Review Agreement with PSD regarding Master Declaration Resolution

The HRA has previously discussed the issues related to the existing Master Declaration that encumbers a portion of the HRA property.  There has been extensive discussion over the last 18 months regarding potential resolutions to this matter.

The HRA previously approved and executed a memo of understanding outlining a proposed resolution with the HRA and PSD.LLC whereby the parties would work collectively to prepare a binding agreement and resolve the title issues related to the master declaration.

Tom Bray and counsel for PSD have worked through this agreement, and the development team would like to review the status of this agreement, and if acceptable approve and execute the binding agreement.

The development management team recommends the HRA review the proposed binding agreement, and if acceptable direct staff to make final modifications and execute the document.

N/A

Approve the proposed agreement outlining the resolution of issues related to the master declaration for Ramsey Town Center, and direct staff to make necessary modifications, execute the agreement, and work to complete the items outlined.