Agenda - Council - 09/13/2016 - Laserfiche WebLink

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CITY OF RAMSEY AMENDED AND RESTATED DEVELOPMENT CONTRACT (PARTIAL RELEASE) FOR ALPHA DEVELOPMENT This Amendment dated this day of , 2016, and is by and between the CITY OF RAMSEY, a Minnesota municipal corporation (the "CITY"), and Hageman Holdings, LLC ("PERMITTEE"), a Minnesota limited liability company having an address for purposes of this Contract of 13200 43th St. NE, St. Michael, MN 55376. WHEREAS, PERMITTEE is the owner of fee title to land situated within the city limits of the City, Anoka County, Minnesota, legally described as follows (the "Property"): Lot 1, Block 1 and Outlots A, B, C, and D, ALPHA DEVELOPMENT, Anoka County, Minnesota. WHEREAS, the CITY and the PERMITTEE are party to a Development Contract and Assessment Agreement, both dated May 19, 2011 (the "Agreements"); and WHEREAS, the CITY required certain public improvements (the "Public Improvements"), also known as Stage I and Stage II Improvements, which have been completed; and WHEREAS, the PERMITTEE proposed the construction of various private improvements (the "Private Improvements") that were not completed, but were included in the original Development Contract. NOW, THEREFORE, the CITY and PERMITTEE agree as follows: 1. The Development Contract is hereby terminated and this agreement ("Amendment") is substituted in its place. 2. Development Fees. The PERMITTEE is responsible for the repayment of certain development fees. Said fees were satisfied by, and are to repaid through, special assessments outlined in the Assessment Agreement. The CITY will release this section of this Amendment when the terms of the associated Assessment Agreement are completed. a. Park Dedication. The Plat is located in the CITY's Greenland Hills District. The current park dedication requirement is $4,738 per commercial acre. At the City Council meeting on October 26, 2010, the Council accepted the recommendation of the Park Commission to accept, in full satisfaction of the park dedication requirement for the Plat, fee title to a 4.175 acre Outlot in the Plat. As a condition to the CITY' S release of the Plat for recording, PER1VITTEE shall convey to the CITY fee title to the 4.175 acre Outlot C as shown on the proposed Plat, dated November 1, 2010 prepared by Anderson Engineering of Minnesota, LLC. The CITY and PERMITTEE agree that said Outlot is not being dedicated as park, but being transferred in fee -title to the CITY. ALPHA DEVELOPMENT Amended Development Contract -1-