Adopt Resolution #22-268 Approving Purchase Agreement and Sale of Parcels 2 and 3, for Ramsey Gateway Project

Purpose:
The purpose of this case is to approve the Purchase Agreement and authorize the sale of Parcels 2 and 3, Anoka County Hwy ROW Plat No.102 to Anoka County for Ramsey Gateway Hwy 10 Project.

Background:
The City of Ramsey acquired the land now known as Parcels 2 and 3, Anoka County Hwy ROW Plat No.102 on November 3, 2011 utilizing funds from the Hwy 10 Right of Way Acquisition Fund (RALF) Program.  The City entered into Loan Agreement L-11-01 with the Met Council. The balance of the Loan is $653,728.00.   Anoka County has presented a purchase agreement to acquire this property acting as the highway authority for the Hwy 10 project.  Staff has worked with Anoka County to modify the Purchase Agreement to meet the needs of the City of Ramsey.  The City Attorney has reviewed the attached Purchase Agreement and recommends approval.

None required

Property acquisition along Hwy 10 for the Ramsey Gateway project has commenced by Anoka County.  Anoka County has presented a purchase agreement to acquire Parcels 2 and 3, Anoka County ROW Plat No 102 from the City of Ramsey.  Because the entire parcel being acquired as part of the Hwy 10 project, the amount of the acquisition is the balance of the RALF Loan amount of $653,728.00. The RALF loan will be paid of as part of the property transaction.  There may be other future sales of RALF properties that the city holds that are based on "Fair Market Value" in the event that they are not needed for the highway project.  Staff supports the sale of Parcels 2 and 3 for the Hwy 10 Ramsey Gateway Project.

The City has provided a Notice of Early Termination of Lease to Todd Bialon on August 9, 2022.  Anoka County has requested that the City agree to terminate the lease early to coincide with Closing of the Real Estate in 2023. The City Attorney as reviewed the Early Termination Lease Agreement and approves it to form.  City Council for approval of execution of this document is included in Resolution #22-268.

Alternatives:
1) Adopt Resolution #22-268 Approving Purchase Agreement and Sale of Parcels 2 and 3, Anoka County Hwy ROW Plat 102 for Ramsey Gateway Project (as presented); subject to City Attorney review.
2) Adopt Resolution #22-268 Approving Purchase Agreement and Sale of Parcels 2 and 3, Anoka County Hwy ROW Plat 102 for Ramsey Gateway Project (with changes); subject to City Attorney review.
3) Something else

There is no cost to the city for this transaction.  The proceeds from the sale will be used to pay of RALF Loan 11-01.  The County of Anoka will be responsible for all the closing costs of this sales transaction.

Staff recommends adoption of Resolution #22-268 Approving Purchase Agreement and Sale of Parcel 2 and 3, Anoka County Hwy ROW Plat 102 for Ramsey Gateway Project (as presented); subject to City Attorney review.

Motion to Adopt Resolution #22-268 Approving Purchase Agreement and Sale of Parcels 2 and 3, Anoka County Hwy ROW Plat 102 for Ramsey Gateway Project (as presented); subject to City Attorney review.