Adopt Resolution #24-260 Approving Release of Assessment Agreement for Riverstone Plat

The purpose of this case is to consider executing a release of special assessments levied against the Riverstone Plat for the Puma Street project.  Staff has been approached by a title company looking to close a property sale in the Riverstone plat Development.  The title work shows an outstanding special assessment for all lots in the Riverstone Plat west of Puma Street.  Staff consulted with the Finance Department and verified that the special assessments have been paid in full on this parcel and the plat and a Release of the Assessment Agreement filed as document number 2176959.004 should be executed by the Council and provided to the title company for recording. 

None required

The Special Assessment Agreement filed as document number 2176959.004 (see attached) for the Riverstone Plat has been paid in full.  Staff has drafted a blanket release for the special assessments filed on the Riverstone Plat that has been reviewed and approved by Attorney Knaak. The filing of a blanket release will remove the need for the City to provide releases for each individual lot whenever each sale occurs.  Staff is presenting Resolution #24-260 for consideration by the Council.

Alternatives Include:
1) Adopt Resolution #24-260 Approving Release of Assessment Agreement for Riverstone Plat (as presented); subject to City Attorney review
2) Adopt Resolution #24-260 Approving Release of Assessment Agreement for Riverstone Plat (with changes); subject to City Attorney review
3) Something Else

This item is covered under Staff duties