HomeMy WebLinkAboutCity Council Resolution 2014-242CITY OF PLYMOUTH
RESOLUTION No. 2014-242
A RESOLUTION APPROVING AN AMENDMENT TO THE PROPERTY EXCHANGE AGREEMENT
BETWEEN THE CITY OF PLYMOUTH AND PULTE HOMES OF MINNESOTA, LLC
WHEREAS, the City and Pulte Homes of Minnesota, LLC have entered into a Property Exchange Agreement as
part of Pulte Homes "Enclave on the Greenway' development located northeast of 56th Avenue and Troy Lane; and
WHEREAS, the original agreement was approved by the City Council at the June 10, 2014 City Council
meeting in conjunction with the reguiding, rezoning, and preliminary plat; and
WHEREAS, the agreement provides for the exchange of the remnant 3 acre Northwest Greenway (NWG)
parcel for the 4.8 acre Pulte Homes parcel identified as "Outlot A"; and
WHEREAS, the park dedication cash payment from Pulte Homes of Minnesota, LLC for the first phase of the
development will be pro -rated to 56.99% of the $6,500 per unit fee to account for the difference in acreage; and
WHEREAS, the closing of the exchange transaction was originally scheduled to occur on or before July 31,
2014; and
WHEREAS, a first amendment to the Property Exchange Agreement is necessary to extend the closing
date in order to allow for the additional time necessary to complete the platting process of the Pulte Property;
and
WHEREAS, the agreement defines the new closing of the foregoing exchange agreement to occur on or before
December 31, 2014.
NOW, THEREFORE BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH, MINNESOTA, that
the first amendment to the Property Exchange Agreement between the City of Plymouth and Pulte Homes of
Minnesota, LLC for "Enclave on the Greenway' development located northeast of 56th Avenue and Troy Lane is
hereby approved.
APPROVED this 22nd day of July 2014.