10-28-13 Council Packet - Laserfiche WebLink

Home Search

Attachment A SETTLEMENT AGREEMENT AND RELEASE OF ALL CLAIMS This Settlement Agreement and Release of All Claims ( "Agreement ") is hereby entered into by and between the Eagle Brook Church of White Bear Lake ( "Eagle Brook ") and the City of Lino Lakes ( "City "). Eagle Brook and the City are hereinafter referred to collectively as the "Parties," or individually as a "Party." WHEREAS, on or about October 24, 2011, the City approved and levied a special assessment ( "Special Assessment ") to finance its portion of the I35E / CSAH 14 interchange improvement project; and WHEREAS, the City assessed Eagle Brook $364,684.00 as its share of the Special Assessment; and WHEREAS, the City calculated Eagle Brook's share of the Special Assessment by assessing a value of $.14 per square foot on a 40.62 acre parcel east of the existing ditch easement ( "Church Parcel ") and a 19.18 acre parcel west of the existing ditch easement ( "Vacant Parcel "), for a total assessed area of 59.80 acres, all of which is contained within a single legal parcel described as Lot 1, Block 1, Eagle Brook Addition, PID 11- 31 -22 -41 -0004; and WHEREAS, Eagle Brook appealed the Special Assessment in Anoka County District Court, File No. 02 -CV -11 -7495; and WHEREAS, the Parties wish to resolve the pending appeal in order to avoid additional litigation costs. NOW, THEREFORE, IN CONSIDERATION OF the foregoing, the mutual promises and covenants contained in this Agreement, including the relinquishment of certain legal rights and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the Parties agree as follows: 1. Reduction of Special Assessment. The Special Assessment shall, for the Church Parcel and the Vacant Parcel property only, be reduced from $.14 per square foot to $.12 per square foot. Eagle Brook shall receive credit for any advance payment of principal or interest made on the Special Assessment prior to the execution of this Agreement, with interest calculated as though the Special Assessment was originally for $.12 per square foot. 2. Deferral. The Special Assessment on the Church Parcel in the amount of $212,328.86 (1,769,407.20 sq. ft. x $.12 per sq. ft.) is not deferred and shall be submitted to Anoka County for assessment against the Property in accordance