HomeMy WebLinkAbout23 - Annexation & Lot Mergers - CANYON GATE INVESTORS, LLC - CANYON GATE ANNEXATION 2805058
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Inter-office Original to:
City orBozcman
City Clerk
PO Box 1230
Bozeman MT 549771-1230
AMENDMENT TO CANYON GATE
ANNEXATION AGREEMENT
THIS AMENDMENT TO ANNEXATION AGREEMENT is made and entered into
this 18' day of L�P r; l 2023, by and between the CITY OF BOZEMAN, a
self-governing municipal corporation organized and existing under its Charter and the laws of the
State of Montana with offices at 121 N. Rouse Avenue, Bozeman, Montana 59771-0640,
hereinafter referred to as "City", and CANYON GATE INVESTORS, LLC, of I I I W. Lamme
Street, Suite 101, Bozeman MT 59715, hereinafter referred to as "Landowner."
WITNESSETH:
WHEREAS,following approval by the City Commission, the City and Landowner entered
into the Canyon Gate Annexation Agreement on .,J Q and the Agreement was executed by
the parties and recorded as document J"7? -( 1 8-1 in the records of Gallatin County (the
"Agreement");
WHEREAS, Section 17.C, of the Agreement required Landowner to record a covenant
running with the land pursuant to the requirements set forth in Section P.A.and Section 17.B and
Landowner recorded such a covenant as document ;-2 7?41 f 8'8 in the records of Gallatin
County(the"Covenant");
Amendment to Canyon Gate Annexation Agreement 1
2805058 Page 2 of 5 07/13/2023 12.34.32 PM
WHEREAS, Section 17.13. of the Agreement provides that Landowner voluntarily offers
and agrees to provide within the R-5 zoning area within the CANYON GATE ANNEXATION, a
minimum of 60 housing units that are priced no greater than 120% of Area Median Income at an
interest rate of 3.5%per the matrix set forth in Exhibit B to the Agreement and as further defined
therein (the "income restricted units");
WHEREAS, Section 17.13 did not draw a distinction between income restricted units
which may be offered for sale versus income restricted units which may be offered for lease, and
the parties desire to clarify such language;
WHEREAS,the City and the Landowner intended to allow the income restricted units to
be offered for sale; and
WHEREAS, Section 22 of the Agreement specifies that modifications or amendments to
the Agreement are valid only if evidenced by a writing signed by the parties to the Agreement; and
WHEREAS, the parties have determined that it is in the best interests of the City and
Landowner, and in furtherance of the public health, safety and welfare of the community to enter
into the Amendment.
WITNESSETH:
IN CONSIDERATION of the mutual covenants and agreements herein contained, the
parties hereto agree as follows:
1. Recitals: The above recitals are true and correct and incorporated herein.
2. Amended Terms: Section 17.13 of the Agreement is hereby modified to specify that
Landown.er's obligation to provide a minimum of 60 income restricted units as provided therein
may be satisfied by offering such units to persons who qualify within the income restrictions for
purchase or for lease or for any combination of purchasing or leasing.
Amendment to Canyon Gate Annexation Agreement 2
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3. Modification of Covenant: Landowner and City shall execute and record a modification
to the Covenant to clarify that Landowner's obligation to provide a minimum of 60 income
restricted units as provided therein may be satisfied by offering such units to persons who qualify
within the income restrictions for purchase or for lease or for any combination of purchasing or
leasing, in a form to be approved by the City.
4. Effect of Amendment: This Amendment applies only to the portions of the Agreement as
specified herein and all other terms of the Agreement remain unchanged and in full force and
effect.
IN WITNESS WHEREOF,the parties hereto have caused this Amendment to be executed the
day and year first above written. r
Amendment to Canyon Gate Annexation Agreement 3
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LANDOWNER
CANYON GATE INVESTORS, LLC
a Montana limited liability company
By: CANYON GATE PARTNERS, LLC
a Montana limited liability company, its
Managing Member
By: Andrew Holloran, Manager
STATE OF }�, )
:ss
COUNTY OF 'n )
On this 7. ' day of ,2023, before me, the undersigned, a Notary
Public for the State of Mb tea.n3ra . ,personally appeared Andrew Holloran, as Manager
of Canyon Gate Partners, LLC, the Managing Member of Canyon Gate Investors, LLC,known
to me to be the landowner that executed the within instrun-lent, and acknowledged to me that they
executed the same for and on behalf of landowner_
1N WITNESS WHEREOF,I have hereunto set my hand and affixed my official seal the
day and year first above written.
(SEAL)
" LAUREN CUMMING—Si rANaeL V�r` 7',C.-snnw►ih A
Notary Pub0c, NoState of M „
�pTARIA4%._for the State of Montana
Residing at; Residing at T
SEAL.=�;' Bozeman, Montana My Commission Expires: p
My commission Expires: (Use 4 digits for expiration year)
September04, 2023
Amendment to Canyon Gate Annexation Agreement 4
2805058 Page 5 of 5 07/13/2023 12.34.32 PM
CITY OF BOZEMAN
W
B e ihelich, City Manager
,,......,
ATTEST: AV
,. •• ,
City clerk
Coy mot,
STATE.OF MONTANA )
:ss
COUNTY OF GALLAT.IN )
On this i 2 day of �L , 2023, before me, a Notary Public for the
state of Montana, personally appear6d Jeff Mihelich and Mike Maas,known to me to the persons
described in and who executed the foregoing instrument as City Manager and City Clerk respectively,
of the City of Bozeman, whose names are subscribed to the within instrument and acknowledged to ire
that they executed the same for and on behalf of said City.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and
year first above written.
(SEAL)
(Printed Name Here)
Notary Public fior the State of Montana
"'"' Residing at
uy'T�.;.,, JUL11= HUNTER g
Notary Public My Commission.Expires: - 2 C
=for the State of Montana
se its for ration ear
Residing at: (U 4 di expiration g p year)
3n�.SEAL..*�. Bozeman, Montana
MY Commission Expires:
June 11,2025
Amendment to Carryon Gate Annexation Agreement 5