HomeMy WebLinkAboutResolution No. 632-06 • AGREEMENT AS TO
COMPLETED OBLIGATIONS OF THE
ROCHESTER TOWNE CLUB DEVELOPMENT AGREEMENT
THIS AGREEMENT is made and entered into this /fief day of 7>�L -
2006, by and between the CITY OF ROCHESTER, a Minnesota municipal corporation,
("City"), and PLATINUM DEVELOPMENT GROUP, INC., a Minnesota corporation
("Platinum")
WHEREAS, on or about August 24, 2005, the parties executed a Development
Agreement concerning Platinum's proposal to construct a new nine hole golf course in the
area of the City's current Eastwood Golf Course. The Agreement calls for the transfer of
the new nine hole golf course to the City in exchange for the existing front nine holes of
the Eastwood Golf Course that would be transferred to Platinum for development
purposes. The new development is generally known as Rochester Towne Club; and,
WHEREAS, since August, 2005, Platinum has engaged in considerable
construction activities needed to implement the DA. In addition, some informal
arrangements have occurred between the parties as to each party's obligations under the
DA; and,
• WHEREAS, the parties believe it would be beneficial for them to express their
agreement as to those provisions of the DA have,been completed to the parties' mutual
satisfaction and the agreed-upon changes to the DA.
NOW, THEREFORE, in consideration of the mutual undertakings and agreements
hereinafter set forth, the City and Platinum agree as follows:
1. Sections 28, 29 and 30 of the DA address Platinum's responsibility to
design and construct the nine new golf. holes, driving range and
maintenance building at the Eastwood Golf Course ("New Nine"). Platinum
has performed its respective obligations under Sections 28, 29 and 30 of
the DA subject to two conditions. The first condition involves Platinum
providing a $20,000 credit to the City for the City's Section 9 payment .
obligation. The City intends to use the $20,000 credit to order and install
the golf course accessories, which was a Platinum obligation under the DA.
The second condition involves Platinum providing a $10,000 credit to the
City for the City's Section 9 payment obligation in light of additional
improvements made by the City to the driving range.
2. Section 31 b of the DA addresses Platinum's obligation to pay the costs for
the construction of the golf course, maintenance facility (not to exceed
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$250,000), ski trail and driving range. Platinum has performed its
obligations under Section 31 b. The parties agree that the City has selected
the option under the City's Section 9 payment obligation to have the City
reconstruct the lighted ski trail resulting in a $40,000 credit to the City.
3. Section 9 of the DA addresses Platinum's responsibility to install one eight-
foot by nine-foot culvert for golf carts under Towne Club Road. The parties
have determined there is a need to revise the culvert location and design.
As such, the parties agree that the City's payment of $31,800 for the
engineering costs for the revised culvert location and increased culvert
length constitutes full and complete payment for such items by the City.
4. Except as otherwise provided by this Agreement, Platinum has completed
its construction obligations and has no further construction, maintenance,
repairs or correction responsibilities for the New Nine golf course including
the maintenance building and driving range.
5. Except as otherwise provided by this Agreement, City has no further
payment obligation to Platinum for the New Nine golf course, maintenance
building or driving range.
6. This Agreement relates solely to Sections 28, 29, 30 and 31 b, and a portion
• of Section 9 of the DA. All other provisions of the DA, including those
provisions in Section 9 not addressed herein, remain in full force and effect.
7. Except as provided in Section 6 herein, it is understood and agreed that the
entire Agreement between the parties is contained herein and that this
Agreement supersedes all oral agreements and negotiations between the
parties relating to the subject matter.
IN WITNESS WHEREOF, the parties hereto have set their hands and seals the
day and year first above written.
CITY OF ROCHESTER PLATINUM DEVELOPMENT
GROUP, INC.
By, By
Its Mayor' Its
Attes �"
Its ity ,erk
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Appr ved to Form
9�� U R
City Attorney
STATE OF MINNESOTA )
ss
COUNTY OF OLMSTED )
The foregoing agreement was acknowledged before me this R - day of
2006, by Ardell F. Brede and Judy Scherr, the Mayor and City Clerk,
respectively, of the City of Rochester, a Minnesota municipal corporation on behalf of the
corporation.
90h �^"^�
Notary Publi BETHANY R. GER13ER
NOTARY PUBLIC-AMNNESOTA
My Comm•Exp•Jan.31,2007
STATE OF MINNESOTA )
ss
COUNTY OF ;zv,nvyv✓ )
On this day of a-e-o��bef, 2006, before me, a notary public within and
for said county personally appeared Nlcr k o,n-,ct n� personally known tome to be the
�?re s"A of the corporation, and who executed the foregoing agreement on
behalf of the professional association and who further acknowledged that he is authorized
to execute this agreement on behalf of the corporation.
NotaryPulilic
This agreement prepared by: LYNEITE A.LUCHT
Rochester Ci}�,Attorne 'S Office NOTARY PU9LIC-MINNE>�iA
`r y My Commission Expires Jan 31,20f0
201 Fourth Street S.E., Room 247
Rochester, MN 55904
K/PlatinumParCompletel
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