HomeMy WebLinkAbout2014-02-03-Resolutions 14-037_Prairie Crossing P1 Lot 1 - Partial Release of Development AgrTHE CITY OF WAUKEE,IOWA
RESOLUTION 14-037
APPROVING PARTIAL RELEASE OF PROPERTY ENCUMBERED BY
RESTATED AGREEMENT AMONG THE CITY OF WAUKEE,ALICES,L.C.
AND TEAM DES MOINES PARTNERS,LLC
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE,IOWA
WHEREAS,on August 6,2007,the City of Waukee ("City"),and Alices,L.C.(the
"Developer")entered into an agreement ("2007 Agreement")providing benefits to the
Developer under the authority of Chapter 15A and Chapter 403 of the Code of Iowa,
contingent upon certain actions of Developer on certain property in the City (the
"Development Property"),all as further described in the 2007 Agreement recorded in the
Office of the Recorder,Dallas County,Iowa as Document 12839 in Book 2007 Page
12839.
WHEREAS,the Developer secured an agreement with Team Des Moines Partners,L.c.
("Team")to locate on a portion of the Development Property referred to as the "Team
Property"and the Developer and the City,along with Team adopted an Amendment to
the 2007 Agreement,effective July 21,2008,and recorded in the Offiee of the Recorder,
Dallas County,Iowa as Document 11523 in Book 2008 Page 11523 ("2008
Amendment")and such 2008 Amendment changed the division of contemplated tax
increment payments from the 2007 Agreement as provided therein.
WHEREAS,the Developer,Team and the City entered into that certain Amended and
Restated Development Agreement Among The City of Waukee,Alices,L.c.and Team
Des Moines Partners,LLC dated March 19,2012,whereby the City extended the amount
of time for Team to construct the commercial buildings in the Team Property and
extended the amount of time for Developer to construct the Public Improvements witbin
the Development Property,and such other conditions and obligations as included therein
which was recorded in the Office of the Recorder,Dallas County,Iowa,as Document
5668 in Book 2012 Page 5668 ("2012 Development Agreement"),
WHEREAS,the 2012 Development Agreement did specifically supersede and replace
all prior agreements among the City,Developer and Team related to the development of
the Development Property and the Team Property,and in addition the parties agreed that
the 2012 Development Agreement contained all covenants,commitment and obligations
of the parties related to all of the previous agreements as therein stated.
WHEREAS,the agreements appear of record on some property that now been platted
and its owner now requests that a portion of the property as described below be released
from the agreement to clear a title objection and allow for its sale,
WHEREAS,for valuable consideration,receipt of which is hereby acknowledged,the
undersigned CITY OF WAUKEE,IOWA ("City"),does hereby release and discharge
the real estate,and all current or future owners of the real estate,which real estate has
been included in the Development Property and is legally described as:
Lot 1,in Prairie Crossing Plat 1,an Official Plat,now included in and
forming a part ofthe City of Waukee,Dallas County,Iowa
from all covenants,commitments and obligations of the parties related to the 2007
Agreement,the 2008 Amendment and the 2012 Development Agreement,all of which
are recorded in the Dallas County Recorder's Office as given above,which recitals are
hereby incorporated into this paragraph.The 2007 Agreement,the 2008 Amendment and
the 2012 Development Agreement Mortgage in all other respects to remain in full force
and effect.
NOW THEREFORE BE IT RESOLVED by the City of Waukee City Council in
session this 3rd day of February,2014,that it hereby approves of the partial release of
property encumbered by restated agreement.
Attest:~!~~------
ROLL CALL VOTE
Shane Blanchard
Brian Harrison
Casey L.Harvey
Shelly Hughes
Rick Peterson
AYE NAY ABSENT
X
X
ABSTAIN
X
X
X