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10-09-23-R
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10-09-23-R
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CONSENT ITEM — 8G <br />-t1 DEN HILLS <br />MEMORANDUM <br />DATE: October 9, 2023 <br />TO: Honorable Mayor and City Councilmembers <br />Dave Perrault, City Administrator <br />FROM: Jessica Jagoe, Community Development Director <br />SUBJECT: Planning Case #20-010 — Scannell Properties #486, LLC —Estoppel Certificate <br />Budgeted Amount: Actual Amount: Funding Source: <br />N/A N/A N/A <br />Council Should Consider <br />Motions to approve, table, or deny the following: <br />• Estoppel Certificate for Scannell Properties #486, LLC at 4200 Round Lake Road on the <br />Stormwater Facilities Operation and Maintenance Agreement. <br />Background <br />On October 12, 2020, the City Council approved a Final Planned Unit Development for Scannell <br />Properties #486, LLC at 4200 Round Lake Road also referred to as the Gateway Interstate <br />Development. The project was approved with 35 conditions. One of those conditions required <br />the Developer to execute the City's standard Stormwater and Maintenance Agreement prior to <br />approval of the Development Agreement. That Agreement was fully executed on February 8, 2021 <br />and recorded April 28, 2021 as Document No. A04880172, and as Amended and Restated dated <br />March 14, 2022 as recorded March 22, 2022 as Document No. A04939239. <br />Scannell Properties #486, LLC, has a pending acquisition of the Subject Property. As part of the <br />real estate transaction, the Developer has asked the City to sign an Estoppel Certificate verifying <br />the current status of the Stormwater Facilities Operation and Maintenance Agreement. This <br />certificate confirms that all obligations under the Agreement have been satisfied and there are no <br />violations, and no unpaid assessments are currently levied against the Subject Property in <br />connection with this Agreement. It should be noted that this does not release or terminate the <br />Developer or Future Buyer from the terms as stated in the Agreement. The Estoppel Certificate <br />as presented by Scannell Properties #486, LLC has been reviewed and approved for issuance by <br />the City Attorney and Public Works Director (Attachment A). <br />Page 1 of 2 <br />
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