HomeMy WebLinkAbout4.a. Update Rosemount Professional Building f
CITY OF ROSE�iO�TNT
EXECIITIVE SIIb.�lARY FCSR ACTION
PORT AUTHORITY MEETING DATE: DECEMBER 6, 1994
AGENDA ITEbi: UPDATE ON ROSEMOUNT PROFESSIONAL AG]3NDA SECTION:
BUILDING OLD BUSINESS
PREPARLrD BY: RON WASMUND, AGSNDA NO.
COMMUNITY DEVELOPMENT DIRECTOR 4. A.
ATTAC�SENTS: MEMO FROM RON WASMUND APPROV}3D BY: �
RECOI+�:NDED ACTION: Motion aut orizing staff to proceed with the
necessary action to provid cle title to Dr. Hansen.with the
expenditure to be made from #201 6300-01-304 .
`UbJ 11'�..�h.d�( �J�`.r—'
PORT AIITHORITY ACTION:
• � MEMO
TO: Chair Carroll
Commissioners Anderson, Busho, Edwards, McMenomy, Miller, Wippermann
FROM: Ron Wasmund, Communiry Development Director ��
DATE: December 2, 1994
RE: Update on Rosemount Professional Building
The paperwork to attain clear title to the land to be conveyed to Dr. Hansen has continued in earnest.
Daily communication between myself, Dr. Hansen, and Steve Bubul with an occasional call to Reid Hanson
and Dakota County Abstract has resolved all but one question regarding the title. We now have executed
quit claim deeds to the city from the Catholic church, from the ciry to the port authority, as well as a deed
from the port to Dr. Hansen ready for execution. A letter of financial commitment from the Vermillion
State Bank was received on November 30th. The easement agreement is drafted and ready for execution.
Both the quit claim to Dr. Hansen and the easement agreement will be executed and delivered at the
closing. It is tentatively planned to close on December 2, 1994.
There is one issue with the title that will require legal action by the city. The action is referred to as a
"quiet title action." The action is necessary to insure there is no gap in the legal description. When the
title company reviewed the legal description they discovered bearing angles missing from the description
which was written in 1950. They are not sure there is a gap but want to cover themselves. The possibility
exists that there could be a difference in the land covered by the legal description if two different people
plot the points of the descriptions.
For this reason there may be land that falls outside the parcel described. The title insurance company
doesn't want to be responsible for costs to conect the title at some future date so they are denying coverage
to Dr. Hansen. Since he does not want to take a risk for costs to correct the title either, he is asking the
Port Authority to deliver a "good title."
After talking with Steve Bubul, the attorney from Holmes and Graven assigned to this project, he suggests
there are two things we should do to clear the title. I earlier mentioned briefly the "quiet title action."
This is a process of reviewing to determine if the person conveying the property to the ciry is still alive. If
the person is, a simple quit claim deed from that person to the city corrects the problem. If the person is
deceased then the names of heirs with a right to property left behind must be determined. Those names are
then published in a public notice in the legal newspaper for three (3) weeks. After the three weeks of
publication we then appear before an administrative law judge, present any comments or claims made by
the heirs, if any. The judge then rules or extends a decision as to who has a legal right to the property.
It has been difficult to determine exactly what the extent of the gap is or if one actually exists to know what
we've committed to. Steve Bubul is recommending we perform a title examination prior to the quiet title
action. With the examination we can determine the extent of the problem. The cost of this examination is
$500 - $1,000.
Staff is looking for a recommendation authorizing the expenditure of money needed to provide clear title to
Dr. �Iansen.
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