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April 1, 2019 Item No. ______
PARTIAL RELEASE OF DEVELOPMENT CONTRACT
PROPOSED ACTION
Staff recommends adoption of the following motion: Move to approve the partial
release of development contract recorded against Outlot A and Lot 1, Block 1, First Park
Lakeville 3rd Addition.
Adoption of this motion will formally release the property owner from the original
development contract recorded against the property title.
OVERVIEW
FR/CAL Interstate South, LLC, owner of the property included in the First Park Lakeville 3rd
Addition plat was approved by the City Council on October 3, 2011. The owner has an
agreement to sell the property included in this plat and is requesting that the underlying
development contract assigned to Outlot A and Lot 1, Block 1, First Park Lakeville 3rd
Addition, be released allowing said development contract to be released from the property
title. Staff has determined that the requirements and obligations of the development
contract have been met. Attached is the proposed 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 2011.
SUPPORTING INFORMATION
• Partial release of development contract
Financial Impact: $ None Budgeted: Y/N ____ Source: __________________________
Related Documents (CIP, ERP, etc.): _First Park Lakeville 3rd Addition development contract__________
Notes: Envision Lakeville Community Values: Diversified Economic Development__________________
Report completed by: David Olson, Community & Economic Development Director
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PARTIAL RELEASE OF
DEVELOPMENT CONTRACT
PARTIAL RELEASE OF DEVELOPMENT CONTRACT granted this 1st day of
April, 2019, by the CITY OF LAKEVILLE, a Minnesota municipal corporation (“City”).
Recitals
WHEREAS, the City and FR/CAL Interstate South, LLC, a Delaware limited liability
company, entered into a Development Contract for the plat of First Park Lakeville 3rd Addition, dated
October 3, 2011 and filed for record with the Dakota County Recorder on January 12, 2012 as
Document No. 2842206 (“Development Contract”).
WHEREAS, the City has been requested to release and discharge Outlot A and Lot 1, Block
1 First Park Lakeville 3rd Addition 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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STATE OF MINNESOTA )
)ss.
COUNTY OF DAKOTA )
The foregoing instrument was acknowledged before me this ________ day of
______________, 2019, 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:
CITY OF LAKEVILLE
20195 Holyoke Avenue
Lakeville, MN 55044
952-985-4420