ITEM 3.7 Boulder Creek SubdivisionOtCI�egoF
MINNESOTA V
DEPARTMENT INFORMATION
Request for
City Council Action
oRGINATING DEPARTMENT:
REQUESTOR:
MEETING DATE:
Legal
Andy MacArthur, City Attorney
March 27, 2017
PRESENTER(s):
REVIEWED BY:
ITEM #:
Consent Agenda
City Administrator Flaherty
3.7
AGENDA ITEM DETAILS
RECOMMENDATION:
Staff recommends that the City Council approve the attached Estoppel Letter for Boulder Creek
subdivision.
ARE YOU SEEKING APPROVAL OF A CONTRACT?
IS A PUBLIC HEARING REQUIRED?
Yes.
No.
BACKGROUND/JUSTIFICATION:
Mattamy has requested that the City execute the attached Estoppel Letter for all of the lots within the
Boulder Creek subdivisions which are being acquired by M/I Homes of Minneapolis and CalAtlantic
Group, Inc. The Estoppel Letter indicates that Mattamy is currently in compliance with existing
Agreements and has submitted all required security and escrows and has paid all required fees.
Mattamy is presently in compliance with the Developers Agreements and has submitted all required
security and escrows. The City has previously executed such Estoppel Letters in order to facilitate the
Developer and Lenders or Purchasers.
SUPPORTING DOCUMENTS: x ATTACHED ❑ NONE
• Estoppel Letter.
MOTION: (Please word motion as you would like it to appear in the minutes.
Motion to approve Estoppel Letter.
BUDGET INFORMATION
FUNDING: BUDGETED: ❑ YES
NA o NO
[To Be Placed on City Letterhead]
March 27, 2017
Mattamy Minneapolis, LLC
1900 Summit Tower Boulevard, Suite 500
Orlando, FL 32810
Attn: Leslie, C. Candes, Vice President
Email: leslie.candes@mattamycoi-p.com
M/I Homes of Minneapolis/St. Paul, LLC
941 NE Hillwind Road, Suite 300
Fridley, MN 55432
Attn: John Rask
Email: jrask@mihomes.com
CalAtlantic Group, Inc.
7599 Anagram Drive
Eden Prairie, Minnesota 55344
Attention: Michael W. DeVoe, Operational Vice President
Email: mike.devoe@calatl.com
RE: Developer's Agreement dated September 22, 2014 (the "Developer's Agreement") entered into by
and between the City of Otsego, Minnesota (the "City") and Mattamy Minnesota LLC, or its predecessor
Mattamy (Minneapolis) Partnership, as the case may be (the "Developer"), in connection with Boulder
Creek Subdivision (the "Subdivision").
The undersigned, on behalf of the City of Otsego, Minnesota (the "City"), hereby certifies to each of the parties
addressed above as follows:
The Developer's Agreement identified above is unmodified as of the date of this letter (the
"Certification Date"), except as follows:
2. As of the Certification Date, the Developer's Agreement is in full force and effect.
As of the Certification Date, to the best knowledge of the undersigned, neither the City nor the
Developer is in default in the performance of any obligation of such party arising under the
Developer's Agreement. In addition, to the knowledge of the City, no event has occurred which, with
the passage of time or giving of notice or both, would constitute a default by Developer under the
Developer's Agreement. As of the Certification Date, Developer has provided all deposits, bonds,
sureties and other matters required under the Developer's Agreement.
The undersigned makes this certificate with the understanding that either M/I Homes of
Minneapolis/St. Paul, LLC ("NM Homes") or CalAtlantic Group, Inc. ("CalAtlantic"), will be
purchasing from Developer substantially all of the residential lots currently located and to -be -created
within the Subdivision. If and as said lot purchases are consummated, M/I Homes and/or CalAtlantic,
as the case may be, will be closing its or their purchase(s) based upon material reliance on this
certification. The undersigned further certifies that he/she has the authority to make this certification
on behalf of the City.
Should you have any questions regarding any of the foregoing, please do not hesitate to contact the
undersigned at (_ )
CITY OF , NENNESOTA:
Lm
Printed Name:
Title:
132758700
[To Be Placed on City Letterhead]
March 27, 2017
Mattamy Minneapolis, LLC
1900 Summit Tower Boulevard, Suite 500
Orlando, FL 32810
Attn: Leslie, C. Candes, Vice President
Email: leslie.candes@mattamycorp.com
M/I Homes of Minneapolis/St. Paul, LLC
941 NE Hillwind Road, Suite 300
Fridley, MN 55432
Attn: John Rask
Email: jrask@mihomes.com
CalAtlantic Group, Inc.
7599 Anagram Drive
Eden Prairie, Minnesota 55344
Attention: Michael W. DeVoe, Operational Vice President
Email: mike.devoe@calatl.com
RE: Developer's Agreement dated August 16, 2016 (the "Developer's Agreement") entered into by and
between the City of Otsego, Minnesota (the "City") and Mattamy Minnesota LLC, or its predecessor
Mattamy (Minneapolis) Partnership, as the case may be (the "Developer"), in connection with Boulder
Creek 2°d Addition Subdivision (the "Subdivision").
The undersigned, on behalf of the City of Otsego, Minnesota (the "City"), hereby certifies to each of the parties
addressed above as follows:
The Developer's Agreement identified above is unmodified as of the date of this letter (the
"Certification Date"), except as follows:
2. As of the Certification Date, the Developer's Agreement is in full force and effect.
3. As of the Certification Date, to the best knowledge of the undersigned, neither the City nor the
Developer is in default in the performance of any obligation of such party arising under the
Developer's Agreement. In addition, to the knowledge of the City, no event has occurred which, with
the passage of time or giving of notice or both, would constitute a default by Developer under the
Developer's Agreement. As of the Certification Date, Developer has provided all deposits, bonds,
sureties and other matters required under the Developer's Agreement.
4. The undersigned makes this certificate with the understanding that either M/I Homes of
Minneapolis/St. Paul, LLC ("NM Homes") or CalAtlantic Group, Inc. ("CalAtlantic"), will be
purchasing from Developer substantially all of the residential lots currently located and to -be -created
within the Subdivision. If and as said lot purchases are consummated, M/I Homes and/or CalAtlantic,
as the case may be, will be closing its or their purchase(s) based upon material reliance on this
certification. The undersigned further certifies that he/she has the authority to make this certification
on behalf of the City.
Should you have any questions regarding any of the foregoing, please do not hesitate to contact the
undersigned at (_ )
CITY OF , MINNESOTA:
0
Printed Name:
Title:
132758700