchase Agreement is required to complete this assignment. This is typical for entities that own numerous real estate holdings in one state.
Notification:
None required
Time Frame/Observations/Alternatives:
This Council action is a housekeeping item. The purpose of this case is to assign the buying entity from Roers Acquisition LLC, a Minnesota limited liability company to Roers Ramsey Apartments I LLC, a Delaware limited liability company as permitted in the Purchase Agreement council approved on May 27, 2025. This is typical for entities that own numerous real estate holdings in one state.
The project and terms of the Purchase agreement and Right of Re-Entry Agreement aside from the buying entity remain unchanged from the previously approved Purchase Agreement.
The City Attorney has reviewed the First Amendment to Purchase Agreement and has approved to form, and effectiveness, which is required to complete the assignment.
Alternatives:
1) Adopt Resolution #26-132 Approving First Amendment to Purchase Agreement for Sale of Lot 1, Block 7, Waterfront Village: Roers Ramsey Apartments I LLC; (as presented); subject to City Attorney review
2) Adopt Resolution #26-132 Approving First Amendment to Purchase Agreement for Sale of Lot 1, Block 7, Waterfront Village: Roers Ramsey Apartments I LLC; (as presented); subject to City Attorney review
3) Something Else
The project and terms of the Purchase agreement and Right of Re-Entry Agreement aside from the buying entity remain unchanged from the previously approved Purchase Agreement.
The City Attorney has reviewed the First Amendment to Purchase Agreement and has approved to form, and effectiveness, which is required to complete the assignment.
Alternatives:
1) Adopt Resolution #26-132 Approving First Amendment to Purchase Agreement for Sale of Lot 1, Block 7, Waterfront Village: Roers Ramsey Apartments I LLC; (as presented); subject to City Attorney review
2) Adopt Resolution #26-132 Approving First Amendment to Purchase Agreement for Sale of Lot 1, Block 7, Waterfront Village: Roers Ramsey Apartments I LLC; (as presented); subject to City Attorney review
3) Something Else
Funding Source:
This item is being covered under normal staff duties.
Recommendation:
Staff recommends adoption of Resolution #26-132 Approving First Amendment to Purchase Agreement for Sale of Lot 1, Block 7, Waterfront Village: Roers Ramsey Apartments I LLC; (as presented); subject to City Attorney review
Outcome/Action:
Motion to Adopt Resolution #26-132 Approving First Amendment to Purchase Agreement for Sale of Lot 1, Block 7, Waterfront Village: Roers Ramsey Apartments I LLC; (as presented); subject to City Attorney review
Attachments
- Site Location Map
- ACTION - Resolution #26-132
- ACTION - First Amendment to PA Roers
- ACTION - RORE - Roers
- Reference- Original PA Roers
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Sean Sullivan (Originator) | Sean Sullivan | 05/21/2026 09:42 AM |
| Brian Hagen | Brian Hagen | 05/21/2026 12:15 PM |
- Form Started By:
- Sean Sullivan
- Started On:
- 05/20/2026 12:14 PM
- Final Approval Date:
- 05/21/2026