HomeMy WebLinkAboutItem 06.l
Date: Item No. ____
PARTIAL RELEASE OF DEVELOPMENT CONTRACT
LOT 1, BLOCK 1, KENRICK CORNER (PORTERHOUSE STEAKHOUSE)
Proposed Action
Staff recommends adoption of the following motion: Move to approve the partial release of
development contract recorded against Lot 1, Block 1, Kenrick Corner.
Overview
421 Koehler, Rd, LLP owner of the Porterhouse Steakhouse property are requesting that the
underlying development contract assigned to Lot 1, Block 1 Kenrick Corner be released, allowing
said development contract to be released from the property title. The City Council approved the
final plat and development contract for Kenrick Corner that was recorded on May 4, 2007. Staff has
determined that the requirements and obligations of the development contract have been met. The
City Attorney drafted the attached release of development contract.
Primary Issues to Consider
How will the partial release of development contract affect the property? The requirements of the
original development contract have been satisfied. Release of the development contract and assessment
agreement will free the property title from requirements of the original development contract and
assessment agreement approved by the City Council in 2007.
Supporting Information
• Partial release of development contract
• Letter requesting the release of the Lot 1, Block 1, Kenrick Corner Development Contract
Financial Impact: $ Budgeted: Y☐ N☐ Source:
Related Documents: First Park Lakeville development contract
Envision Lakeville Community Values: Diversified Economic Development
Report Completed by: David L. Olson, Community and Economic Development Director
May 15, 2017
None
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192490v1
PARTIAL RELEASE OF
DEVELOPMENT CONTRACT
PARTIAL RELEASE OF DEVELOPMENT CONTRACT granted this ______ day
of _________________, 2017, by the CITY OF LAKEVILLE, a Minnesota municipal
corporation (“City”).
Recitals
WHEREAS, the City and Kenrick Corner, LLC, a Minnesota limited liability company,
entered into a Development Contract for the plat of Kenrick Corner, dated March 19, 2007 and filed
for record with the Dakota County Registrar of Titles on May 4, 2007 as Torrens Document No.
610106.1 (“Development Contract”).
WHEREAS, the City has been requested to release and discharge Lot 1, Block 1, Kenrick
Corner, Dakota County, Minnesota (“Subject Property”) from the Development Contract.
WHEREAS, all requirements of the Development Contract have been met as to the Subject
Property and there is no longer a need to have the Development Contract recorded against the
Subject Property.
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
The Subject Property is hereby released and discharged from the Development Contract.
CITY OF LAKEVILLE
BY: ______________________________________
Douglas P. Anderson, Mayor
(SEAL)
AND:____________________________________
Charlene Friedges, City Clerk
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192490v1
STATE OF MINNESOTA )
)ss.
COUNTY OF DAKOTA )
The foregoing instrument was acknowledged before me this ________ day of
______________, 2017, by Douglas P. Anderson and by Charlene Friedges, 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