HomeMy WebLinkAboutItem 06.u
Date: Item No.
RELEASE OF CONTRACT
FOR PRIVATE DEVELOPMENT
Proposed Action
Staff recommends adoption of the following motion: Move to approve the release of contract.
Overview
In the late 1990’s the City purchased 60 acres of land located on the west side of Dodd
Boulevard and north of 183rd Street as part of the King Park acquisition. In 2005 25.24 acres
was sold to Lifetime Fitness for the construction of their facility and in 2007 7.5 acres was used
for the construction of the Police Station. The remaining 19 acres was sold to KRB
Development on June 1, 2016 and platted as a single family development called Nicholas
Estates.
When completing the title work for selling the property to KRB Development it was found the
19 acres had been previously included in the Lifetime Fitness development contract. KRB
Development has requested the 19 acres be released from the Lifetime Fitness development
contract since the area is now covered under the Nicholas Estates development contract. Staff
recommends approval to release the 19 acres from the Lifetime Fitness Development contract.
Primary Issues to Consider
• None.
Supporting Information
• Location Map
• Release of Contract
Financial Impact: $ Budgeted: Y☐ N☐ Source:
Related Documents: (CIP, ERP, etc.):
Envision Lakeville Community Values: A Home for All Ages and Stages of Life
Report Completed by: Allyn G. Kuennen
June 6, 2016
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(reserved for recording information)
RELEASE OF CONTRACT
FOR PRIVATE DEVELOPMENT
RELEASE granted June 6, 2016, by the CITY OF LAKEVILLE, a Minnesota municipal
corporation ("City").
WHEREAS, the City and LTF Real Estate Company, Inc., a Minnesota corporation
(“LTF”) entered into a Contract for Private Development dated April 17, 2006, and filed for record
with the Dakota County Recorder June 23, 2006, as Document No. 2440101, which Contract for
Private Development was amended by the recording of a First Amendment to Contract for Private
Development dated June 5, 2006, and filed for record June 23, 2006, as Document No. 2440102
(“Life Time Fitness Contract”).
WHEREAS, the City has been requested to release certain property from the Life Time
Fitness Contract;
NOW THEREFORE, be it resolved by the Lakeville City Council that the real property
legally described on the attached Exhibit “A” is released from the Life Time Fitness Contract.
ADOPTED this 6th day of June, 2016
CITY OF LAKEVILLE
BY: _______________________________________
Matt Little, Mayor
(SEAL)
AND ______________________________________
Charlene Friedges, City Clerk
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STATE OF MINNESOTA )
)ss.
COUNTY OF DAKOTA )
The foregoing instrument was acknowledged before me this 6th day of June, 2016, by Matt
Little and Charlene Friedges, respectively the Mayor and City Clerk of the City of Lakeville, a
Minnesota municipal corporation, on behalf of the corporation and pursuant to the authority granted
by its City Council.
___________________________________________
Notary Public
THIS INSTRUMENT WAS DRAFTED BY:
CAMPBELL KNUTSON
Professional Association
Grand Oak Office Center I
860 Blue Gentian Road, Suite 290
Eagan, Minnesota 55121
651-452-5000
AMP/cjh
EXHIBIT “A”
Lots 1 through 3, Block 1; Lots 1 through 9, Block 2; Lots 1 through 9, Block 3; Lots 1 through
14, Block 4; Lots 1 through 9, Block 5 and Outlot A, Nicholas Estates, according to the recorded
plat thereof, Dakota County, Minnesota.
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POLICEDEPARTMENT
WATERTREATMENTFACILITY King Park
Water TreatmentFacility WetlandConservation Area
FIRESTATION #4
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