Laserfiche WebLink
CASE # 7 <br /> <br />AUTIIORIZE COMPLIANCE WITH RAMSEY TOWN CENTER, LLC/ <br /> CITY OF RAMSEY RE-CONVEYANCE AGREEMENT <br /> <br />By: William K. Goodrich, City Attorney <br /> <br />l~ackgronnd: <br /> <br />[i~ l:cbruary, 2005 when the City entered into the First Amendment to the Master Development <br />Agreement regarding Ramsey Town Center, it was necessary for the City and Ramsey Town <br />(!enter, I,I,C to enter into a Re-Conveyancing Agreement. The purpose of the Re-Conveyancing <br />Agreement was as follows: Parts of the land for Ramsey Town Center Fifth Addition, where the <br />new City [ lall/?arking Ramp is located together with the cinema option parcel and the community <br />center option parcel were Torrens parcels. Because of this Torrens status the County Recorder <br />would not permit metes and bounds subdivisions of the underlying Outlots comprising Ramsey <br />~l'own Center Fifth Addition to be recorded. Therefore, Ramsey Town Center, LLC conveyed more <br />land to the City than necessary for Ramsey Town Center Fifth Addition in order to record the <br />various documents comprising the First Amendment. Now that Ramsey Town Center Fifth <br />/Xddition has been recorded, the Re-Conveyancing Agreement requires the City to convey back to <br />l~,amscy Town Center, LLC the excess property. <br /> <br />Since thc subject property was titled in the City's name, the property tax statement was addressed to <br />thc (iity and the City paid property taxes on property which is to be re-conveyed to Ramsey Town <br />('enter. l,l~C. The City should not execute the deed for the re-conveyance until the property taxes <br />paid by thc City are reimbursed to the City. <br /> <br />~['he February 28, 2005 Re-Conveyancing Agreement. <br />l'roposcd ordinance permitting the re-conveyance to Ramsey Town Center, LLC including <br />attached Exhibit A legal description. <br /> <br />Recommendation: <br /> <br />'1 hat thc City introduce the enclosed ordinance but condition execution of the requisite limited <br />warranty deed upon payment by Ramsey Town Center, LLC of the property taxes the City has paid <br />(m its l:)chalt: <br /> <br />(iouncil Action: <br /> <br />Motion to introduce a sale ordinance authorizing the City to convey to Ramsey Town Center, LLC <br />tl~c property described in the said ordinance. The City shall not execute the deed authorized by the <br />sale ordinance referenced in this motion until all outstanding property taxes paid by the city on the <br />r~>c{mvcycd property are reimbursed to the City. <br /> <br />Review Checklist: <br />(~ity Attorney <br />£~ity Administrator <br /> <br />(:C: I 1/07/05 <br /> <br /> <br />