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Last modified
2/21/2024 12:15:36 PM
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Planning Files - Planning File #
1787
Planning Files - Type
Planning-Other
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AGREEMENT WITH REGARD TO LEXART ADDITION <br />THIS AGREEMENT is made and entered into by and between the <br />City of Roseville (hereafter the "City") and Gerald H. Kaufhold, <br />or his assigns, (hereafter "Kaufhold") to be effective the <br />day of , 1988. <br />WHEREAS, by this Agreement Kaufhold and the City desire to <br />provide for transfer of certain property from Kaufhold to the <br />City, for the rezoning of certain of the Lexington School <br />property owned by Kaufhold and to provide for a preliminary <br />understanding with regard to tax increment financing for the <br />Lexington School Development. <br />NOW, THEREFORE, IT IS HEREBY AGREED BY AND BETWEEN THE <br />PARTIES AS FOLLOWS: <br />1. Dedication of Land. Kaufhold will dedicate one (1) acre <br />of land located on the Lexington School site to the City of <br />Roseville by warranty deed, which acre is described on the <br />preliminary plat dated July 28, 1988, for Lexart Addition <br />Subdivision to the City of Roseville. The warranty deed is <br />subject to the terms and provisions of that certain Lease <br />Agreement dated May 20, 1988, by and between Independent School <br />District No. 916 and Independent School District No. 623, <br />(including specifically the use for parking of the westerly <br />approximate 40' x 313' strip of land by Northeast Metropolitan <br />Intermediate School District No. 916) and easements, <br />reservations, and restrictions of record, if any. Said dedication <br />shall be in lieu of and in satisfaction of the park dedication <br />requirements of Roseville Ordinance Section 20.155. The transfer <br />of the property from Kaufhold to the City will occur at or about <br />the time of the closing on the sale of the Lexington School site <br />to Kaufhold by Independent School District No. 623. <br />The one(1) acre to be conveyed to the City shall not be <br />subject to any lease between the above named school districts <br />after July 31, 1990. Kaufhold shall provide the City with copies <br />of said leases now in existencQ and inform the above named school <br />districts of the July 31, 1990 expiration date. <br />2. Purchase of Land. In addition to the dedication of one <br />acre of land on the Lexington School site, Kaufhold further agees <br />to sell an additional one acre of land to the City of Roseville <br />from the Lexington School site, which additional acre is <br />identified on the preliminary plat of the Lexart Addition <br />Subdivision dated July 28, 1988. The City agrees that it will <br />pay Kaufhold the sum of One Hundred Eighteen Thousand and <br />No/100ths ($118,000.00) Dollars for said one (1) acre of land. <br />It is the parties' intent that said purchase, if it is m€►de, will <br />be accomplished at the time of the closing of the sale of the <br />Lexington School site from Independent School District No. 623 to <br />
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