L1 B1 Chanhassen Market Street Addition-Park Dedication [WW Cmts 07-12-2024] 1
SPECIAL ASSESSMENT AGREEMENT
AGREEMENT made this _____ day of _______________, 2024, by and between the
CITY OF CHANHASSEN, a Minnesota municipal corporation ("City") and Roers Chanhassen
Bennett Apartments Owner LLC, a Delaware limited liability company (the "Property Owner").
RECITALS
A. Property Owner is the fee owner of certain property in the City of Chanhassen
Carver County, Minnesota, legally described as:
Lot 1, Block 1, Chanhassen Market Street Addition. (the "Subject Property")
Street address and parcel number to be assigned at a later date.
B. Property Owner has requested that the City specially assess park dedication fees of
$702,601.34 against the Subject Property.
NOW, THEREFORE, IN CONSIDERATION OF THEIR MUTUAL COVENANTS
THE PARTIES AGREE AS FOLLOWS:
1. SPECIAL ASSESSMENT. The City hereby assesses the cost of park dedication
fees totaling $702,601.34 against the Subject Property. The assessment shall be spread over two (2)
years, together with six and one half percent (6.50%) interest per year on the unpaid balance.
Interest shall accrue from the date of the approval of this Agreement by the City Council. The first
installment shall be due and payable with taxes in 2025. The Property Owner waives any and all
procedural and substantive objections to the special assessment, including but not limited to hearing
requirements and any claim that the assessment exceeds the benefit to the Subject Property. The
Property Owner waives any appeal rights otherwise available pursuant to Minn. Stat. § 429.081. If
the special assessment is not timely paid or is set aside for any reason, then, instead of paying the
special assessment, the Property Owner shall pay the City on demand an amount equivalent to the
unpaid special assessment together with any legal fees the City may incur.
2. BINDING EFFECT; RECORDING. This Agreement shall be binding upon the
Property Owner and the Property Owner's successors, heirs and assigns. This Agreement may be
recorded against the title to the Subject Property.
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CITY OF CHANHASSEN
BY: _______________________________
Elise Ryan, Mayor
(SEAL)
AND ______________________________
Laurie Hokkanen, City Manager
STATE OF MINNESOTA )
( ss.
COUNTY OF CARVER )
The foregoing instrument was acknowledged before me this _____ day of
_______________, 2024, by Elise Ryan and by Laurie Hokkanen, respectively the Mayor and City
Manager of the City of Chanhassen, a Minnesota corporation, on behalf of the corporation and
pursuant to the authority granted by its City Council.
__________________________________
NOTARY PUBLIC
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PROPERTY OWNER:
Roers Chanhassen Bennett Apartments Owner LLC,
a Delaware limited liability company
By: ___________________________________
Tom Cronin, Authorized Signatory
STATE OF MINNESOTA )
( ss.
COUNTY OF HENNEPIN )
The foregoing instrument was acknowledged before me this _____ day of ______________,
2024, by Tom Cronin, the Authorized Signatory of Roers Chanhassen Bennett Apartments Owner
LLC, a Delaware limited liability company, on behalf of the company, the Property Owner.
__________________________________
NOTARY PUBLIC
DRAFTED BY:
CAMPBELL KNUTSON
Professional Association
317 Eagandale Office Center
1380 Corporate Center Curve
Eagan, Minnesota 55121
Telephone: (612) 452-5000
RNK
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