HomeMy WebLinkAbout21-078 Partial Release of Development Contract with KRB Development LLC
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 21-078
APPROVING THE PARTIAL RELEASE OF DEVELOPMENT CONTRACT BETWEEN CITY
OF PRIOR LAKE AND KRB DEVELOPMENT, LLC
Motion By: Burkart Second By: Braid
WHEREAS,
The City of Prior Lake, a Minnesota municipal corporation (“City”) and KRB
Development, LLC entered into that certain Development Contract in the City of
Prior Lake, Minnesota, for Eagle Creek Estates, dated July 8, 2013 and recorded in
the office of the Scott County Recorder on July 25, 2013 as Document No.
A941865 (the “Development Contract”); and
WHEREAS, The City approved Resolution No. 13-086 on July 8, 2013 approving the Final Plat
for Eagle Creek Estates; and
WHEREAS,
The City provided a Warranty Acceptance / Project Closeout letter to KRB
Development, LLC on January 23, 2018; and
WHEREAS, Landco Investments of Prior Lake, LLC purchased Outlot D, Eagle Creek Estates,
platted it as Lot 1, Block 1 Suite Living Senior Care of Prior Lake and will be
developing the property; and
WHEREAS,
Landco Investments of Prior Lake, LLC is requesting partial release of the
Development Contract for Lot 1, Block 1 Suite Living Senior Care of Prior Lake to
clarify that the Developer’s obligations on that property have been satisfied; and
WHEREAS, The City has confirmed that all work to be performed under the Development
Contract for Outlot D, Eagle Creek Estates now known as Lot 1, Block 1 Suite
Living Senior Care of Prior Lake is complete.
NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE,
MINNESOTA as follows:
1. The recitals set forth above are incorporated herein as if fully set forth.
2. The partial release of Development Contract is approved subject to the following condition:
a. The Development Contract shall remain in effect for the undeveloped areas of Eagle
Creek Estates.
3. The Mayor and City Manager are hereby authorized to execute the Partial Release of
Development Contract on behalf of the City.
M:\City Clerk\CITY COUNCIL\Resolutions\2021\21-078 Partial Release of Development Contract with KRB Development LLC.docx
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Passed and adopted by the Prior Lake City Council this 7th day of June 2021.
VOTE Briggs Thompson Burkart Braid Erickson
Aye ☒ ☐ ☒ ☒ ☒
Nay ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☒ ☐ ☐ ☐
_____________________________
Jason Wedel, City Manager