Consider ammendment to Metropolitan Council Loan Agreement No 09-02

Attached to this case is the original loan agreement for the property located at 7665 Trunk Highway 10. This property is located directly adjacent to the proposed Ramsey rail station. The purpose of this case is to allow the modification of the the original loan agreement to utilize a portion of this property for the construction and operation of the Ramsey rail station.

The original agreement restricts the use of the property to highway use and does not allow for the transfer of any property owner rights without the written consent of the Metropolitan Council. They have been contacted and the language in the agreement would allow transfer of easement rights to the Metropolitan Council for the maintenance and operation of the Ramsey rail station at no cost.


Also attached to the case is an easement exhibit to show the impact on the property and document that identifies the requested changes to the language.

Staff recommends approval of  the ammendment to the original loan (L-09-02) to allow for the transfer of permanent and temporary easement for the construction of the Ramsey rail station.

No funding source necessary. Any transfer of property owner rights will be done at no cost.

Staff recommends approval of the ammendment to the original loan (L-09-02) to allow for the transfer of permanent and temporary easement for the construction of the Ramsey rail station.