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HomeMy WebLinkAbout2019-07-15-J01zCC Partial Satisfaction of Dev Agr_Alices LC (Alice's Road Improvements) AGENDA ITEM: CITY OF WAUKEE, IOWA CITY COUNCIL MEETING COMMUNICATION MEETING DATE: July 15, 2019 AGENDA ITEM: Consideration of approval of resolution approving Partial release of property encumbered by Development Agreement – NE Alice’s Road Construction between the City of Waukee and Alices, L.C. FORMAT: Consent SYNOPSIS INCLUDING PRO & CON: Alices LC (Knapp Properties) is in the process of selling a lot within the Prairie Crossing Development. As a part of the due diligence for the buyer, they have asked that the property that is a part of the sale be released from an existing development agreement related to improvements with Alice’s Road. At the time the agreement was put in place, the subject property was a part of a larger lot, which has since been subdivided. Knapp’s obligations as it relates to Alice’s Road have been satisfied. FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: COMMISSION/BOARD/COMMITTEE COMMENT: STAFF REVIEW AND COMMENT: Staff has reviewed the Agreement and believes the agreement can be satisfied. RECOMMENDATION: Approve the Resolution ATTACHMENTS: I. Proposed Resolution II. Partial Satisfaction PREPARED BY: Brad Deets, Development Services Director REVIEWED BY: PUBLIC NOTICE INFORMATION – NAME OF PUBLICATION: DATE OF PUBLICATION: J1CC THE CITY OF WAUKEE, IOWA RESOLUTION 19- APPROVING PARTIAL RELEASE OF PROPERTY ENCUMBERED BY DEVELOPMENT AGREEMENT – NE ALICE’S ROAD CONSTRUCTION BETWEEN THE CITY OF WAUKEE AND ALICES, L.C. IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE, IOWA WHEREAS, on July 21, 2008, the City of Waukee (“City”), and Alices, L.C. (the “Owner”) entered into a Development Agreement – NE Alice’s Road Construction (“Agreement”) whereby the City agreed to install specific Improvements, as defined therein, and required the Developer to post a bond to cover the costs of said Improvements before said plat was approved, all as further described in the Agreement recorded in the Office of the Recorder, Dallas County, Iowa as Document 11529 in Book 2008 Page 11529. WHEREAS, the agreement was recorded on large portion of property that was described by metes and bounds which is more particularly described in the Agreement, which has now been platted and Developer requests that a portion of the property be released from the agreement to allow for its sale. For valuable consideration, receipt of which is hereby acknowledged, the undersigned CITY OF WAUKEE, IOWA (“City”), does hereby release and discharge the real estate legally described as: Lot 1, in Prairie Crossing Plat 7, an Official Plat, now included in and forming a part of the City of Waukee, Dallas County, Iowa from all covenants, commitments and obligations of the parties related to the Agreement, which is recorded in the Dallas County Recorder’s Office as stated above, and that all obligations created therein are hereby paid off, released satisfied and discharged. NOW THEREFORE BE IT RESOLVED by the City of Waukee City Council in session this 15th day of July, 2019, that it hereby approves of the partial release of property encumbered by agreement. ____________________________ William F. Peard, Mayor _______________________________________ Rebecca D. Schuett, City Clerk ROLL CALL VOTE AYE NAY ABSENT ABSTAIN Anna Bergman R. Charles Bottenberg Courtney Clarke Shelly Hughes Larry R. Lyon Prepared by: Brad Deets, City of Waukee, 230 W. Hickman Rd, Waukee, IA 50263 (515) 978 -7899 Return to: Rebecca D. Schuett, City Clerk, City of Waukee, 230 W. Hickman Rd, Waukee, IA 50263 PARTIAL RELEASE OF DEVELOPMENT AGREEMENT – NE ALICE’S ROAD CONSTRUCTION BETWEEN THE CITY OF WAUKEE AND ALICES, L.C. KNOW ALL MEN BY THESE PRESENTS: WHEREAS, on July 21, 2008, the City of Waukee (“City”), and Alices, L.C. (the “Owner”) entered into a Development Agreement – NE Alice’s Road Construction (“Agreement”) whereby the City agreed to install specific Improvements, as defined therein, and required the Developer to post a bond to cover the costs of said Improvements before said plat was approved, all as further described in the Agreement recorded in the Office of the Recorder, Dallas County, Iowa as Document 11529 in Book 2008 Page 11529. WHEREAS, the Agreement was recorded on a large portion of property that was described by metes and bounds which is more particularly described in the Agreement, which has now been platted and Developer requests that a portion of the property be released from the Agreement to allow for its sale. For valuable consideration, receipt of which is hereby acknowledged, the undersigned CITY OF WAUKEE, IOWA (“City”), does hereby release and discharge the real estate legally described as: Lot 1, in Prairie Crossing Plat 7, an Official Plat, now included in and forming a part of the City of Waukee, Dallas County, Iowa From all covenants, commitments and obligations of the parties related to the Agreement, which is recorded in the Dallas County Recorder’s Office as stated above, and that all obligations created threin are hereby paid off, released satisfied and discharged. NOW THEREFORE BE IT RESOLVED by the City of Waukee City Council in session this 15th day of July, 2019, that it hereby approves of the partial release of property encumbered by agreement. _____________________________ William F. Peard, Mayor Attest: _________________________________ Rebecca D. Schuett, City Clerk STATE OF IOWA ) ) SS. COUNTY OF DALLAS ) On this _____ day of __________________, 2019 before me, the undersigned, a Notary Public in and for the State of Iowa, personally appeared William F. Peard and Rebecca D. Schuett, to me personally known, and 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 official seal of said City, and that the instrument was signed and sealed on behalf of the City, by authority of its City Council, and that William F. Peard and Rebecca D. Schuett acknowledged the execution of the instrument to be their voluntary act and deed and the voluntary act and deed of the City, by it and them voluntarily executed. ________________________________ Notary Public in and for the State of Iowa My Commission expires __________