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HRA Regular Session 5.3. <br />Meeting Date: 02/ 14/2012 <br />By: Heidi Nelson, Administrative Services <br />Title: <br />Consider Memorandum of Intent Regarding Resolution to the Master Declaration/Association <br />Background: <br />The Development Management Team has been working for some time to find resolution to the issue of the Master <br />Declaration/Association. The Master Declaration is a document that was drafted by the former Master Developer <br />and filed against the properties owned by the former Ramsey Town Center LLC. The Master Declaration, in short, <br />created a master association that was responsible for the management of common maintenance and design <br />standards. The master association was never formally established nor functioned to perform those management <br />items. The HRA's desire has been to either amend and restate the master declaration to meet current needs for <br />common maintenance or eliminate it from the title of its properties. <br />The Development Management Team has been negotiating primarily with PSD LLC (Jim Deal) to resolve this <br />matter, as the other significant land owner in the now COR at Ramsey. The attached Memorandum of Intent <br />(MOI) reflects an agreement with Mr. Deal and his affiliates to release the lands owned by the HRA from the <br />Master Declaration and remove it from the HRA's title(s). Additionally, the MOI provides that the HRA may, at its <br />option, include properties owned on the east end of the COR (see attached exhibit) in the master association and <br />prohibits the HRA from establishing a special service district on lands owned by Mr. Deal or his afficiliates for a <br />period of 25 years (see attached exhibit). <br />Observations: <br />Mr. Tom Bray, HRA Legal Counsel, will be present for the meeting to review the resolution to the Master <br />Declaration and the next steps in removing the Master Declaration from the title of HRA properties in The COR at <br />Ramsey. <br />Recommendation: <br />The Development Managment Team is recommending that the HRA approve the attached Memorandum of Intent <br />for the resolution to the Master Declaration. <br />Funding Source: <br />HRA legal. <br />Council Action: <br />HRA Action: Approve the attached Memorandum of Intent for the resolution to the Master Declaration. <br />Memorandum of Intent <br />Exhibit <br />Master Declaration document <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Heidi Nelson (Originator) Heidi Nelson 02/09/2012 02:57 PM <br />Form Started By: Heidi Nelson Started On: 02/09/2012 01:40 PM <br />Final Approval Date: 02/09/2012 <br />