5.1.
HRA Regular Session
- Meeting Date:
- 03/26/2013
- By:
- Tim Gladhill, Community Development
Information
Title:
Consider Offer to Purchase Property at Sunwood Drive and Peridot Street (Portions May Be Closed to the Public)
Background:
The City of Ramsey Housing and Redevelopment Authority owns a parcel legally described as Outlot GG (portions thereof), RAMSEY TOWN CENTER ADDITION. The Subject Property is approximately 14.72 acres in size located at the southeast intersection of Sunwood Drive and Peridot Street (future). The Prospect desires approximately 10-14 acres. The Subject Property is zoned COR-3 and is available for sale.
The City received an inquiry from the Prospect in January, 2013. On March 19, 2013, the Prospect made an offer on the Subject Property. At this time, Staff has not yet ordered a market appraisal.
This offer is coming from the Charter School Fund and the proposed use is for a charter School. The convenience store retail site (i.e., Super America) on the Northeast corner of the site would be excluded from this sale. This item was review by the City Council in concept several weeks ago.
The City received an inquiry from the Prospect in January, 2013. On March 19, 2013, the Prospect made an offer on the Subject Property. At this time, Staff has not yet ordered a market appraisal.
This offer is coming from the Charter School Fund and the proposed use is for a charter School. The convenience store retail site (i.e., Super America) on the Northeast corner of the site would be excluded from this sale. This item was review by the City Council in concept several weeks ago.
Observations/Alternatives:
It is recommended that the City's consideration of the offer for the purchase of real property be discussed in closed session. Attached to this case is background information on the Subject Property.
Alternative #1. The City Council could choose to present a counter offer to the Prospect for the sale of HRA owned property legally described as portions of Outlot GG, RAMSEY TOWN CENTER, and direct staff to present same.
Alternative #2. The City Council could choose to approve the offer from the Prospect for the sale of HRA owned property legally described as portions of Outlot GG, RAMSEY TOWN CENTER, and direct Staff to draft a purchase agreement and resolution for sale of property.
Alternative #3. The City Council could choose to reject the offer from the Prospect for the sale of HRA owned property legally described as portions of Outlot GG, RAMSEY TOWN CENTER, and direct staff to communicate this decision.
Alternative #1. The City Council could choose to present a counter offer to the Prospect for the sale of HRA owned property legally described as portions of Outlot GG, RAMSEY TOWN CENTER, and direct staff to present same.
Alternative #2. The City Council could choose to approve the offer from the Prospect for the sale of HRA owned property legally described as portions of Outlot GG, RAMSEY TOWN CENTER, and direct Staff to draft a purchase agreement and resolution for sale of property.
Alternative #3. The City Council could choose to reject the offer from the Prospect for the sale of HRA owned property legally described as portions of Outlot GG, RAMSEY TOWN CENTER, and direct staff to communicate this decision.
Recommendation:
Staff will present the offer and pricing information in closed session. Attached to this case is background information on the Subject Property.
Funding Source:
No funding required at this time.
Action:
Motion to accept/reject/counter the offer to purchase portions of Outlot GG RAMSEY TOWN CENTER.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Diana Lund | Diana Lund | 03/21/2013 08:39 AM |
| Brian Hagen | Tim Gladhill | 03/21/2013 10:09 AM |
| Kurt Ulrich | Kurt Ulrich | 03/21/2013 02:46 PM |
- Form Started By:
- Tim Gladhill
- Started On:
- 03/13/2013 11:21 AM
- Final Approval Date:
- 03/21/2013