1j. Coeur Terra Release from Contract
CITY OF
CHANHASSEN
7700 Market Boulevard
PO Box 147
Chanhassen, MN 55317
Administration
Phone: 952.227.1100
Fax: 952.227.1110
Building Inspections
Phone: 952.227.1180
Fax: 952.227.1190
Engineering
Phone: 952.227.1160
Fax: 952.227.1170
Finance
Phone: 952.227.1140
Fax: 952.227.1110
Park & Recreation
Phone: 952.227.1120
Fax: 952.227.1110
Recreation Center
2310 Coulter Boulevard
Phone: 952.227.1400
Fax: 952.227.1404
Planning &
Natural Resources
Phone: 952.227.1130
Fax: 952.227.1110
Public Works
1591 Park Road
Phone: 952.227.1300
Fax: 952.227.1310
Senior Center
Phone: 952.227.1125
Fax: 952.227.1110
Web Site
www.ci.chanhassen.mn.us
i.~
~J
TO:
Todd Gerhardt, City Manager
FROM:
Laurie Hokkanen, Assistant City Manager J.;L
DATE:
~~r
May 9, 2007
RE:
. Release of land from contract for private redevelopment between
the City of Chanhassen and Couer Terra LLP.
BACKGROUND
The attorney for Couer Terra LLP (Heartland America) has requested that the City
grant a release of land from their contracts for private redevelopment for their
project. Couer Terra LLP is in the process of refinancing their property and the
lender is requiring the release.
The Gateway TIP District (#6) was decertified in December of 2005. Couer Terra
LLP received their last TIP payment in 2002.
Staff has reviewed the files and finds the project complete and in compliance with
the redevelopment contract. It is therefore recommended that the City Council
approve the attached Release.
RECOMMENDA TION
Staff recommends that the Chanhassen EDA approve the attached "Release of
Land from Contracts for Private Redevelopment and Assessment Agreement".
Approval of this item requires a majority vote of the City Council.
The City otChanhassen · A growing community with clean lakes, quality schools, a charming downtown, thriving businesses, winding trails, and beautiful parks. A great place to live, work, and play.
G:\Admin\LH\TIF\Coeur Terra Staff Report.doc
RELEASE OF LAND
FROM
CONTRACT FOR PRIV ATE REDEVELOPMENT
AND ASSESSMENT AGREEMENT
Date:
,2007.
KNOW ALL BY THESE PRESENTS, that the real property in Carver County,
Minnesota, legally described as follows:
Lot 1, Block 1, Arboretum Business Park,
is hereby released from all obligations, terms and conditions found in the following documents:
(1) That certain Contract for Private Redevelopment by and between the City of Chanhassen,
a Minnesota municipal corporation, and Chaska Gateway Partners Limited Partnership, a
Minnesota limited partnership, dated September 15, 1997 and recorded December 18,
1997 in the Office of the Carver County Recorder as Document No. 219932;
subsequently assigned to Coeur Terra LLP, a Minnesota limited liability partnership, by
that certain Assignment of Contract for Private Redevelopment dated January 12, 1998
and recorded January 29, 1998 in the Office of the Carver County Recorder as Document
No. 221630; and
131411vOl
SRN :04/30/2007
1
(2) That certain Assessment Agreement and Assessor's Certification by and among the City
of Chanhassen, a Minnesota municipal corporation, and Chaska Gateway Partners
Limited Partnership, a Minnesota limited partnership, dated September 16, 1997 and
recorded in the Office of the Carver County Recorder on December 18, 1997 as
Document No. 21883.
CITY OF CHANHASSEN
By:
Thomas A. Furlong, Mayor
By:
Todd Gerhardt, City Manager
STATEOFMINNESOTA )
( ss.
COUNTY OF CARVER )
The foregoing instrument was acknowledged before me this day of May, 2007,
by Thomas A. Furlong and by Todd Gerhardt, respectively the Mayor and City Manage of the
City of Chanhassen, a Minnesota municipal corporation, on behalf of the corporation and
pursuant to the authority granted by its City Council.
Notary Public
THIS INSTRUMENT WAS DRAFTED BY:
CAMPBELL KNUTSON
Professional Association
1380 Corporate Center Curve
Suite 317
Eagan, Minnesota 55121
Telephone: 651-452-5000
SRN/ms
131411vOl
SRN:04/30/2007
2