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Home My WebLink About4.D.2. Amendment to OPUS MVW Developer's Agreement � F✓ ' r � �i ,�. . CITY OF SHAKOPE� ; Memorandum � >��,��^+�� ' z �" � t �.�} � �� h,� . ,� " ' ' �, TO: Mayor and City Council `'� ��+ �� Mark McNeill, City Administrator i FROM: Julie Klima, Planner II � RE: OPUS MVW Developer's Agreement DATE: January 17, 2012 � DISCUSSION , The Preliminary and Final Plat of OPUS MVW was approved by the Shakopee City Council in November 1999. As is standard procedure, following the approval of the plat, the City and the I developer entered into a Developer's Agreement. I � � The portion of the Developer's Agreement proposed for discussion is that section that addresses I ' the Payments to the Park Fund in Lieu of Land Dedication. The Developer's Agreement set , forth that the developer acknowledged that there is park dedication payment due and payable to , the City and that said payments would be deferred until the issuance of building permits for the � I �' lots within the subdivision. The amount due was agreed to be based upon the fee resolution in I � effect at the time the building permits were issued. I � Additionally, the Developer's Agreement included the following customary language: ; "The Developer agrees that under no circumstances will the amounts set forth above be paid any �, � latei� than ten (10) years from the date of this agYeement, at which time the enti�e unpaid amount 'I I shall be due and payable immediately." (Subparagraph (B) of Paragraph IX) � ' The plat of OPUS MVW is comprised of land that is zoned for industrial development. Payment ! of park dedication fees for industrial land is computed on a per acre basis. The City has I collected park dedication fees for those lots upon which building permits have been issued. A , 'j vacant parcel of approximately 42 acres remains for which park dedication fees have not yet ! i been collected. I Because the 10 year timeline for payment has passed and payment on a portion of the I I development remains outstanding, the develo er is re uestin that the Develo er's A eement be I P q g P � amended to remove the following lanb age from the Developer's Agreement in anticipation of potential development interest. � � � `The Developer agrees that unde�� no ciYCUmstances will the amounts set forth above be paid � ' I anv latef� than ten (10) yeaYS from the date of this agreement, at which time the entir�e unpaid ', amount shall be due and payable immediately." �I The underlying intent of collection of park dedication fees upon building permit issuance would ' still apply through the provisions of the Developer's Agreement. Please see the attached amendment to the Developer's Agreement for specific language. I � I I I ALTERNATIVES � l. Approve the developer's request to amend the Developer's Agreement. 2. Do not approve the developer's request to amend the Developer's Agreement. ACTION REQUESTED Offer a motion directing the appropriate City officials to execute the First Amendment to Developer's Agreement for OPUS MVW. i , , +; �, � t i � �� _ � ��=: , ' Juli� Klima �-- - " � '� Planner II �� i I I � I i i 'I I � � I i i I � ; i � ' I I , � j � I I i I � — -- -- � � I I i i � FIRST AMENDMENT TO DEVELOPER'S AGREEMENT I This First Amendment to Developer's Agreement (this "Amendment') is made as of , 20_, by and between OPUS NORTHWEST, L.L.C., a Delaware limited liability company ("Developer"), and the CITY OF SHAKOPEE, a municipal corporation organized under the laws of the State of Minnesota ("City"). � RECITALS i I � Developer and City are parties to that certain Developer's Agreement dated December 15, 1999, � which was recorded as Doc. No. A 467�41 with the recorder's office of Scott County, Minnesota (the ' "Agreement") regarding the real property more specifically described on Exhibit A attached hereto (the � "Land"). I I Developer and City desire to amend the Agreement as set forth herein. � I AGREEMENT I I 1. Payments to the Park Fund in Lieu of Land Dedication. �� Developer and City agree that the initial paragraph of Paragraph IX of the Agreement shall be � � deleted in its entirety and replaced with the following: "The Developer and the City hereby acknowledge that there is park dedication due to the City by � the Developer, which dedication amount accrued at the time of final approval of the Subdivision, ' i and which amount shall be payable at the time of issuance of building permits for the lots in said � , Subdivision. The City agrees to accept payment of said park dedication at the time of the ' � issuance of building permits based upon the fee resolution in effect at the time the building I permits are issued." � Subparagraph (B) of Paragraph IX shall be deleted in its entirety and shall be of no further force I , or effect. � i � � 2. Miscellaneous. Except as expressly set forth herein, the Agreement remains unmodified �I � and in full force and effect. The parties hereby ratify and confirm the Agreement, subject to the � modifications contained in this Amendment. All capitalized terms used but not defined herein have the � meanings given to them in the Agreement. This Amendment may be executed in any number of ' � � fb.us.7786864.01 i � i �_ , counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. � [Signature Page FollowsJ � � � � � � � I � I I I � I I I I ! I � I � I I I I I I i I 2 I i � SIGNATURE PAGE TO FIRST AMENDMENT TO DEVELOPER AGREEMENT � IN WITNESS WHEREOF, the City and Developer have caused this Amendment to be duly executed on the day and year first above written. DEVELOPER: OPUS NORTIIWEST, L.L.C., a Delaware limited � liability company i i B I Name: j Its: I Date: , 2011 , STATE OF MINNESOTA) I ) ss COUNTY OF ) I The foregoing instrument was acknowledged befare me this day of , 201_ by I , the of Opus Northwest, L.L.C., a Delaware limited liability �� I company, on behalf of said company. � I � I � Notary Public i I My commission expires: i I � � i i � I � I I I i i i I i i I i � I � I �� I I I � I i � CITY: I �' CITY OF SHAKOPEE �i I By: � Mayor I B City Administrator l i By. j City Clerk ' I � � STATE OF MINNESOTA) ) SS , � COUNTY OF SCOTT ) I ' � The foregoing instrument was acknowledged before me this _ day of , 201_ by �� I , Mayor, , City Administrator, and City Clerk of the City of Shakopee, Minnesota, on behalf of said City. j � I I i � Notary Public i i i � My Commission Expires: i I � i � ��,' This instrument was drafted b: , Y Fae�re & Benson LLP I Attn: Charles Ferrell � 2200 Wells Fargo Center 90 S. 7 5treet '� Minneapolis, MN 55402 � I 4 i I I I ___ _ __ ___ _ _______ __ _ _ _ _ _ _ _ _ __ _ __ I j i I � EXHIBIT A 1 OPUS MVW, according to the recorded plat thereof, County of Scott, State of Minnesota . 1 � � il I . � i � i i � � �� I � , i � � I , � . 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