7.6.
CC Regular Session
- Meeting Date:
- 05/27/2014
- By:
- Ted LaFrance, Administrative Services
Information
Title:
Review Purchase Agreement for 5195 142nd Ave NW (portions may be closed to the public)
Purpose/Background:
The purpose of this case is to review a Purchase Agreement for 5195 142nd Ave NW (Old Amoco gas station) for the development of a national retail store by Imperial Development Company, LLC.
The City of Ramsey purchased the property in 2005 to facilitate development and redevelopment in the area. The site was a former Amoco Oil gas station; the building was subsequently demolished after purchase by the City of Ramsey. Staff is working with Northern Technologies, whom was involved in the environmental assessment of the property in 2005, to ensure the City is properly protected should it sell the property. Amoco Oil, now BP Products North America Inc., required certain restrictions be placed on the property to remain in place for a period of 15 years-- terminating in 2020. BP also required waiving all liability from BP as a part of the purchase. These restrictions include but are not limited to; no water wells can be installed, no use as a service station or convenience store, no use for residential, no use for childcare, no use for elder care facilities, no use for a medical or dental facility, limited excavation can occur, no use as a restaurant, etc.
The proposed use is allowed, per the current zoning code and the above mentioned restrictive covenants. The proposed use may require a variance for parking.
This Purchase Agreement review does include negotiation of price and terms of the sale. In order for the Council and City of Ramsey to remain competitive in its negotiations with prospective buyers, Staff is recommending the Council close the session to discuss these specific terms.
The City of Ramsey purchased the property in 2005 to facilitate development and redevelopment in the area. The site was a former Amoco Oil gas station; the building was subsequently demolished after purchase by the City of Ramsey. Staff is working with Northern Technologies, whom was involved in the environmental assessment of the property in 2005, to ensure the City is properly protected should it sell the property. Amoco Oil, now BP Products North America Inc., required certain restrictions be placed on the property to remain in place for a period of 15 years-- terminating in 2020. BP also required waiving all liability from BP as a part of the purchase. These restrictions include but are not limited to; no water wells can be installed, no use as a service station or convenience store, no use for residential, no use for childcare, no use for elder care facilities, no use for a medical or dental facility, limited excavation can occur, no use as a restaurant, etc.
The proposed use is allowed, per the current zoning code and the above mentioned restrictive covenants. The proposed use may require a variance for parking.
This Purchase Agreement review does include negotiation of price and terms of the sale. In order for the Council and City of Ramsey to remain competitive in its negotiations with prospective buyers, Staff is recommending the Council close the session to discuss these specific terms.
Recommendation:
Review and consider adjustments to the draft purchase agreement between the City of Ramsey and Imperial Development Company, LLC. Staff recommends closing the session per MN Statute 13D.05 Subd. 3 to discuss price and terms of sale.
Action:
Motion to move into closed session per MN Stature 13D.05 Subd. 3 to review the draft purchase agreement between the City of Ramsey HRA and a national retailer to discuss price and terms of sale.
Attachments
No file(s) attached.
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Kurt Ulrich | Kurt Ulrich | 05/22/2014 08:48 AM |
- Form Started By:
- tlafrance
- Started On:
- 05/14/2014 04:08 PM
- Final Approval Date:
- 05/22/2014