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CITY OF LINO LAKES <br />RESOLUTION NO. 13 -50 <br />APPROVING A RELEASE OF OBLIGATIONS FROM CONTRACT FOR <br />SUBDIVISION/PLANNED UNIT DEVELOPMENT BETWEEN CITY OF LINO <br />LAKES AND HARTFORD DEVELOPMENT, INC <br />WHEREAS, the City and Hartford Development, Inc., a Minnesota corporation ( "Master <br />Developer "), are parties to a Contract for Subdivision/Planned Unit Development relating to <br />the Legacy at Woods Edge master development between the City and Master Developer dated <br />effective December 21, 2004, and recorded December 29, 2004, as Document No. 1971748.007 <br />in the office of the Anoka County Recorder, Anoka County, Minnesota (the "Contract "); and <br />WHEREAS, the real property legally described as Outlot A, The Village No. 4, Anoka <br />County, Minnesota (the "Property"), which was tax- forfeited, is subject to the Contract; and <br />WHEREAS, the LLC has entered into a Purchase and Redevelopment Agreement dated March <br />19, 2013 (the "Purchase Agreement "), with the Lino Lakes Economic Development Authority <br />(the "EDA ") to purchase and redevelop the Property as an expansion to the existing assisted <br />living facility located on the property adjacent to the Property; and <br />WHEREAS, in connection with the acquisition of the Property, the LLC has requested that the <br />Property and the LLC be released from the terms and conditions of the Contract; and <br />ilk WHEREAS, it is in the best interest of the City to promote development by LLC and to release <br />the LLC and the Property from the terms and conditions of the Contract; <br />NOW, THEREFORE BE IT RESOLVED by The City Council of The City of Lino Lakes <br />that the "Release of Obligations under the Contract for Subdivision/Planned Unit <br />Development ", attached hereto as Exhibit A, is hereby approved; <br />BE IT FURTHER RESOLVED that the Mayor and City Clerk are hereby authorized to <br />execute the release on behalf of the City. <br />Adopted by the Council of the City of Lino Lakes this 13th day of May, 2013. <br />Th9 motion for the adoption of the foregoing resolution was introduced by Council Member <br />Q f]on l l and was duly seconded by Council Member Rodrer and upon <br />vote being taken thereon, the following voted in favor thereof: <br />Roeser, O'Donnell, Rafferty, Stoesz, <br />The following voted against same: <br />none <br />ATTEST: <br />• <br />ert, Mayor <br />