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• <br />• <br />Council Member Reinert introduced the following resolution and moved its <br />adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 06-187 <br />RESOLUTION APPROVING RELEASE OF OBLIGATIONS UNDER <br />CONTRACT FOR SUBDIVISION/PLANNED UNIT DEVELOPMENT <br />BETWEEN THE CITY OF LINO LAKES AND HARTFORD DEVELOPMENT, <br />INC. <br />BE IT RESOLVED By the City Council ( "Council ") of the City of Lino Lakes, Minnesota <br />( "City ") as follows: <br />Section 1. Recitals. <br />1.02. The City and Hartford Development, Inc. (the "Developer ") entered into a into a <br />Contract for Subdivision/Planned Unit Development dated December 21, 2004, and amended on <br />September 13, 2005, (the "Subdivision Contract "), setting forth the terms and conditions of <br />redevelopment of certain property referred to generally as the Legacy at Woods Edge Project. <br />1.02. The Developer and Legacy Holdings -LL, LLC (the "Development Property Owner ") <br />have determined to convey one of the parcels subject to the Subdivision Contract to Avalon Homes, <br />Inc. (the "Successor Developer "). <br />1.03. In connection with that conveyance, Developer seeks to be released from its <br />obligations under the Subdivision Contract, subject to certain terms. <br />1.04. The Council has reviewed a Release of Obligations under Contract for <br />Subdivision/Planned Unit Development, Avalon Homes, Inc., between the City, the Developer and <br />the Successor Developer (the "Release ") and finds that the execution thereof is in the best interest of <br />the City and its residents. <br />Section 2. City Approval; Further Proceedings. <br />2.01. The Release as presented to the Council is hereby in all respects approved, subject to <br />modifications that do not alter the substance of the transaction and that are approved by the Mayor <br />and City Administrator, provided that execution of the documents by such officials shall be <br />conclusive evidence of approval. <br />2.02. The Mayor and City Administrator are hereby authorized to execute on behalf of the <br />City the Release and any documents referenced therein requiring execution by the Authority, and to <br />carry out, on behalf of the City its obligations thereunder. <br />SJB- 270697v1 <br />LN 140 -80 <br />