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CC Regular Session <br />Meeting Date: 11/12/2019 <br />By: Sean Sullivan, Community <br />Development <br />Information <br />5.10. <br />Title <br />Adopt Resolution # 19-275 Approving Release of Right of Re -Entry Agreement for Affinity at Ramsey, LLC <br />Purpose/Background: <br />Purpose: To release Affinity at Ramsey, LLC from Right of Re -Entry Agreement <br />Background: The City of Ramsey entered into a right or Re -Entry Agreement with Affinity at Ramsey, LLC, <br />recorded as document number 558797.009 in the Anoka County Office of the Registrar of Titles to ensure that the <br />property would develop according to the approved site plan and within the approved project deadline. Affinity at <br />Ramsey, LLC has presented a Certificate of Occupancy documenting the the project has been completed within the <br />deadline (30 months from closing) and has requested that the City release the property from the Right of Re -Entry <br />Agreement. <br />Notification: <br />Notification is not required. <br />Observations/Alternatives: <br />The City has received the Certificate of Occupancy and has drafted a Release of Right of Entry Agreement that has <br />been reviewed by the City Attorney. The attached release will satisfy the Buyer's request by its lender. <br />Funding Source: <br />This case is being handled as part of normal Staff duties. <br />Recommendation: <br />Staff recommends adoption of Resolution # 19-275 Approving Release of Right of Re -Entry Agreement for Affinity <br />at Ramsey, LLC; subject to City Attorney approval <br />Action: <br />Motion to adopt Resolution # 19-275 Approving Release of Right of Re -Entry Agreement for Affinity at Ramsey, <br />LLC, subject to City Attorney approval <br />Attachments <br />Resolution # 19-275 <br />Release of Right of Re -Entry Agreement <br />Right of Re -Entry Agreement <br />Certificate of Occupancy <br />Form Review <br />Inbox Reviewed By Date <br />Tim Gladhill Sean Sullivan 11/07/2019 11:15 AM <br />