HomeMy WebLinkAbout2017-01-03-J01F Satisfaction of Agreement - Stone Prairie Plat 1 AGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: January 3, 2017
AGENDA ITEM: Consideration of approval of a Resolution approving Release and Satisfaction
of Development Agreement between the City of Waukee and VisionBank of
Iowa [Outlot Y of Stone Prairie Plat 1]
FORMAT: Resolution
SYNOPSIS INCLUDING PRO & CON: The City entered into a Development Agreement in 2014
with VisionBank of Iowa for the construction of a 10 foot trail along LA
Grant Parkway in an effort to complete the necessary trail connections for the
neighboring schools. Per the terms of the agreement, the bank was required to
satisfy the agreement upon either the approval of a final plat or the sale of the
property. The property has recently been sold for the development of an
orthodontic office. The City has received the necessary funds from the bank
to satisfy the agreement.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS:
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT:
RECOMMENDATION: Approve the resolution.
ATTACHMENTS: I. Proposed Resolution
II. Satisfaction of Agreement
III. Developer Agreement
PREPARED BY: Brad Deets, Development Services Director
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
1
THE CITY OF WAUKEE, IOWA
RESOLUTION 17-
APPROVING A RELEASE AND SATISFACTION FOR DEVELOPMENT
AGREEMENT – VISIONBANK OF IOWA [OUTLOT Y OF STONE PRAIRIE PLAT
1]
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, VisionBank of Iowa (“Property Owner”) entered into a Development
Agreement (“Agreement”) with the City of Waukee, dated April 24, 2014 and recorded on
July 11, 2014 in Book 2014 Page 8757, Dallas County, Iowa regarding the construction of a
ten foot trail along SE LA Grant Parkway.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Waukee, Iowa
that the terms of the Agreement have been fully satisfied and the City releases the Property
Owner and their successors and assigns, from all obligations under said Developers
Agreement.
Passed by the City Council of the City of Waukee, Iowa, and approved this the 3rd day of
January, 2017.
____________________________
William F. Peard, Mayor
Attest:
___________________________________
Rebecca D. Schuett, City Clerk
ROLL CALL VOTE AYE NAY ABSENT ABSTAIN
Anna Bergman
Brian Harrison
Shelly Hughes
Larry R. Lyon
Rick Peterson
Prepared by: Bradly M. Deets, City of Waukee, 230 W. Hickman Road, Waukee, IA 50263 (515) 987 -4522
Return to: Rebecca D. Schuett, City Clerk City of Waukee, 230 W. Hickman Road, Waukee, IA 50263 (515) 987 -4522
SATISFACTION OF DEVELOPMENT AGREEMENT
RECITALS
A. VisionBank of Iowa, a state-chartered banking organization (“Property
Owner”) and the City of Waukee, Iowa, a municipal corporation (“City”), entered
into that certain Development Agreement dated April 24, 2014 and recorded July 11,
2014 in Book 2014 at Page 8757 in the office of the Recorder of Dallas County, Iowa
(the “Agreement”).
B. Property Owner has satisfied its obligations related to the Agreement
Agreement in relation to the following described real estate, to-wit (the “Property”):
OUTLOT Y IN STONE PRAIRIE PLAT 1, AN OFFICIAL PLAT, WAUKEE,
DALLAS COUNTY, IOWA.
NOW, THEREFORE, the City does hereby acknowledge that Developer has
satisfied its obligations of the Agreement in relation to the Property and the Property
is hereby released from the obligations and provisions of the Agreement and such lien
is hereby redeemed, paid off, satisfied and discharged in full as it relates to the
Property.
This release shall be filed of record with the Dallas County, Iowa, Recorder.
Words and phrases herein, including acknowledgement hereof, shall be construed
as in the singular or plural, and as masculine, feminine or neuter gender, according to
the context.
Dated: __________________, 2017
CITY OF WAUKEE, IOWA,
An Iowa municipal corporation
By:________________________
William F. Peard, Mayor
By:________________________
Rebecca D. Schuett, City Clerk
STATE OF IOWA, COUNTY OF DALLAS:
On this ____ day of _______________ 2017, before me, the undersigned, a
Notary Public in and for said County and State personally appeared William F. Peard
and Rebecca D. Schuett, to me personally known, who being by me duly sworn, did
say 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:________________________
Notary Public in and for said State of
Iowa