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HomeMy WebLinkAbout2016-12-19-J01H Termination of Restrictive Covenant AGENDA ITEM: CITY OF WAUKEE, IOWA CITY COUNCIL MEETING COMMUNICATION MEETING DATE: December 19, 2016 AGENDA ITEM: Consideration Agreement for the Termination of the Restrictive Covenant on property owned by the City of Waukee FORMAT: Consent Agenda SYNOPSIS INCLUDING PRO & CON: The City of Waukee purchased 200 acres of property from the Copeland family in 2004 for $7,000 per acre. The intent of the City was to develop the property for a recreation complex. The agreement has a strict requirement that the property can only be used for recreation purposes. As Waukee continues to change, the restriction on the use of the parcel limits the City in the future. The addition of soccer fields at Timberline Middle School and the planned softball and baseball fields at the proposed sports complex reduces the need for a recreation complex on the Copeland Recreation parcel in the foreseeable future. The City is beginning the process of creating a comprehensive plan for the area west of Waukee and will be considering the long term needs for city facilities and potential uses for the land. It is in the City’s interest that the restriction on the uses of the property be eliminated. The value of the property has risen since its purchase. After discussions with the Copeland family, there was an understanding that an equitable way of compensating them for the elimination of the restriction is to share equally in the amount of the increased value of the property. It was agreed to share in a $3,000 per acre increase in the value for the 200 acres. The benefit to the City will be that it has no restrictions on the future use of the property which increases the City’s options as Waukee continues to evolve. FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: $3,000 per acre COMMISSION/BOARD/COMMITTEE COMMENT: STAFF REVIEW AND COMMENT: City staff recommends approval of the Agreement for the Termination of Restrictive Covenant. RECOMMENDATION: Approve the resolution. ATTACHMENTS: I. Proposed Resolution II. Agreement for the Termination of the Restrictive Covenant PREPARED BY: Tim Moerman REVIEWED BY: THE CITY OF WAUKEE, IOWA RESOLUTION 16- APPROVING AN AGREEMENT TO TERMINATE RESTRICTIVE COVENANT ON PROPERTY OWNED BY THE CITY OF WAUKEE IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE, IOWA WHEREAS, the City of Waukee purchased property consisting of approximately 200 Acres located west of the existing City limits and legally described as: The Northwest Quarter of the Southeast Quarter (NW ¼ SE ¼) and the Southwest Quarter (SW ¼) of Section 36 Township 79 North, Range 27 West of the 5th P.M., Dallas County, Iowa, together with all of the land south of the Southwest Quarter of said Section 36 lying adjacent to and north of 300th Street (hereinafter the “Property”).; AND, WHEREAS, in approximately 2008, when the purchase was completed, it was contemplated that the City would use the property for a recreation and sports complex and restrictive covenants were placed on the property by the previous owners restricting the use to public recreation, naming among other restrictions more particularly set forth in the restrictive covenants recorded on the property; AND WHEREAS, since the purchase, the City has experienced explosive growth and additional recreational facilities are being developed for the benefit of the public including but not limited to the soccer fields at the Timberline Middle School as well as the softball and baseball fields at the proposed sports complex being planned north of Highway 6 within the existing city limits has reduced the likelihood that the property will be developed on the Copeland parcel in the foreseeable future; AND WHEREAS, the City is beginning the process of updating its comprehensive plan, including the area west of Waukee, and will be considering the long term needs for city facilities and potential uses for the land. The existence of a restrictive covenant no longer is desirable and it is in the City’s interest that the restriction on the uses of the property be eliminated to allow the City complete flexibility relative to this asset; AND WHEREAS, The City Council of the City of Waukee finds that the existence of the Restrictive Covenant no longer benefits the citizens of the City of Waukee and that the same should be terminated; AND WHEREAS, after discussions with the Copeland family, an agreement was reached that allows for the termination of the restrictive covenant and that is in the best interest of the City that it be approved. 2 NOW THEREFORE BE IT RESOLVED by the City of Waukee City Council that the Agreement for the Termination of Restrictive Covenant should be and the same is hereby approved. Passed by the City Council of the City of Waukee, Iowa, and approved this the 19th day of December, 2016. ____________________________ 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