HomeMy WebLinkAbout2006-186 Council ResolutionCouncil Member Reinert introduced the following resolution and moved its
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CITY OF LINO LAKES
RESOLUTION NO. 06 -186
RESOLUTION APPROVING ASSIGNMENT AND RELEASE OF CERTAIN
OBLIGATIONS UNDER CONTRACT FOR PRIVATE DEVELOPMENT
BETWEEN THE LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY,
THE CITY OF LINO LAKES AND HARTFORD DEVELOPMENT, INC.
BE IT RESOLVED By the City Council ( "Council ") of the City of Lino Lakes, Minnesota
( "City ") as follows:
Section 1. Recitals.
1.01. The Lino Lakes Economic Development Authority ( "Authority ") currently
administers Development District No. 1 (the "Project)" pursuant to Minnesota Statutes, Sections
469.124 to 469.134 ( "Development District Act ").
1.02. The Authority, the City, and Hartford Development, Inc. (the "Developer ") entered
into a into a Contract for Private Development dated December 20, 2004, as amended by a First
Amendment thereto dated September 13, 2005 (the "Contract "), setting forth the terms and
conditions of redevelopment of certain property within the Project, referred to generally as the
Legacy at Woods Edge Project.
1.03. The Developer and Legacy Holdings -LL, LLC (the "Development Property Owner ")
have determined need to assign certain obligations under the Contract to Avalon Homes, Inc. (the
"Successor Developer ").
1.04. The Council has reviewed an Approval of Assignment and Release of Obligations
under Contract for Private Development, Avalon Homes, Inc., between the Authority, the City, the
Developer and the Successor Developer (the "Assignment "), and finds that the execution thereof is
in the best interest of the City and its residents.
Section 2. City Approval; Further Proceedings.
2.01. The Assignment as presented to the Council is hereby in all respects approved,
subject to modifications that do not alter the substance of the transaction and that are approved by
the Mayor and City Administrator, provided that execution of the documents by such officials shall
be conclusive evidence of approval.
2.02. The Mayor and City Administrator are hereby authorized to execute on behalf of the
City the Assignment and any documents referenced therein requiring execution by the Authority,
and to carry out, on behalf of the City its obligations thereunder.
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• Approved by the City Council of the City of Lino Lakes, Minnesota this 13th of November,
2006.
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The motion for adoption of
by. Council Member O'Donnell and
voted in favor thereof:
Reinert, O'Donnell, Carlson,
the foregoing resolution was duly seconded
upon a vote being taken thereon, the following
Stoltz, Berge
The following voted against the same:none
ATTEST:
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AGENDA ITEM 6C
STAFF ORIGINATOR: Mary Alice Divine
DATE: 011/13/06
TOPIC: i. Consideration of Resolution No. 06 -186
Approving the Assignment and Release of
Certain Obligations under the Contract for
Private Development with Hartford
Development, Inc.
ii. Consideration of Resolution No. 06 -187
Approving the Release of Obligations under
the Contract for Subdivision /Planned Unit
Development with Hartford Development, Inc.
Vote Required: Simple Majority
BACKGROUND:
The City Council entered into a Contract for Private Development (amended
September 13, 2005) and Contract for Subdivision /Planned Unit Development
with the Hartford Group on December 21, 2004, setting forth the terms and
conditions of redevelopment for Legacy at Woods Edge.
Hartford Group plans to sell a portion of the development property to Avalon
Homes, Inc., for the construction of Phase 1 of the townhome site and has asked
to be released from the terms and conditions of those contracts as to the subject
parcel.
The city has approved the Phase 1 townhome site plan. This action releases the
Hartford Group from the conditions that will be assumed by Avalon Homes, Inc.
This release will be delivered upon approval of the site development agreement
with Avalon Homes.
The Economic Development Authority acted earlier this evening on the Contract
for Private Development. The City of Lino Lakes is required to act on the release
of both contracts. Both resolutions can be approved with one motion.
OPTIONS:
1. Approve Resolution Nos. 06 -186 and 06 -187 Approving the Release of
Obligations for the Contract for Private Development and the Contract for
Subdivision /PUD the Resolutions.
2. Return to staff for further consideration.
RECOMMENDATION:
Option 1
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