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Home My WebLink About4.b. Update on Rosemount Progessional Building CITY OF ROSEMOUNT EX}3CIITIVE SUbmIARY FOR ACTION PORT AUTHORITY MEETING DATE: NOVEMBER 15, 1994 AGENDA ITEM: Rosemount Professional Building AGSNDA SECTION: Update OLD BUSINESS PREPARED BY: Ron Wasmund, AGENDA NO. Community Development Director 4 • B- ATTACI�SENTS: None APPROVED BY: � The last two weeks have been spent tracking title documents needed by Dakota County Abstract Co. in order for them to update abstracts and issue title insurance for Dr. Hansen to start his project. Attorney Steve Bubul has prepared the necessary deeds to accomplish the transfer of title from the various interested parties. The development agreement is in a form acceptable to both parties and in fact has been executed by chairperson Carroll . The parking easement has been drafted by Attorney Bubul and will be executed by all parties at the time of closing. The closing has not been established at the time of this writing pending the ability of the abstract company to issue title insurance to Dr. Hansen and execution of all the deeds. Financing has been obtain by Dr. Hansen apparently from Vermillion State Bank. He is working on obtaining a letter of commitment from the bank. The construction plans have been submitted to the building staff for review and permit issuance. Work continues on that process . We will probably be issuing a grading permit for site preparation prior to full permit issuance. The items left to complete are as follows: 1. Execute the development agreement 2 . Execute a quit claim deed from St. Joseph Church to the City. 3 . Execute a quit claim deed from the City to the Port Authority. 4 . Execute a warranty deed from the Port Authority to Dr. and Mrs . Hansen 5 . Execute an easement agreement between the Port Authority and Hansen 6 . Receive a letter of commitment from Dr. Hansen' s financial provider 7 . Record the deeds and plat 8 . Issue the necessary construction permits We expect to complete all of these steps with the possible exception of the full building permit by November 18, 1994 RECOIrIl�iENDED ACTION: None. Discussion item only. COUNCIL ACTION: