Agenda - Council - 07/28/2015 - Laserfiche WebLink

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CC Regular Session Meeting Date: 07/28/2015 Submitted For: Patrick Brama, Administrative Services By: Patrick Brama, Administrative Services Information 4. 5. Title Adopt Resolution H15-07 177 Approving Multiple Agreements Related to the Previously Approved Purchase Agreement, Site Plan Approval, and Livable Communities Grant for Sunwood Village; Case of Come Communities - Please Note: This item was removed from Consent and placed on the Regular Agenda as Item 7.06. Purpose/Background: The purpose of this case is to consider multiple agreement related to the future Sunwood Village project, a 47 -unit apartment building by CommonBond Communities. The site plan has been previously approved by the City Council. The purpose of this case is to approve the necessary legal documents in order to allow the project to commence to construction. The following agreements are offered for the City Council's consideration. The project is anticipated to commence in August or September of this year. 1. Amended Reciprocal Driveway and Drainage and Utility Easement (correct legal description on existing easement) 2. Amended Development Agreement 3. Amended Easement Agreement 4. Metropolitan Council Livable Communities Sub -Grant Agreement Notification: Notification is not required to approve these agreements. Observations/Alternatives: Reciprocal Driveway and Drainage and Utility Easement This case is a "house-cleaning" item. An error occurred when an original "Reciprocal Driveway and Drainage and Utility Easement" was recorded for The Residence at The COR project (it also encumbered Outlot A, COR ONE, where Sunwood Village will be located). Specifically, an incorrect legal description of an easement. As part of the development adjacent to The Residence at The COR, Sunwood Village (Common Bond), title work/ research was completed. As part of that due diligence process, said error in the original easement was found. The amendment attached to this case is purely an administrative correction. It does not change the intent of the original easement in any way; and it does not negatively affect the City in any way. The City Attorney has reviewed this amendment. Amended Development Agreement CommonBond Communities has requested several revisions to the Development Agreement for the Sunwood Village project. The City Council approved the Plat, Site Plan and Development Agreement for Sunwood Village on May 12, 2015. The most significant requested revisions are: 1. Replace CommonBond Communities with CB Ramsey Housing Limited Partnership as the Permittee (CB Ramsey Housing Limited Partnership will be the owner of the Subject Property upon successfully closing on the land transaction with the City). 2. Extend the completion date out from May 12, 2016 to December 31, 2016. 3. Include a provision/mechanism to issue the Building Permit for the project prior to recording of the Plat.