EDA-1 Applebees Release of Assmt Agmt and Private Redevel Agmt0
CITY OF
CAANHASSEN
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.d.chanhassen.mn.us
MEMORANDUM
TO: Todd Gerhardt, Executive Director
FROM: Laurie Hokkanen, Assistant Executive Director
DATE: February 14, 2011
SUBJ: Release of Assessment Agreement
Termination of Contract for Private Redevelopment
L— t`'
PROPOSED MOTION
The Chanhassen Economic Development Authority approves the attached
Release of Assessment Agreement and Termination of Contract for Private
Redevelopment with Apple American Limited Partnership dated June 3, 1996.
BACKGROUND
The Housing and Redevelopment Authority entered into two agreements with
Apple American Limited Partnerships of Minnesota for the development of
the Applebee's Restaurant.
Through the Contract for Private Redevelopment, the developer agreed to
purchase certain property and make certain minimum improvements. In
exchange, they received up to $10,000 to make soil corrections. This project
was in conjunction with TIF #4. The Assessment Agreement also spoke to the
required minimum improvements of $750,000. The 2011 Assessed Valuation
of the Land/Building is $1,289,700.
RECOMMENDATION
Staff recommends approval of the attached documents.
ATTACHMENTS
1. Release of Assessment Agreement
2. Termination of Contract for Private Development
g: \admin \lh \eda \apple american limited partnership release.doc
Chanhassen is a Community for Life - Providing for Today and Planning for Tomorrow
RELEASE OF ASSESSMENT AGREEMENT
The undersigned, for valuable consideration, receipt whereof is hereby acknowledged,
do hereby forever discharge and release the following described real property located in the
County of Carver, State of Minnesota, to -wit:
Lot Four (4), Block One (1), Crossroads Plaza 3 rd Addition, Carver County, MN
from all obligations, claims and liens under that certain Assessment Agreement dated June 3,
1996, executed by the Housing and Redevelopment Authority in and for the City of Chanhassen,
a body corporate and politic, under the laws of the State of Minnesota (the "Authority ") and
Apple American Limited Partnership of Minnesota, a Minnesota limited partnership (the
"Developer "), and recorded with the Carver County Recorder on June 5, 1996, as Document No.
196186.
The undersigned have executed this Release of Assessment Agreement this day of
January, 2011.
HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF CHANHASSEN
IN
STATE OF MINNESOTA
COUNTY OF CARVER
Its: Chairperson
Its: Executive Director
On this day of January, 2011, before me personally appeared
, the Chairperson, and , the
Executive Director, for the Housing and Redevelopment Authority In and For the City of
Chanhassen, a public body corporate and politic under the laws of the State of Minnesota.
My Commission Expires:
Notary Public
THIS DOCUMENT WAS DRAFTED BY:
Marvin A. Liszt, Esquire
BERNICK AND LIFSON, P.A.
5500 Wayzata Boulevard, Suite 1200
Minneapolis, Minnesota 55416 -1270
Telephone: (763) 546 -1200
TERMINATION OF CONTRACT FOR PRIVATE DEVELOPMENT
THIS TERMINATION OF CONTRACT FOR PRIVATE DEVELOPMENT is
effective as of January , 2011, and is made by the Economic Development
Authority in and for the City of Chanhassen with offices at 7700 Market Boulevard, Box
147, Chanhassen, Minnesota 55317 (hereinafter the "Authority ").
WITNESSETH:
WHEREAS, on June 3, 1996, the Authority and Apple American Limited
Partnership of Minnesota, a Minnesota limited partnership (the "Developer "), entered
into that certain Contract for Private Redevelopment as recorded with the Carver
County Recorder on June 5, 1996, as Document No. 196185 (the "Agreement "), with
regard to the development of the following described real property:
Lot Four (4), Block One (1), Crossroads Plaza 3 rd Addition
Carver County, Minnesota (hereinafter the "Redevelopment Property ");
WHEREAS, the Developer has completed the construction of the Minimum
Improvements required by the Agreement and all covenants, conditions, restrictions,
provisions and terms of the Agreement have been satisfied;
WHEREAS, the Authority desires to terminate the Agreement;
Whereas the Authority is the successor to the Housing and Redevelopment
Authority in and for the City of Chanhassen
NOW, THEREFORE, in consideration of the foregoing, the Authority states as
follows:
1. That the Developer has completed the construction of the Minimum
Improvements as required by the Agreement and Developer is hereby released from
any additional or future obligations under the Agreement.
2. That all terms and conditions of the Agreement have been satisfied and
the Agreement is immediately terminated and of no further force and effect.
IN WITNESS WHEREOF, the undersigned has caused this instrument to be
executed as of the day and year first above written.
ECONOMIC DEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF CHANHASSEN
M
Its: Chairperson
Its: Executive Director
STATE OF MINNESOTA
COUNTY OF CARVER
On this day of January, 2011, before me personally appeared
, the Chairperson, and ,
the Executive Director, for the Economic Development Authority In and For the City of
Chanhassen, a public body corporate and politic under the laws of the State of
Minnesota.
Notary Public
My Commission Expires:
THIS DOCUMENT WAS DRAFTED BY:
Marvin A. Liszt, Esquire
BERNICK AND LIFSON, P.A.
5500 Wayzata Boulevard, Suite 1200
Minneapolis, Minnesota 55416 -1270
Telephone: (763) 546 -1200
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