The Ramsey Housing and Redevelopment Authority (HRA) has agreed to purchase the adult book store.
The HRA unanimously approved May 14 purchasing the property, located at 6710 Highway 10, for $361,100.
The owner of the book store, Arnold Holmberg, agreed to the price, which is the Anoka County Assessor’s estimated market value for the property, but is $14,000 less than the $375,000 listing price, said City Attorney Bill Goodrich.
“The building has been disrepair for a number of years and the city has been trying to get the property cleaned up,” said City Administrator Kurt Ulrich.
“This was the first time the property has been (listed) for sale at market price.”
The building, which was constructed in 1977, is antiquated and “the property is a blighted influence,” Ulrich said.
As part of the purchase agreement, Holmberg will have to pay any back taxes on the property, Goodrich said.
The city is hoping to close on the property by July 1, he said.
It is likely the 2,400 square-foot building will be demolished and the 1.23-acre lot sold for a “higher and better use,” Ulrich said.
Opening the property up for a different use “will give a better impression to the corridor,” he said.
To purchase the property, the city will be seeking Anoka County HRA funds.
To do so, the city will have to “designate the county HRA as an economic arm of the city,” Ulrich said.
Tammy Sakry is at [email protected]