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Home My WebLink About2025-03-17 I06 JDS Real Estate Investments_Amendment to Development Agreement AGENDA ITEM: CITY OF WAUKEE, IOWA CITY COUNCIL MEETING COMMUNICATION MEETING DATE: March 17, 2025 AGENDA ITEM: Consideration of approval of a resolution approving an amendment to Developer’s Agreement with JDS Real Estate Investments, LLC, successor in interest to Metro Acquisitions II, LLC FORMAT: Resolution SYNOPSIS INCLUDING PRO & CON: In 2022, the City of Waukee entered into an agreement with Metro Acquisitions II, LLC, outlining responsibilities of the developer and the City to perform certain work by specific dates. Neither the City nor the developer performed said work by the dates outlined in the original agreement. Staff has prepared an amended development agreement, which revises dates for the City and developer to perform work by. In addition, the amended agreement includes provisions for work that the developer is responsible for completing within City owned property. The agreement has also been updated to reflect the new entity which holds title to the property. FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: COMMISSION/BOARD/COMMITTEE COMMENT: STAFF REVIEW AND COMMENT: Staff would recommend approval of the development agreement. RECOMMENDATION: Approve the resolution ATTACHMENTS: I. Proposed Resolution II. Development Agreement PREPARED BY: Andy Kass, Community Development Director REVIEWED BY: I6 THE CITY OF WAUKEE, IOWA RESOLUTION 2025- APPROVING AN AMENDED DEVELOPER’S AGREEMENT BETWEEN THE CITY OF WAUKEE AND JDS REAL ESTATE INVESTMENTS, LLC, SUCCESSOR IN INTEREST TO METRO ACQUISITIONS II, LLC IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE, IOWA WHEREAS, the City of Waukee, Dallas County, State of Iowa, is a duly organized Municipal Organization; AND, WHEREAS, on October 17, 2022, the City of Waukee approved a Developer’s Agreement with Metro Acquisitions II, LLC, said agreement is recorded in Book 2022, Page 22275, of the Dallas County Recorder’s Office; AND, WHEREAS, the City has acquired a portion of the property from the Developer and the City intends to allow the Developer to extend a north-south street across the property the City owns, at the Developer’s cost: AND, WHEREAS, the City intends to construct a culvert to accommodate and enhance drainage of the existing drainage way within an area identified for the construction by the Developer of the north- south street and will cover said culvert with earth to improve and accommodate a drainage way within future street right of way, AND, WHEREAS, the original Developer’s Agreement contained certain dates for both the City of Waukee and the Developer to construct said improvements by; AND, WHEREAS, the City of Waukee and JDS Real Estate Investments, LLC, successor in interest to Metro Acquisitions II, LLC, mutually agree to keep the current terms of the original agreement in place, extend deadlines for construction of certain improvements, and insert Paragraph 9 into the agreement. NOW THEREFORE BE IT RESOLVED by the City Council of the City of Waukee that the Amended Developer’s Agreement between the City of Waukee and JDS Real Estate Investments, LLC, successor in interest to Metro Acquisitions II, LLC is hereby approved. Passed by the City Council of the City of Waukee, Iowa, and approved the 17th day of March, 2025. ____________________________ Courtney Clarke, Mayor Attest: ___________________________________ Rebecca D. Schuett, City Clerk RESULTS OF VOTE: AYE NAY ABSENT ABSTAIN R. Charles Bottenberg Chris Crone Rob Grove Anna Bergman Pierce Ben Sinclair Prepared by: Andy Kass, City of Waukee, 230 W. Hickman Road, Waukee, IA 50263 (515) 978-9533 Return to: City Clerk, City of Waukee, 230 W. Hickman Road, Waukee, Iowa 50263 (515) 987-7900 AMENDMENT TO DEVELOPER'S AGREEMENT This Amendment to Developer’s Agreement is entered into between the City of Waukee, an Iowa municipal corporation in the State of Iowa (hereinafter referred to as “City”); and JDS REAL ESTATE INVESTMENTS, LLC, as successor in interest to METRO ACQUISITIONS II, LLC, an Iowa Limited Liability Company (hereinafter referred to as “Developer”); and WHEREAS, the parties entered into a Developer’s Agreement on or about the 17 th day of October, 2022, and recorded with the Dallas County Recorder’s office at Book 2022, Page 22275, on October 21, 2022, concerning Developer’s obligations to complete certain street improvements for “NW Sproul Lane” and the City’s obligation to construct a culvert as more particularly defined in the Agreement (hereinafter referred to as “Agreement”); and WHEREAS, the Agreement in Paragraph 2 provides for certain dates for obligations of the City and Developer to be completed by under the Agreement; and WHEREAS, the parties seek to partially modify the dates included in Paragraph 2 of the Agreement; and WHEREAS, the City and Developer hereby agree to amend Paragraph 2 of the Agreement and insert a new paragraph (hereinafter referred to as “Paragraph 9”) to provide as follows: 2. Creek Crossing. Developer acknowledges that a north-south street across the City Greenbelt, generally depicted as NW Sproul Lane on Exhibit B, must be constructed to provide adequate vehicle and pedestrian connectivity between the neighborhoods on both sides of the C i t y Greenbelt, and the Parties acknowledge and agree that the construction of a culvert structure will be necessary for the crossing. On or before December 31, 2026, the City shall complete construction of that culvert, including all associated grading, outlet channel protection, backfill and any necessary restoration, at its sole cost and expense. Developer for the Property agrees to provide all temporary construction and permanent easements on its remaining Property that are required by the City to complete the construction of the culvert structure by the City. Regardless of the ownership of the City Greenbelt depicted on Exhibit B, Developer understands and agrees that it is responsible for the construction of the north-south Street across the City Greenbelt, generally depicted as NW Sproul Lane on Exhibit B, including but not limited to grading and associated infrastructure, in connection with the development of the Property as well as the unnamed street running East-West from NW Sproul Lane on the property identified as City Greenbelt. Developer shall complet e the construction of those streets on or before the 31st day of December, 2027. 9. Property Dedication and Acceptance of Completed Improvements by the City. A portion of the Improvements being undertaken by the Developer pursuant to this Agreement are being undertaken on property the Developer already dedicated to the City. The Developer agrees to indemnify and hold harmless the City for any and all claims, demands, suits, damages or liability that may arise by virtue of their undertaking the Improvements contemplated by virtue of this Agreement, including but not limited to reasonable attorney’s fees and expenses incurred by the City in defending itself with regard to any such matters. After City inspection of the same to assure adherence to the City approved plans and specifications and applicable federal, state, and local laws and regulations, together with all required maintenance bonds, the City will accept the Improvements and assume ownership and maintenance obligations associated with said Improvements subject to the requirements of the associated bonds. It is the intent of the parties that Paragraph 2 of the Agreement shall be considered amended accordingly and that Paragraph 9 shall be inserted into the Agreement and the remaining terms and provisions of the Agreement shall remain unchanged. This Amendment to the Agreement is subject to prior approval of the City Council of the City of Waukee, as well as the Developer and thereafter all parties shall be bound by the Agreement as amended. [Signatures pages follow.] Dated: , 2025 CITY OF WAUKEE, IOWA By Courtney Clarke, Mayor By Rebecca Schuett, City Clerk (City Seal) STATE OF IOWA ) ) ss. COUNTY OF DALLAS ) On this day of , 2025, before me, the undersigned, a Notary Public in and for the State of Iowa, personally appeared and , to me personally known, who, being by me duly sworn, did say that they are the Mayor and City Clerk, respectively, of the City of Waukee, Iowa; that the seal affixed to the foregoing instrument is the corporate seal of the corporation, and that the instrument was signed and sealed on behalf of the corporation by authority of its City Council as contained in Ordinance No. passed by the City Council under Roll Call No. of the City Council on the day of , 2025, and that Mayor and City Clerk, as such officers, acknowledge the execution of said instrument to be the voluntary act and deed of the City of Waukee, by them voluntarily executed. ____________________________________ Notary Public in and for the State of Iowa Dated: , 2025 JDS REAL ESTATE INVESTMENTS, LLC By: Print Name: Title: STATE OF IOWA ) ) ss. COUNTY OF ) On this day of _ , 2025, before me, a Notary Public in and for said county, personally appeared , to me personally known, who being by me duly (sworn or affirmed) did say that he is a of said limited liability company, that said instrument was signed on behalf of the said limited liability company; and, that said , as such , acknowledged the execution of said instrument to be the voluntary act and deed of said limited liability company, by it and by him voluntarily executed. ___________________________________ Notary Public in and for the State of Iowa EXHIBIT A LEGAL DESCRIPTION The North half (N 1/2) of the Southeast Quarter (SE 1/4) of Section Twenty (20), Township Seventy-nine (79) North, Range Twenty-six (26), West of the 5th P.M., Dallas County, Iowa, ALSO the North 280.6 feet of the East 621.0 feet of the South 941.6 feet of the Southeast Quarter (SE 1/4) Southeast Quarter (SE 1/4) of Section Twenty (20), Township Seventy-nine (79) North, Range Twenty-six (26), West of the 5th P.M., Dallas County, Iowa, containing 4.0 acres more or less. EXHIBIT B