Adopt Resolution #26-232 Declaring Development Agreements Satisfied and Authorized Release from Property.

Two overlapping plats along the north side of Highway 10, Deal Industrial Park and Deal Commercial Center, were developed in the 1990s and had associated development agreements.  The properties are addressed between 6701 and 6825 Highway 10 NW.  One of these properties is in the RALF program and is in the process of selling to 6781 Properties LLC.  It was noted that the two development agreements were on the title and the buyer would like them removed.  Typically, development agreements stay on a property's title, unless the property owner requests it removed.  The City Council would pass a resolution stating that all the development-associated items in the development agreement have been satisfied to formally close-out the agreement.  That resolution is then recorded with the Anoka County Recorder's/Registrar of Titles office.  With these two agreements, those items have long since been fulfilled and staff is comfortable releasing them both.  

None required.

Staff recommends releasing the two development agreements.  

Motion to Adopt Resolution #26-232 Declaring Development Agreements Satisfied and Authorized Release from Property.