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HomeMy WebLinkAboutCity Council Resolution 2001-083CITY OF PLYMOUTH RESOLUTION 2001-083 AUTHORIZING REMOVAL OF A DECLARATION OF RESTRICTIVE COVENANTS ON A PROPERTY IN THE VILLAGE AT BASSETT CREEK DEVELOPMENT WHEREAS, Declarations of Restrictive Covenants were filed upon the titles to certain properties in the Village At Bassett Creek development in order to provide for long term affordability of these properties in accordance with the terms of the Contract for Private Development dated June 8, 1998, between the City and The Rottlund Company, Inc.; and WHEREAS, under the terms of one of these Declarations of Restrictive Covenants, the Housing and Redevelopment Authority In and For the City of Plymouth, Minnesota (herein after referred to as the "HRA") acquired the property designated as Lot 41, Block 2, Village At Bassett Creek (herein after referred to as the "Property"); and WHEREAS, the HRA is preparing to sell the Property to a qualifying low- to moderate -income family and the HRA wishes to enhance the long-term affordability of the Property by placing a revised Declaration of Restrictive Covenants upon the title to the property; and WHEREAS, under the terms of the Declaration of Restrictive Covenants the City has the authority to release the existing Declaration from the title to the Property and the HRA has requested that the City do so in order to facilitate the filing of the revised Declaration by the HRA. NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH, MINNESOTA, that upon the direction of the Housing and Redevelopment Authority In and For the City of Plymouth, Minnesota, the Mayor and the City Manager are hereby authorized to execute for recording with Hennepin County a standard Release of Declarations form prepared by the City Attorney releasing the property designated as Lot 41, Block 2, Village At Bassett Creek from the Declaration of Restrictive Covenants dated January 6, 2000, and filed at Hennepin County on March 3, 2000 as Document No. 3268532. Adopted by the Plymouth City Council on February 27, 2001.