HomeMy WebLinkAbout10. 13-547
DECEMBER 10, 2013 13-547 RESOLUTION
(CARRIED___7-0___LOST________LAID OVER________WITHDRAWN________)
PURPOSE: APPROVE ASSIGNMENT OF AMENDED DEVELOPMENT
AGREEMENT FOR STONEY BEACH WEST SUBDIVISION TO CR
PROPERTY SOLUTIONS, LLC
INITIATED BY: CITY ADMINISTRATION
BE IT RESOLVED by the Common Council of the City of Oshkosh that the attached
Assignment of the Amended Development Agreement for Stoney Beach West to CR
Property Solutions, LLC is hereby approved and the proper City officials are hereby
authorized to execute and deliver the assignment in substantially the same form as
attached hereto, any changes in the execution copy being deemed approved by their
respective signatures, and said City officials are authorized and directed to take those
steps necessary to implement the terms and conditions of the Agreement.
C{', Y HALL
215 ChHrch Avenge
P.O. Box 1130
Oshkosh, City of Oshkosh
OlHKQlH
TO: Honorable Mayor and Members of the Common Council
FROM: David J. Praska, Assistant City Attorney
DATE: December 5, 2013
RE: Assignment of Stoney Beach West Development Agreement
BACKGROUND
While plans for the Stoney Beach West subdivision began around 1993, the project did
not actively move forward until 2004 when Stoney Beach West, LLC entered into a
developers agreement with the City. The developer's agreement was amended in 2004,
and the installation of infrastructure and utilities serving the development commenced.
Despite the installation of infrastructure and utilities, development activity on the
property has been slow and the City is aware of the developers various attempts to
liquidate the remaining undeveloped lots. Unfortunately, however, both members of
Stoney Beach West, LLC passed away within the past year, leaving the development in
the hands of one of the estates. The estate has now identified a buyer of the
development.
ANALYSIS
The estate controlling Stoney Beach West, LLC has identified a buyer having the
intention and apparent resources to continue, if not complete, the development of this
property. In order for the new owner, CR Property Solutions, LLC, to proceed, the City
will need to approve the assignment of the development agreement from Stoney Beach
West, LLC to CR Property Solutions, LLC.
FISCAL IMPACT
The assignment of the dormant Stoney Beach West subdivision will allow the possibility
of new development which will add to the tax base, as well as allowing the City a better
opportunity to recoup its investment in the development through the special
assessments which were deferred in the original development agreements.
W
RECOMMENDATION
Staff recommends approval of the Assignment.
Respectfully Submitted, Approved;
je
David J. Praska Mark A. Rohloff
Assistant City Attorney City Manager
A SSIGN1 NT ® F
" ENDED DEVELOPMENT
AGREEMEINT
Plc+eamcnr €tiumber
1; PAPTIES:
o. Grantor.
b. Grantee:
Docu men t Title
Stoney Beach West. LLC
cia Scott R. Anderson
N91 W22657 Lishon Road
Swcx, WI 33089
CR Property Solutions, LLC
1013 Tana Court
Menasha. WI 54952
Add Return Addrem
City Attorney's Office
PROPERTY: Stoney Beach West development, pursuant to the
Plot recorded with the Winnebago County Register of Deeds on October28, 2004 as dacument numbar 1333004 nn page
33 -33A. A copy of this Plat is attached as Exbibit A and fully incorporated into this Assignment Agreement. !
3. AGREEMENT ASSIGNED: Amended Developer's Agreement for Financing Improvements
(Developer Agreement) between Stoney Beach West, LLC and the City of Oshkosh fled with the Winnebago
County Register of Deeds on December 9, 2004 as document number 133 8008. A copy of this Developer
Agreement is attached as Exhibit B and is fully incorporated into this Assignment Agreement.
kt. ASSIGNMENT For 51.00 and othcr good and valuable consideration, Grantor assigns to Grantee all of Grantor's
right, title. and interest in the Developer Agreement (Exhibit B). Graw" acquires all of Grantor's benefits and
berderz ofthe Developer Agreement throus-4 this Assignment..
3. ACCEPTAN -DF ASSIGNASlEtaf I : Clratitee accepts the assignment of the Developer Agreement from
Grutitar, and accepts and assumes all duties, covenants, and liabilities, and further agrees to become responsible
for all outstanding liabilities and obligations as well as for all executory obligations.
S, AUTHORITY: Both members of Stoney Beach Vest, LLC, Robert C. Anderson and Kathleen M. Lennon,
are deceased. This Assignment is being carried out by Scott R. Anderson in his capacity as Personal Representative
of the Estate of Robert C. Anderson, Winnebago County Case Plumber 13- PRM140, as well as the Assignment of
Interest and Release of Clnims document submitted from the Estate of 1Crtilileen M. Lennon as anmched as
Exhibit C and fully incorparated into This Assignment Agreement.
7. CONSENT; This Assignment is not complete without the Consent of the City of Oshkosh.
8, EFFECTTVE DATE: December . 2013.
9. RECORDING: The parties agree that this Assignment Agreement will be recorded with the records of the
Winnebago County Register of Deeds.
SIGNATURE PAGES FOLLOW
This nufmmeat 4mlted t�y;
AujimLy Da%ll 1, Fraska
Gibkosh. Wl 34903 -1130
?G. 7013
STONEY BEACH WEST, LLC
By. Estate of " rt Anderson
Bv: }i -66-F fur' C. Uev
Scott R. Anderson. Personal Representative
STATE OF WISCONSIN )
5�.
WAUIU.SHA COUNTY }
Personally came before me this _� tday of &�410e,30 13, the a ve named Scott R. Anderson, tome !Drown to be
such person who executed the foregoing insMmenc and acknowledg the ant , for the purpose herein containad.
pirss
N Lary Public. 1 i County, ' 'iseun in
N1 ' � r, it
GP,4LNTEE:
CP PROPERTY SOLUTIONS,
Caa��» t Mew /M�
CC ,,
STATE OF WISCONSIN
« .
WINNEBAGOCOtJNTY ]
da of . ?013 the above named Chad Rciche a`
Personally came before rrte this `�' �'
Y Y 1S tG t#te kn Eq be
such person who executed tfic fnregaing instrument and i e me, or the Du ose herein CK"' ec1,
Nq b ie. Wi Sebadtt aunEy, Wisconsin
My Commission expires; A ML A
Movember 26, 2013
CONSENT OF MUNICIPALITY.
The City of Oshl fish, as a Party to the original Developer Agreement, consents to this Assignment- The City's consent to
this Assignment is predicated upon CP Property Solutions, LL.0 assuming and accepting all responsibilities and liabilities
associated with the Development Agreement. The City's Consent does not mlease or waive any assessment, covenant, tight.
interest, or benefit which it retains or acquired in or through the Developer Agreement, whether past, present, or future
CITY OF OSHKOSH
By:
Mara A. Rohloff, City Manaeer -
8y.
Pamela R_ Ubrig, City Clerk
STATE OF WISCONSfN )
} ss.
WINNEBAGO COUNTY )
Personally Game before me this __ m . day of , 2613, the above named Mark A. Rohlnff and Pamela R
Ubrig of the City of Oshkosh, to me known to be such persons who executed the Foregoing instrument and acknowledged the
same, for the purpose herein contained.
Notary Public, Winnebago County, Wisconsin
APPROVED AS T[3 FORM;
My Commission expires: _
f yvnn A. Lorcuson. City Attomey
Xovertrber 26, 2013 1