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convey fee -title ownership to the City. However, it should be noted that there are other viable options to address the grant award. These options include, but are not limited to, conveying a permanent road easement via quit claim deed or the recording a right-of-way plat. A right-of-way plat would dedicate the necessary right-of-way for Sunwood Drive, but would not satisfy certain terms of purchase agreements with the HRA, nor provide the necessary buildable parcels necessary to facilitate the projects referenced above. Due to timing, Staff has not been able to discuss costs associated with these options. Given the situation with Sophia Ramsey, an alternative platting scenario is being proposed and this case seeks the HRA's direction as to how they would like to proceed. The new scenario would require a redraft of the plat, and modifications to the existing easements and real estate documents. The cost for this effort is estimated at approximately $10,000 in legal, drafting, and reproduction costs. These costs could be recovered through the sale of the remnant parcels to Sophia Ramsey. It is noted that this expense has not currently been budgeted within the HRA budget. Staff will be prepared to discuss interim funding options at the HRA meeting, though is not providing a recommendation at this time. The attached sketch outlines the proposed modification to the plat, and the remnant parcels created (Outlots B and C). Staff notes, as clarification for the requested action, that the request this evening is for authorization to prepare revised documents. However, it is understood that this is not giving City approval to the form of any of the documents referenced. Although the proposal has been discussed with the City's Planning and Engineering Divisions, there has not been any formal approval or recommendation given. Staff approval requires being able to review the proposed lot line configuration in more detail. It will also be necessary to work with the City Attorney to revise the right-of-way vacation for the former Sunwood Drive segment as it relates to future lot line configuration. Staff requests that tonight's action be made contingent on a detailed review of the sketch to ensure there are not any major barriers prior to preparing the revised plat. Recommendation: It is recommended that the HRA proceed with the modification to the plat of COR TWO, and revise documents necessary to record the plat, contingent upon the HRA receiving adequate written agreement or cash escrow from Sophia -Ramsey to cover the costs incurred to the HRA as noted above, or securing some other form of guarantee to ensure the adequate repayment to the HRA. The development team recommends the HRA propose the sale of the remnant parcels shown as Outlots B and C to Sophia Ramsey, LLC with the condition that they re -plat the parcels before December 31, 2013. Upon successful acquisition of the parcels, the HRA would grant the access easement over the HRA lots as shown in the current documents. Funding Source: Funding for preparation of the revised plat and associated documents has been proposed as proceeds of Land Sales - Sunwood Retail Area. Staff notes that it will verify the existence of current funding, to be paid back when appropriate sale proceeds is available. Council Action: Motion to enter into record a Request for Work Order from Landform Professional Services in the amount of $10,000 to support the request for additional services noted in the Staff Report. -AND- Motion to authorize the Executive Director to execute a work order with Landform Professional Services in the amount not to exceed $10,000 and to direct the development team to proceed with the modification to the plat of COR TWO and revise documents necessary to record the plat.