6.23.
| CC Regular Session New |
| Meeting Date: | 09/24/2024 |
| Primary Strategic Plan Initiative: | {ud_pd4} |
Title:
Adopt Resolution #24-281 Approving Release of Assessment Agreement for Outlot D, Ramsey Town Center 11th Addition
Purpose/Background:
The purpose of this case is to consider executing a release of special assessments levied against Outlot D, Ramsey Town Center 11th Addition for the 133 unit, amenity rich Skyline apartment project in the COR. Staff has been approached by a title company (Registered Abstracters) looking to close on financing for the Skyline apartment project. The title work shows an outstanding special assessment for Outlot d RTC 11th Addition. 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 Deferred Assessment Agreement filed as document number 1992150.001 should be executed by the Council and provided to the title company (Registered Abstracters) for recording.
Time Frame/Observations/Alternatives:
The Special Assessment Agreement filed as document number 1992150.001 (see attached) for Outlot D, Ramsy Town Center 11th Addition has been paid in full. Staff and the City Attorney has reviewed release for the deferred special assessments and it is "Approved as to Form" Staff is presenting Resolution #24-281 for consideration by the Council.
Alternatives Include:
1) Adopt Resolution #24-281 Approving Release of Assessment Agreement for Outlot D, Ramsey Town Center 11th Addition (as presented); subject to City Attorney review
2) Adopt Resolution #24-281 Approving Release of Assessment Agreement for Outlot D, Ramsey Town Center 11th Addition (with changes); subject to City Attorney review
3) Something Else
Alternatives Include:
1) Adopt Resolution #24-281 Approving Release of Assessment Agreement for Outlot D, Ramsey Town Center 11th Addition (as presented); subject to City Attorney review
2) Adopt Resolution #24-281 Approving Release of Assessment Agreement for Outlot D, Ramsey Town Center 11th Addition (with changes); subject to City Attorney review
3) Something Else
Funding Source:
There is no cost to the City as the document was drafted by the title company. The title company will be recording the release so there is no recording cost to the city.
Recommendation:
Staff recommends adoption of Resolution #24-281 Approving Release of Assessment Agreement for Outlot D, Ramsey Town Center 11th Addition (as presented); subject to City Attorney review
Outcome/Action:
Motion to adopt Resolution #24-281 Approving Release of Assessment Agreement for Outlot D, Ramsey Town Center 11th Addition (as presented); subject to City Attorney review
Attachments
- Site Location Map
- ACTION - Resolution #24-281
- ACTION - Release of Deferred Special Assessments
- Reference - Recorded Deferred Assessment Agreement
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Brian Hagen | Brian Hagen | 09/19/2024 12:49 PM |
- Form Started By:
- Sean Sullivan
- Started On:
- 09/18/2024 08:44 AM
- Final Approval Date:
- 09/19/2024