HomeMy WebLinkAboutCity Council Resolution 2014-367CITY OF PLYMOUTH
RESOLUTION No. 2014-367
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 re -guiding, re -zoning, 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 original closing of the exchange transaction was scheduled to occur on or
before July 31, 2014; and
WHEREAS, the first amendment of the exchange transaction was scheduled to occur on or
before December 31, 2014; and
WHEREAS, the second amendment agreement defines the new closing of the foregoing
exchange agreement to occur on or before December 31, 2015; and
WHEREAS, the second amendment to the Property Exchange Agreement further
extends the closing date to allow time for Pulte Homes to file the plat and complete the land
swa p.
NOW, THEREFORE BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA, that the second 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 9th day of December 2014.