HomeMy WebLinkAboutItem 06.l
Date: Item No.
RELEASE OF DEVELOPMENT CONTRACT
KENYON RETAIL
Proposed Action
Staff recommends adoption of the following motion: Move to approve the release of
development contract recorded against Lots 1 and 2, Block 1, Kenyon Retail.
Overview
TMSC of Lakeville, LLC (The Moments of Lakeville), owner of the property located at 16258
Kenyon Avenue, has requested the release of the 2015 development contract between the City of
Lakeville and the previous owner of the property, Diversified Equity Investments, LLC. All
requirements of the 2015 development contract have been fulfilled.
Adoption of this motion will formally release the property from the development contract
recorded as Dakota County Document No. A3147248.
Primary Issues to Consider
• None
Supporting Information
• Release of development contract form
Financial Impact: $ Budgeted: Y☐ N☐ Source:
Related Documents: (CIP, ERP, etc.):
Envision Lakeville Community Values: Diversified Economic Development
Report Completed by: Frank Dempsey, Associate Planner
August 17, 2020
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(reserved for recording information)
RELEASE OF
DEVELOPMENT CONTRACT
RELEASE OF DEVELOPMENT CONTRACT granted this ______ day of
________________, 2020, by the CITY OF LAKEVILLE, a Minnesota municipal corporation
(“City”).
WHEREAS, the City and Diversified Equity Investments, LLC, a Minnesota limited
liability company, have entered into a Development Contract dated November 2, 2015 and
recorded August 31, 2016, as Dakota County Document No. A3147248; and
WHEREAS, the City has been requested to release and discharge the property legally
described on Exhibit A (“Property”) from the Contract;
WHEREAS, all requirements of the Contract have been met as to the Property and there
is no longer a need to have the Contract recorded against the Property.
NOW THEREFORE, be it resolved by the City of Lakeville, Minnesota:
The Property is released and discharged from the Contract.
ADOPTED this _____ day of _______________, 2020.
[Remainder of the page is intentionally left blank.
Signature page is to follow.]
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CITY OF LAKEVILLE
(Seal)
By ____________________________________
Douglas P. Anderson, Mayor
By ____________________________________
Charlene Friedges, City Clerk
STATE OF MINNESOTA )
) ss.
COUNTY OF DAKOTA )
The foregoing instrument was acknowledged before me this _____ day of ____________,
2020, by Douglas P. Anderson and Charlene Friedges, respectively the Mayor and the 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
DRAFTED BY:
CAMPBELL KNUTSON,
Professional Association
Grand Oak Office Center I
860 Blue Gentian Road, Suite 290
Eagan, Minnesota 55121
Telephone: (651) 452-5000
AMP/smt
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EXHIBIT A
Lots 1 and 2, Block 1, Kenyon Retail, Dakota County, Minnesota, according to the recorded plat
thereof.
(Abstract Property)