Title
Pertaining to a Commercial Purchase Agreement for the sale of a 13.26-acre parcel addressed as 1958 Rice Street in the city of Maplewood.
Body
WHEREAS, the Board of Water Commissioners desires to sell a 13.26-acre parcel of land addressed as 1958 Rice Street in the city of Maplewood to R C Enterprises, LLC d/b/a PAK Properties for residential development advantageous to the surrounding neighborhood; and
WHEREAS, Staff has drafted a Commercial Purchase Agreement, which provides for such sale in the amount of $2,500,000.00 and which has been approved as to form by the assistant city attorney and signed by the buyer; now, therefore, be it
RESOLVED, that the Commercial Purchase Agreement between the Board of Water Commissioners of the City of Saint Paul and R C Enterprises, LLC d/b/a PAK Properties for the sale of real property addressed as 1958 Rice Street in the city of Maplewood in the amount of $2,500,000.00 is hereby approved and that the proper officers are hereby authorized and directed to execute said agreement on behalf of the Board; and, be it
FURTHER RESOLVED, that the General Manager of Saint Paul Regional Water Services or its designee is hereby authorized to execute any and all closing documents on behalf of the Board.