The URL can be used to link to this page

Home My WebLink About8.a. Reassignment of PUD and Subdivision Agreements from CMC Heartland Partners to Centex HomesCITY OF ROSEMOUNT EXECUTIVE SUMMARY FOR ACTION City Council Meeting Date: September 19, 2000 AGENDA ITEM: Reassignment of PUD and Subdivision AGENDA SECTION: Agreements from CMC Heartland Partners to Old Business Centex Homes PREPARED BY: Rick Pearson, City Planner AGEND � . 0 ATTACHMENTS: None APPROVED BY: SUMMARY On Tuesday, staff anticipates having a resolution ready for Council action that will set the stage for the transfer of the Bloomfield development from CMC Heartland Partners to Centex Homes. This is a result of a meeting between officials of both companies and staff which occurred on Thursday afternoon. CMC and Centex hope to close next week. Staff's objective is to: 1. Reassign the agreements to Centex who will assume all of CMC's responsibilities as developer of the Bloomfield development. 2. Acquire appropriate securities from Centex to replace those previously posted (and about to expire) by CMC. 3. Have the Cities' out -of pocket expenses reimbursed so that the law - suit(s) against CMC could be dropped. 4. Determine what is the remaining amount of securities needed for both phases of the development. 5. Because the development will be purchased in two parts, there will have to be a split, similar to the Evermoor phase I and H. This will be checked against the approved preliminary plat. RECOMMENDED ACTION: Motion to adopt a resolution prepared by the City Attorney and staff to reassign the Bloomfield PUD and Subdivision agreements from CMC Heartland Partners to Centex Homes. CITY COUNCIL ACTION: STATE OF 14 1NNESOTA COUNTY OF DAKOTA CITY OF ROSEMOUNT RESOLUTION NO. 2000- RESOLUTION RELATING TO ASSIGNMENT OF SUBDIVISION AGREEMENT AND PUD AGREEMENT TO CENTEX AND SUBDIVISION OF OUTLOT B, BLOOMFIELD ADDITION WHEREAS, CMC Heartland Partners I, Limited Partnership (the "Developer') is the developer of properties platted as Bloomfield Addition in the City of Rosemount, Minnesota; and WHEREAS, in connection with the development of the Bloomfield Addition, Developer and the City of Rosemount (the "City') entered into a Planned Unit Development (PUD) Agreement dated July 15, 1998 (hereinafter the "PUD Agreement") and a Subdivision Agreement dated July 21, 1998 (hereinafter the "Subdivision Agreement"); and WHEREAS, under the Subdivision Agreement, Developer provided to the City a letter of credit dated February 4, 1999 in the amount of $179,000 (hereinafter the "Developer's Letter of Credif) to secure performance by Developer of its obligations under the Subdivision Agreement and the PUD Agreement, which letter of credit expires October 1, 2000; and WHEREAS, Developer is in default of certain of its obligations under the Subdivision Agreement; and WHEREAS, Developer has requested the approval by the City of a proposed assignment of the PUD Agreement and the Subdivision Agreement to Centex Homes, a Nevada General Partnership (hereinafter "Centex), in connection with the sale of a portion of Bloomfield Addition to Centex; and WHEREAS, Developer has petitioned the City for approval of a planned unit development and plat of a second phase of development of the Bloomfield Addition which plat was to have been known as Bloomfield Second Addition. The plat of Bloomfield Second Addition was approved by the City Council but Developer has not signed a subdivision agreement in connection with Bloomfield Second Addition or proceeded with development. During the application process, at the behest of Developer, r RESOLUTION 2000- the City has incurred substantial expenses and obligations in anticipation of the development of the Bloomfield Second Addition, which expenses are hereinafter set forth; and WHEREAS, because of Developer's decision not to execute a subdivision agreement or proceed with platting or development, the City has commenced two actions in Dakota County District Court to allow the City to proceed with construction of public improvements planned for Bloomfield Second Addition and to recover costs incurred by the City, to wit: Rosemount v. CMC Heartland Partners, et al., District Court File No. 19 -C6-00 -9282 and Rosemount v. CMC Heartland Partners,et al ., District Court File No. 19- C1- 00- 008704 (hereinafter the "Civil Actions'); and WHEREAS, the sale of a portion of the Bloomfield Addition to Centex requires the division of a tax parcel platted as Outlot B, Bloomfield Addition along a boundary previously approved by the City in connection with the approval of the subdivision of Bloomfield Second Addition, the legal description of which is hereinafter set forth. Developer has requested the approval by the City of this division of land; and WHEREAS, the City Council has determined that approvals of the assignments and the subdivision of land, subject to the conditions hereinafter set forth, are in the best interest of the City. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Rosemount, Minnesota, as follows: 1. The City approves the assignment of the Subdivision Agreement and the PUD Agreement to Centex and the subdivision of Outlot B, Bloomfield Addition into two parcels. Parcel one includes Phases 1 and 2, and the second parcel is the remaining property, the legal descriptions of which are on Attachment One, attached hereto and hereby made a part of this Resolution. Each and all of said approvals are conditioned on the prior occurrence of all of the following conditions: a. receipt from Centex of a substitute letter of credit, securing compliance by Centex with terms of the Subdivision Agreement and the PUD Agreement, in the amount of One hundred Seventy Nine Thousand Dollars ($179,000.00). b. recording of the Subdivision Agreement and the PUD Agreement prior to the sale of any properties in Bloomfield Addition to Centex. C. receipt by the City of reimbursement for the following costs and expenses: I. L. RESOLUTION 2000 i) capitalized interest for bonds issued and issuance costs to finance Phase H Improvements (Bloomfield Second Addition) $148,482.38. ii) engineering expenses and testing services incurred in connection with Phase 11 Improvements $114,231.21. iii) legal fees incurred in connection with development of Bloomfield Addition. iv) special assessments previously levied for trunk sewer improvements, and maintenance charges for street cleaning and weed control in 'the amount of $1,954,987.80. d. receipt of an instrument, duly executed by an authorized representative of Ryan Contracting Co., in a form satisfactory to the City Attorney, releasing the City from all obligations arising from the contract, award of the contract, or solicitation of bids for Phase Il improvements in the event the City does not proceed with construction of said improvements in accordance with the specifications therefor. In the event the City proceeds with construction of said improvements, the City will proceed under the agreement with Ryan provided Ryan continues to be willing to honor its bid. e. receipt of a duly executed deed for Outlot D, Bloomfield Addition in a form acceptable to the City Attorney. 2. The Mayor, Clerk and Administrator are authorized and directed to draw the full amount of the Letter of Credit provided by Developer to secure performance of the PUD Agreement and the Subdivision Agreement, issued February 4, 1999 by Bank One, Illinois as Standby Letter of Credit No. ST112891 unless a substitute letter of credit is received from Centex in accordance with paragraph 1 a above by September 22, 2000. 3. Upon satisfaction of all conditions set forth in paragraph 1 above, the City Attorney is authorized and directed to dismiss the Civil Actions without costs, disbursements or attorneys fees (other than attorneys fees included under paragraph Ic above) to either party. 4. The approvals given in paragraph 1 shall expire and be of no further force or effect unless all conditions stated in paragraph 1 have occurred and are satisfied by 4.30 o'clock p.m., local time, October 31, 2000. Upon satisfaction of all conditions stated in paragraph 1, the City Attorney is directed to provide certification of such satisfaction upon the request of Developer or Centex. 3 RESOLUTION 2000- r Adopted by the City Council of the City of Rosemount, Minnesota, the day of 7 2000. Cathy Busho, Mayor ATTEST: Linda Jentink, City Clerk Motion by: Voted in favor: Voted against: Member absent: ■ Seconded by: h ATTACHMENT ONE First Phase Lot l thru 3, 5, 7 thru 16 and 18, Block 1; and Lots 1 thru 9, Block 2; and Lots 1 thru 11, Block 3; and Lots 1 thru 7 and 12 thru 37, Block 4; and Lots 2 and 8 thru 85, Block 5; All in BLOOMFIELD, Dakota County, Minnesota, according to the recorded plat thereof Second Phase Outlot A, BLOOMFIELD, Dakota County, Minnesota, according to the recorded plat thereof. And Those parts of Outlots B and C, BLOOMFIELD, Dakota County, Minnesota, according to the recorded plat thereof described as commencing at the Southeast comer of said Outlot B; thence South 89 degrees, 31 minutes 28 seconds West, assumed bearing along the South line of said Outlot B, 1120.49 feet to the point of beginning of the parcel to be described; thence continuing South 89 degrees 31 minutes 28 seconds West along said South line of Outlot B, 1632.36 feet, thence southwesterly 260.04 feet along the South line of said Outlot B and along a tangential curve concave to the Southeast, having a radius of 1348.24 feet and a central angle of 11 degrees 03 minutes 03 seconds; thence South 89 degrees 31 minutes 28 seconds West, along said South line of said Outlot B, not tangent to last described curve, 632.81 feet; thence North 29 degrees 17 minutes 43 seconds East, along the westerly line of said Outlots B & C, 1419.29 feet; thence southeasterly 19.01 feet along the North line of said Outlot C and along a non- tangential curve concave to the southwest having a radius of 790.00 feet; a central angle of 01 degrees 22 minutes 44 seconds and a chord which bears South 78 degrees 00 minutes 12 seconds East; thence South 77 degrees 18 minutes 50 seconds East, along tangent 564.80 feet; thence South 12 degrees 41 minutes 10 seconds West 156.55 feet; thence South 04 degrees 36 minutes 19 seconds East 48.43 feet; thence South 70 degrees 34 minutes 48 seconds East 71.88 feet; thence South 74 degrees 02 minutes 24 seconds East A -I I 148.46 feet; thence South 80 degrees 05 minutes 46 seconds East 170.61 feet; thence North 80 degrees 26 minutes 07 seconds East 229.23 feet; thence South 23 degrees 45 minutes 28 seconds East 95.19 feet; thence South 35 degrees 29 minutes 46 seconds East 184.30 feet; thence North 41 degrees 54 minutes 08 seconds East 208.85 feet; thence Southeasterly 19.85 feet along a non- tangential curve concave to the Northeast, having a radius of 320.00 feet; a central angle of 03 degrees 33 minutes 16 seconds and a chord which bears South 49 degrees 52 minutes 30 seconds East; thence South 51 degrees 39 minutes 08 seconds East, along tangent, 275.83 feet; thence southeasterly 114.33 feet along a tangential curve concave to the northeast, having a radius of 320.00 feet and a central angle of 20 degrees 27 minutes 46 seconds; thence South 72 degrees 06 minutes 54 seconds East, along tangent, 135.11 feet thence Southwesterly 366.48 feet along a non - tangential curve, concave to the Southeast, having a radius of 1050.00 feet, a central angle of 19 degrees 59 feet 52 seconds and a chord which bears South 09 degrees 31 minutes 24 seconds West; thence South 00 degrees 28 minutes 32 seconds East, along tangent, 86.65 feet to the point of beginning. Remaining Property Outlots B and C, BLOOWIELD, Dakota County, Minnesota, according to the recorded plat thereof EXCEPT those parts described as commencing at the Southeast corner of said Outlot B; thence South 89 degrees, 31 minutes 28 seconds West, assumed bearing along-the South line of said Outlot B, 1120.49 feet to the point of beginning of the parcel to be described; thence continuing South 89 degrees 31 minutes 28 seconds West along said South line of Outlot B, 1632.36 feet, thence southwesterly 260.04 feet along the South line of said Outlot B and along a tan gential curve concave to the Southeast, having a radius of 1348.24 feet and a central angle of 11 degrees 03 minutes 03 seconds; thence South 89 degrees 31 minutes 28 seconds West, along said South line of said Outlot B, not tangent to last described curve, 632.81 feet; thence North 29 degrees 17 minutes 43 seconds East, along the westerly line of said Outlots B & C, 1419.29 feet; thence southeasterly 19.01 feet along the North line of said Outlot C and along a non- tangential curve concave to the southwest having a radius of 790.00 feet; a central angle of 01 degrees 22 minutes 44 seconds and a chord which bears South 78 degrees 00 minutes 12 seconds East; thence South 77 degrees 18 minutes 50 seconds East, along tangent 564.80 feet; thence South 12 degrees 41 minutes 10 seconds West 156.55 feet; thence South 04 degrees 36 minutes 19 seconds East 48.43 feet; thence South 70 degrees 34 minutes 48 seconds East 71.88 feet; thence South 74 degrees 02 minutes 24 seconds East 148.46 feet; thence South 80 degrees 05 minutes 46 seconds East 170.61 feet; thence North 80 A Pq a r degrees 26 minutes 07 seconds East 229.23 feet; thence South 23 degrees 45 minutes 28 seconds East 95.19 feet; thence South 35 degrees 29 minutes 46 seconds East 184.30 feet; thence North 41 degrees 54 minutes 08 seconds East 208.85 feet; thence Southeasterly 19.85 feet along a non- tangential curve concave to the Northeast, having a radius of 320.00 feet; a central angle of 03 degrees 33 minutes 16 seconds and a chord which bears South 49 degrees 52 minutes 30 seconds East; thence South 51 degrees 39 minutes 08 seconds East, along tangent, 275.83 feet; thence southeasterly 114.33 feet along a tangential curve concave to the northeast, having a radius of 320.00 feet and a central angle of 20 degrees 27 minutes 46 seconds; thence South 72 degrees 06 minutes 54 seconds East, along tangent, 135.11 feet; thence Southwesterly 366.48 feet along a non - tangential curve, concave to the Southeast, having a radius of 1050.00 feet, a central angle of 19 degrees 59 feet 52 seconds and a chord which bears South 09 degrees 31 minutes 24 seconds West; thence South 00 degrees 28 minutes 32 seconds East, along tangent, 86.65 feet to the point of beginning. -� Py3 i L , ,� �! �. i { �, G` . ,, � .- � 1 � k � �e za.+- i YaS�� •�` t om, #'s �-�� ,�'- s � S fi 1� a 4-f , - 4- �S ti.�. st ^'`+��, � 11 .zkl.�`r4 r- M '�� s ' 'l.. C ��` 'iw jtq " "*��'h as- .,,•q�� +'�y U,�, `' . sKb `��w,,.-tin �. � , l =' '` �" p � ... x d' � -t. r'4'` ,a.'S•' - i S�'. "`S M�f��, �" +... � �"""��1�� S,r.�r. i,� .a � * v . -� , pe i k.