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6. 12. <br />CC Regular Session New <br />Meeting Date: 09/24/2024 <br />Primary Strategic Plan Initiative: Promote economic growth and development. <br />Title: <br />Adopt Resolution #24-260 Approving Release of Assessment Agreement for Riverstone Plat <br />Purpose/Background: <br />The purpose of this case is to consider executing a release of special assessments levied against the Riverstone <br />Plat for the Puma Street project. Staff has been approached by a title company looking to close a property sale in <br />the Riverstone plat Development. The title work shows an outstanding special assessment for all lots in the <br />Riverstone Plat west of Puma Street. Staff consulted with the Finance Department and verified that the special <br />assessments have been paid in full on this parcel and the plat and a Release of the Assessment Agreement filed as <br />document number 2176959.004 should be executed by the Council and provided to the title company for <br />recording. <br />Notification: <br />None required <br />Time Frame/Observations/Alternatives: <br />The Special Assessment Agreement filed as document number 2176959.004 (see attached) for the Riverstone Plat <br />has been paid in full. Staff has drafted a blanket release for the special assessments filed on the Riverstone Plat <br />that has been reviewed and approved by Attorney Knaak. The filing of a blanket release will remove the need for <br />the City to provide releases for each individual lot whenever each sale occurs. Staff is presenting Resolution <br />#24-260 for consideration by the Council. <br />Alternatives Include: <br />1) Adopt Resolution #24-260 Approving Release of Assessment Agreement for Riverstone Plat (as <br />presented); subject to City Attorney review <br />2) Adopt Resolution #24-260 Approving Release of Assessment Agreement for Riverstone Plat (with <br />changes); subject to City Attorney review <br />3) Something Else <br />Funding Source: <br />This item is covered under Staff duties <br />Recommendation: <br />1) Staff recommends adoption of Resolution #24-260 Approving Release of Assessment Agreement for <br />Riverstone Plat (as presented); subject to City Attorney review <br />Outcome/Action: <br />Motion to adopt Resolution #24-260 Approving Release of Assessment Agreement for Riverstone Plat <br />(as presented); subject to City Attorney review <br />Attachments <br />ACTION - Resolution #24-260 <br />