HomeMy WebLinkAbout2019-07-15-J01zDD Partial Satisfaction of Dev Agr_Alices LC (Dev Agr) 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 a restated agreement among the City of
Waukee, Alices, L.C. and Team Des Moines Partners, LLC (Lot 1 of
Prairie Crossing Plat 7)
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 that were to be made by Alices LC. Those
improvements have been completed and accepted by the City.
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 partially satisfied as it relates to Lot 1 of Prairie
Crossing Plat 7.
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:
J1DD
THE CITY OF WAUKEE, IOWA
RESOLUTION 19-
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 Office 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 within
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 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 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 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 15th day of July, 2019, that it hereby approves of the partial release of
property encumbered by restated agreement.
____________________________
William F. Peard, Mayor
Attest:
_______________________________________
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 PROPERTY ENCUMBERED BY RESTATED AGREEMENT
AMONG THE CITY OF WAUKEE, ALICES, L.C. AND TEAM DES MOINES PARTNERS, LLC
KNOW ALL MEN BY THESE PRESENTS:
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 Office 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 within 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 a portion of property that has now been platted
and its owner now requests that a portion of the property as described below be released from the agreements
to clear a title objection and 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, 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 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 relat ed 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 in all other respects to remain in
full force and effect.
IN WITNESS WHEREOF, City of Waukee, Iowa has caused this Partial Release of Restated
Agreement to be duly executed this ____ day of July, 2019.
CITY OF WAUKEE, IOWA,
an Iowa municipal corporation
By: ______________________
William F. Peard,
Mayor of the City of Waukee, Iowa
By: ___________________
Rebecca D. Schuett, City Clerk
STATE OF IOWA )
) SS
COUNTY OF DALLAS )
On this _____ day of _______________ , 20____, before me, the undersigned, a Notary Public in
and
for said County and the State of Iowa, personally appeared William F. Peard and Rebecca D. Schuett, to me
personally known, who being by me duly sworn, did say that they are the Mayor and City Clerk of the City
of Waukee, Iowa, a municipal corporation, executing the within and foregoing instrument and
acknowledged that they executed the same as their voluntary act and deed of the City of Waukee, by it and
by them voluntarily executed.
By: ________________________
Printed Name: _________________ Notary Public in and
for the State of Iowa