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August 15, 2016 Item No. ______
TERMINATION OF DEVELOPMENT CONTRACT WITH MILLS PROPERTIES LLC
PROPOSED ACTION
Staff recommends adoption of the following motion: Move to approve the Termination of
Development Contract with Mills Properties LLC.
OVERVIEW
The new owner of Mills Fleet Farm (Mills Properties LLC) is requesting that the original
development contract for the development of the Fleet Farm Store be terminated. This project
was completed approximately 30 years ago and all of the developer responsibilities were
completed many years ago.
The proposed Contract Termination has been reviewed and approved by the City Attorney’s
office. Staff recommends approval.
PRIMARY ISSUES TO CONSIDER
How will the termination of the development contract affect the property? It will document that all
of the development related obligations of the original developer of this property have been met.
SUPPORTING INFORMATION
◊ Termination of Development Contract with Mills Properties LLC
◊ Location Aerial Photo
Financial Impact: $ None Budgeted: Y☐ N☒ Source:
Related Documents: (CIP, ERP, etc.):
Envision Lakeville Community Values: Diversified Economic Development
Report Completed by: David L. Olson, Community and Economic Development Director
None