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• • CITY COUNCIL AGENDA ITEM 6E STAFF ORIGINATOR: Michael Grochala MEETING DATE: May 13, 2013 Consider Resolution No. 13 -50, Approving a Release of Obligations from Contract for Subdivision/Planned Unit Development between City of Lino Lakes and Hartford Development, Inc., Michael Grochala ii. Consider Resolution No. 13 -51, Approving a Release of Obligations from Petition and Waiver Agreement between the City of Lino Lakes and Legacy Holdings -LL, LLC, Michael Grochala VOTE REQUIRED: 3/5 INTRODUCTION Staff is requesting City Council consideration to approve the release of obligations from certain land development contracts encumbering the title of property for the Lino Lakes Assisted Living land purchase BACKGROUND As a requirement for approvals for the Legacy at Woods Edge development the City entered into certain development contracts with Hartford Development Inc. and it's holding company Legacy Holdings -LL, LLC. The first agreement was a subdivision/planned unit development agreement that is executed with all new subdivision approvals. The second agreement was a petition and waiver agreement requesting the construction of public improvements and agreeing to the special assessment of those costs against the development property. Both of these documents were recorded against all the properties within the Legacy at Woods Edge Development. The City is currently working with Lino Lakes Assisted Living, LLC to complete the land purchase of Outlot A, The Village No. 4. The LLC has entered into a Purchase and Redevelopment Agreement with the City for purchase of the property to expand the existing assisted living facility. Additionally, the purchase price includes the payment of special assessments previously levied against the property. Accordingly, the LLC has requested a release of obligations from both of the documents described above.