5.2.
HRA Regular Session
- Meeting Date:
- 03/26/2013
- By:
- Tim Gladhill, Community Development
Information
Title:
Consider Offer to Purchase Property at Sunwood Drive and Sapphire Street (Portions May Be Closed to the Public)
Background:
The City of Ramsey Housing and Redevelopment Authority owns a parcel legally described as Outlot B, RAMSEY TOWN CENTER 11TH ADDITION. The Subject Property is approximately 4.03 acres in size located at the northwest intersection of Sunwood Drive and Sapphire Street. The Prospect desires approximately 1+ acres. The Subject Property is zoned COR-1 and is available for sale.
The City received an inquiry from the Prospect, MWF Properties, in January, 2013. On March 19, 2013, the Prospect made an offer on the Subject Property. The proposed use is multiple-family residential. At this time, Staff has not yet ordered a market appraisal.
The City received an inquiry from the Prospect, MWF Properties, in January, 2013. On March 19, 2013, the Prospect made an offer on the Subject Property. The proposed use is multiple-family residential. At this time, Staff has not yet ordered a market appraisal.
Observations/Alternatives:
The consideration of the offer for purchase of real property is recommended to be considered 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 Outlot B, RAMSEY TOWN CENTER 11TH ADDITION, 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 Outlot B, RAMSEY TOWN CENTER 11TH ADDITION, 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 Outlot B, RAMSEY TOWN CENTER 11TH ADDITION, and direct staff to communicate that 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 Outlot B, RAMSEY TOWN CENTER 11TH ADDITION, 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 Outlot B, RAMSEY TOWN CENTER 11TH ADDITION, 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 Outlot B, RAMSEY TOWN CENTER 11TH ADDITION, and direct staff to communicate that decision.
Recommendation:
The offer to purchase real property and additional land pricing information will be presented 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 Outlot B RAMSEY TOWN CENTER 11TH ADDITION.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Diana Lund | Diana Lund | 03/20/2013 08:01 AM |
| Brian Hagen | Tim Gladhill | 03/20/2013 03:33 PM |
| Kurt Ulrich | Kurt Ulrich | 03/21/2013 02:57 PM |
- Form Started By:
- Tim Gladhill
- Started On:
- 03/13/2013 11:27 AM
- Final Approval Date:
- 03/21/2013