2007-08-07 DA Changes ReviewMichael C. Couri~
Andrew J. MacArthur
Robert T. Ruppe•*
*ALso licensed in Illinois
**Also licensed in Ca! jirnia
August 7, 2007
COURT, MACARTHUR &
RUPPE, P.L.L.P.
Attorneys at Law
705 Central Avenue East
PO Box 369
St. Michael, MN 55376-0369
(763) 497-1930
(763) 497-2599 (FAX)
courimacarthur@earthlink. net
Mr. Stanley J. Weinberger, Jr.
Gray, Plant, Mooty, Mooty & Bennett, P.A.
1010 West St. Germain, Suite 600
St. Cloud, MN 56301
RE: City of Albertville; Field Plaza Second Addition.
Dear Mr. Weinberger:
Kristen H. Carr
Kyle R. Hartnett
As I stated on your voice mail today, I do not find any of the. changes you
proposed to the Field Plaza Second Addition Developer's Agreement to be acceptable.
While those changes. may be typical of a business transaction between two entities each
of which anticipates making a profit from the transaction and bearing a set level of risk
commensurate. to .the .expected level of profit, the City is not profiting. from .this
transaction and does. not have a method of recovering the. expense associated with the
risks your client is asking the City to assume via the proposed changes. This developer's
agreement has already been approved by the City Council after taking. comments from
your client, and is very similar to the developer's agreement for Field Plaza (first
addition) which is already binding upon this property.
If you would like, I could put this on the August 20`" agenda for reconsideration by
the City Council, but I do not believe that the City Council will accept any of the
proposed changes. My recommendation to the City Council would be to reject all of the
proposed changes. Please let me know how you would like to proceed.
In order to proceed to recording the plat, the following items will need to be
provided to the City before the City will release the plat:
1. Afully-executed original of the Developer's Agreement.
2. Afully-executed cross easement agreement.
3. Original mylars/hardshells (these documents should be consistent with recent
changes in State Statute for plats) executed by the Developer, surveyor and Bank
Vista. Please note that utility easements labeled "10 foot utility easement to be
recorded" should. be shown as dedicated easements on the plat itself..
4. Afully-executed subordination of the existing mortgage to the Developer's
Agreement....
5. An .updated abstractor title commitment.
6: A letter of credit in the amount of $14,700.
Mr. Stanley J. Weinberger, Jr.
August 7, 2007
Page 2 of 2
7. Park dedication fees in the amount of $5,740.
8. Administrative fees of $477.75.
9. Payment of all unpaid outstanding City costs incurred to date of plat release
(please check with Tina Lannes, City Finance Director, for this total).
Please contact me with any questions you may have. Thank you.
Sincerely
c
Michael C. Couri
Couri, MacArthur & Ruppe, P.L.L.P.
Cc: Larry Kruse
Tina Lannes
Bridget Miller