7.4.
CC Regular Session
- Meeting Date:
- 05/10/2011
- By:
- Heidi Nelson, Administrative Services
Title:
Approve Documents to Clear Title to Lands owned by the City of Ramsey in the plat of COR ONE
Background:
Over the past 12 months in preparation for land transactions in The COR with Flaherty and Collins and TOTI Land Development, the DM Team has been working with the City's HRA Real Estate Counsel to research and resolve any title issues that would need to be cleared prior to completing a land transaction.
There are five documents that need to be approved by the City Council. The HRA (items no. 2 and 6 in Bray letter) and Board of Adjustment (item no. 3 in Bray letter) will also need to approve documents related to clearing the title. Those actions will be requested at upcoming meetings of those Boards.
The following documents are presented to the City Council this evening for approval (item no.'s in attached Bray letter):
Release of Option (item no. 1)
Release of Land from Restrictions (item no. 2)
Release of Deferred Assessments (item no. 5)
Quit Claim Deed (item no. 6)
Declaration of Easment (item no. 6)
The attached letter from Mr. Tom Bray, the HRA's Real Estate Counsel, describes in detail the title issue that is being resolved with each document. As Council may recall, item no. 4 (Release of Land from and Amendment to Lease Agreement) in the attached letter was completed earlier this year by action of the City Council, HRA and EDA. Items no. 1 (Release of Option), 2 (Release from Use Restrictions), 5 (Release of Deferred Assessments) will be executed, upon approval, and recorded immediately following tonight's action. Item no. 6 (Quit Claim Deed and Easement Declaration) will be recorded at closing.
There are five documents that need to be approved by the City Council. The HRA (items no. 2 and 6 in Bray letter) and Board of Adjustment (item no. 3 in Bray letter) will also need to approve documents related to clearing the title. Those actions will be requested at upcoming meetings of those Boards.
The following documents are presented to the City Council this evening for approval (item no.'s in attached Bray letter):
Release of Option (item no. 1)
Release of Land from Restrictions (item no. 2)
Release of Deferred Assessments (item no. 5)
Quit Claim Deed (item no. 6)
Declaration of Easment (item no. 6)
The attached letter from Mr. Tom Bray, the HRA's Real Estate Counsel, describes in detail the title issue that is being resolved with each document. As Council may recall, item no. 4 (Release of Land from and Amendment to Lease Agreement) in the attached letter was completed earlier this year by action of the City Council, HRA and EDA. Items no. 1 (Release of Option), 2 (Release from Use Restrictions), 5 (Release of Deferred Assessments) will be executed, upon approval, and recorded immediately following tonight's action. Item no. 6 (Quit Claim Deed and Easement Declaration) will be recorded at closing.
Notification:
None required.
Observations:
Please refer to letter from the HRA's Real Estate Counsel, Mr. Tom Bray. Letter is attached as first attachment.
Recommendation:
Staff recommends that the following documents be approved by the City Council:
Release of Option
Release of Land from Restrictions
Release of Deferred Assessments
Quit Claim Deed
Declaration of Easment
Release of Option
Release of Land from Restrictions
Release of Deferred Assessments
Quit Claim Deed
Declaration of Easment
Funding Source:
HRA legal is funded by the 2011 HRA levy and budget.
Council Action:
Approve the following documents:
Release of Option
Release of Land from Restrictions
Release of Deferred Assessments
Quit Claim Deed
Declaration of Easment
Release of Option
Release of Land from Restrictions
Release of Deferred Assessments
Quit Claim Deed
Declaration of Easment
Attachments
- Letter from Tom Bray re Clear Title Documents
- Release of Option Agreement
- Release of Use Restrictions
- Release of Deferred Assessments
- Quit Claim Deed
- Declaration of Easement
- Deed - Use Restrictions
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Diana Lund | Diana Lund | 05/05/2011 02:18 PM |
| Kurt Ulrich | Jo Thieling | 05/05/2011 02:20 PM |
- Form Started By:
- hnelson
- Started On:
- 05/03/2011 01:48 PM
- Final Approval Date:
- 05/05/2011