4.5.
CC Regular Session
- Meeting Date:
- 04/24/2018
- Submitted For:
- Patrick Brama
- By:
- Patrick Brama, Administrative Services
Information
Title:
Approve Centra Homes Purchase Agreement: Multiple Actions
- Approve the Amended Purchase Agreement
- Approve the Right of Entry Agreement
- Adopt Resolution #18-051; Authorizing the Sale of City Owned Land to Centra Homes, LLC.
Purpose/Background:
PURPOSE
Consider multiple actions related to the PA between the City of Ramsey and Centra Homes, LLC. These actions are considered to be administrative and consistent with past actions by the city.
BACKGROUND
Please see attached cover letter. Please see company website. Centra Homes is in good standing with the State of Minnesota business filing search system. Staff has not worked with Centra Homes on a project in Ramsey. However, staff has been working with Centra Homes for the past few months, as they have contemplated several sites in Ramsey.
The attached Amendment #1, Appendix A, shows the preferred concept level layout. It should be noted, this layout is very preliminary and will require changes. This layout has not gone through the City's entitlement process and no approvals have been provided. The EDA, Planning Commission, and City Council have all seen this concept layout (February and March) and have provided preliminary informal support.
Consider multiple actions related to the PA between the City of Ramsey and Centra Homes, LLC. These actions are considered to be administrative and consistent with past actions by the city.
(1) Approve the attached Purchase Agreement Amendment #1; changing the title company and confirming the sale price/ preferred concept layout.
(2) Approve the attached right of re-entry agreement. Per the attached purchase agreement for city-owned land, the buyer must enter into a right-of-re-entry agreement. This is a "performance" agreement that will be recorded against the Centra Homes Project. It will require the construction of 15 single family homes pursuant to the schedule by October 1, 2021. This agreement also outlines default provisions.
(3) Pass a resolution formally authorizing the sale of city-owned land. As required by the Anoka County Recorder's Office, the city must pass resolution authorizing the sale of city-owned land. The city has already approved a purchase agreement outlining this action, and previously an ordinance.
(2) Approve the attached right of re-entry agreement. Per the attached purchase agreement for city-owned land, the buyer must enter into a right-of-re-entry agreement. This is a "performance" agreement that will be recorded against the Centra Homes Project. It will require the construction of 15 single family homes pursuant to the schedule by October 1, 2021. This agreement also outlines default provisions.
(3) Pass a resolution formally authorizing the sale of city-owned land. As required by the Anoka County Recorder's Office, the city must pass resolution authorizing the sale of city-owned land. The city has already approved a purchase agreement outlining this action, and previously an ordinance.
BACKGROUND
Please see attached cover letter. Please see company website. Centra Homes is in good standing with the State of Minnesota business filing search system. Staff has not worked with Centra Homes on a project in Ramsey. However, staff has been working with Centra Homes for the past few months, as they have contemplated several sites in Ramsey.
The attached Amendment #1, Appendix A, shows the preferred concept level layout. It should be noted, this layout is very preliminary and will require changes. This layout has not gone through the City's entitlement process and no approvals have been provided. The EDA, Planning Commission, and City Council have all seen this concept layout (February and March) and have provided preliminary informal support.
Notification:
Observations/Alternatives:
Funding Source:
Recommendation:
EDA Review:
The EDA reviewed this case on 04/12 and recommended 6-0 for the City Council to approve. Please see QCTV video for details. No major discussion occurred.
One EDA member did request that the developer construct their project on the public fronting roads first, rather than starting internal to the site. Additionally, it was requested that the Right of Re Entry be tied to the final buildable lots (about 36-40) verses the existing single lot--to insure it could be enforced.
Staff did work with the developer based on the feedback provided by the EDA. First, it should be noted, the attached Right of Re Entry Agreement includes language that specifies the final lot descriptions will be added before closing on this land transaction. Secondly, the developer agreed to adjusting the Right of Re Entry Agreement to require that 3 of the minimum 5 homes to be constructed each year be located on public fronting roads (Ramsey Boulevard or Bunker Lake Boulevard). Previously, the agreement was silent on that item.
The EDA reviewed this case on 04/12 and recommended 6-0 for the City Council to approve. Please see QCTV video for details. No major discussion occurred.
One EDA member did request that the developer construct their project on the public fronting roads first, rather than starting internal to the site. Additionally, it was requested that the Right of Re Entry be tied to the final buildable lots (about 36-40) verses the existing single lot--to insure it could be enforced.
Staff did work with the developer based on the feedback provided by the EDA. First, it should be noted, the attached Right of Re Entry Agreement includes language that specifies the final lot descriptions will be added before closing on this land transaction. Secondly, the developer agreed to adjusting the Right of Re Entry Agreement to require that 3 of the minimum 5 homes to be constructed each year be located on public fronting roads (Ramsey Boulevard or Bunker Lake Boulevard). Previously, the agreement was silent on that item.
Action:
Motion to:
(1) Approve the attached Amendment #1 to the purchase agreement between the City of Ramsey and Centra Homes, LLC; subject to final review and approval by the City Attorney.
-and-
(2) Approve the attached "Right of Re-Entry" Agreement with Centra Homes, LLC; subject to final review and approval by the City Attorney.
-and-
(3) Adopt the attached Resolution #18-051; Authorizing the Sale of City Owned Land to Centra Homes, LLC.
(1) Approve the attached Amendment #1 to the purchase agreement between the City of Ramsey and Centra Homes, LLC; subject to final review and approval by the City Attorney.
-and-
(2) Approve the attached "Right of Re-Entry" Agreement with Centra Homes, LLC; subject to final review and approval by the City Attorney.
-and-
(3) Adopt the attached Resolution #18-051; Authorizing the Sale of City Owned Land to Centra Homes, LLC.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Kurt Ulrich | Kurt Ulrich | 04/19/2018 08:40 AM |
- Form Started By:
- Patrick Brama
- Started On:
- 04/14/2018 10:26 PM
- Final Approval Date:
- 04/19/2018