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• <br />• <br />AGENDA ITEM 6C <br />STAFF ORIGINATOR: Mary Alice Divine <br />DATE: 011/13/06 <br />TOPIC: i. Consideration of Resolution No. 06 -186 <br />Approving the Assignment and Release of <br />Certain Obligations under the Contract for <br />Private Development with Hartford <br />Development, Inc. <br />ii. Consideration of Resolution No. 06 -187 <br />Approving the Release of Obligations under <br />the Contract for Subdivision /Planned Unit <br />Development with Hartford Development, Inc. <br />Vote Required: Simple Majority <br />BACKGROUND: <br />The City Council entered into a Contract for Private Development (amended <br />September 13, 2005) and Contract for Subdivision /Planned Unit Development <br />with the Hartford Group on December 21, 2004, setting forth the terms and <br />conditions of redevelopment for Legacy at Woods Edge. <br />Hartford Group plans to sell a portion of the development property to Avalon <br />Homes, Inc., for the construction of Phase 1 of the townhome site and has asked <br />to be released from the terms and conditions of those contracts as to the subject <br />parcel. <br />The city has approved the Phase 1 townhome site plan. This action releases the <br />Hartford Group from the conditions that will be assumed by Avalon Homes, Inc. <br />This release will be delivered upon approval of the site development agreement <br />with Avalon Homes. <br />The Economic Development Authority acted earlier this evening on the Contract <br />for Private Development. The City of Lino Lakes is required to act on the release <br />of both contracts. Both resolutions can be approved with one motion. <br />OPTIONS: <br />1. Approve Resolution Nos. 06 -186 and 06 -187 Approving the Release of <br />Obligations for the Contract for Private Development and the Contract for <br />Subdivision /PUD the Resolutions. <br />2. Return to staff for further consideration. <br />