Adopt Resolution #21-250 Releasing Agreements for Lot 2, Block 1 Amsterdam Extension, Case of Oppidan, LLC

The purpose of this case is to release Lot 2, Block 1, Amsterdam Extension (the "Subject Property"), from four past development agreements that are no longer necessary for the land, two of which have multiple iterations to be released (6 total agreements to be released). This is a standard and typical case for the City, that happens when land is sold from one party to another. In this situation, Hageman Holdings, LLC is selling the piece of land to Oppidan, LLC for a 3 building industrial project, which has been fully approved by the City. In preparation for closing, the title company has found past, expired agreements still tied to the property. The Subject Property is on the north side of Bunker Lake Blvd, east of Delta ModTech and Puma St, west of Armstrong Blvd. 

The Applicant and Staff are requesting that the City release the Subject Property from the six agreements. The items outlined in these contracts are no longer necessary on this piece of land. The City Attorney is reviewing the request, which is a contingency of approval. The land closing is anticipated to occur on or shortly after August 25, 2021

N/A

The Applicant is responsible for all costs associated with this request.

Staff recommends adoption of Resolution #21-250.

Motion to adopt Resolution #21-250.