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HRA Regular Session <br />Meeting Date: 12/10/2013 <br />By: Tim Gladhill, Community Development <br />5. 1. <br />Information <br />Title: <br />Adopt Resolution #13-12-233 Approving Conveyance of Outlots B & C COR TWO to Northstar Marketplace <br />Station, LLC <br />Purpose/Background: <br />The HRA approved the Final Plat for COR TWO NORTHSTAR on November 26, 2013, which was originally part <br />of the COR TWO Plat. In order to ensure the proper recording of said Plat, Staff is suggesting the adoption of the <br />approved resolution to avoid any potential barriers to recording. It is assumed that the previously approved <br />agreements with Sophia -Ramsey, LLC shall be sufficient. However, given that this is the last HRA meeting for the <br />year, Staff is suggesting this resolution to avoid any potential delays with recording, which would result in a delay <br />after the first of the year. The impetus is the change in legal descriptions from the originally approved agreements. <br />Notification: <br />No notification required at this time. The revised Plat is consistent with past approvals. <br />Observations/Alternatives: <br />The City Council previously granted Final Plat Approval to COR TWO in 2012. At that time, the plat included <br />reconfiguration of Lots 1 and 2, Ramsey Town Center 3rd Addition. The Ramsey Town Center 3rd Addition is <br />more commonly known as Northstar Marketplace or the Coborn's anchored retail center. Due to timing of the plat <br />and associated tax requirements, the owners of Lots 1 and 2 have requested a delay to recording the plat of COR <br />TWO. <br />Presently, the legal description of the parcels in question are Outlots B & C, COR TWO. However, once conveyed <br />to Northstar Marketplace Station, LLC, they will be absorbed into the yet to be recorded plat known as COR TWO <br />NORTHSTAR, which has already been approved by the HRA. This resolution will provide additional assurances <br />that the plat can be properly recorded by the end of the year. <br />Funding Source: <br />All costs associated with the Application are the responsibility of the Applicant. <br />Recommendation: <br />Staff recommends that the HRA adopt Resolution #13-12-232 approving the conveyance of Outlots B & C, COR <br />TWO to Northstar Marketplace Station, LLC. <br />Action: <br />Motion to adopt Resolution #13-12-232 approving the conveyance of Outlots B & C, COR TWO to Northstar <br />Marketplace Station, LLC. <br />Attachments <br />COR TWO Plat <br />Resolution #13-12-233 <br />