HomeMy WebLinkAboutResolutions 5632 - Resolution Title Unknown Docusign Envelope ID:9D64863D-8EC1-4D87-B691-9935175105F4 2843199
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City of Bozeman
City Clerk ,
PO Box 1230
Bozeman, MT 59771-1230
RESOLUTION 5632
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN,
MONTANA, RECOGNIZING AND REESTABLISHING THE MEADOW CREEK
TRAFFIC SIGNAL IMPROVEMENTS PAYBACK DISTRICT AND EXTENDING THE
TERMS OF THE MEADOW CREEK SUBDIVISION TRAFFIC SIGNAL
IMPROVEMENTS PAYBACK AGREEMENT,AS AMENDED.
WHEREAS, on January 29, 2008, the City of Bozeman entered into the Meadow Creek
Subdivision Payback Agreement for Traffic Signal Improvements with Meadow Creek Partners,
LLC and filed with the Gallatin County Clerk and Recorder as document number 2293491
("Traffic Signal Payback Agreement"), thereby establishing the Meadow Creek Traffic Signal
Improvements Payback District("the District"); and
WHEREAS, on October 29,2010,Meadow Creek Partners,LLC assigned all of its rights,
title, and interest in the Traffic Signal Payback Agreement to MCCAPITAL, LLC ("MCC") by
the Amendment to Meadow Creek Subdivision Payback Agreement for Traffic Signal
Improvement, filed with the Gallatin County Clerk and Recorder as document number 2374742
(together with the Traffic Signal Payback Agreement, the "Amended Traffic Signal Payback
Agreement"); and
WHEREAS,on November 3,2022,MCC submitted a request to extend the Traffic Signal
Payback Agreement for a period of twenty(20) years from the original expiration date; and
WHEREAS, the City of Bozeman agrees the City and the properties listed in the Traffic
Signal Payback Agreement have and continue to benefit from the traffic signal improvements
described in the Traffic Signal Payback Agreement, and an extension of the same would allow
MCC the possibility of a reasonable recovery under the Traffic Signal Payback Agreement.
NOW,THEREFORE,BE IT RESOLVED by the City Commission of the City of
Bozeman, Montana:
Section 1
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Re-Establishment of District. The Commission hereby recognizes the District established
in 2008 and hereby reestablishes the same by this resolution. The District boundary remains
unchanged as the boundary was previously described in Exhibit A and Exhibit B of the original
2008 Traffic Signal Improvements Payback Agreement.
Section 2
Extension and Term of Payback District and Amended Traffic Signal_ Improvements
Payback Agreement. The District and the Amended Traffic Signal Improvements Payback
Agreement shall continue until MCC has recovered fifty-eight and seventy-four hundredths
percent(58.74%)of the total"as-built"construction costs provided in Exhibit B of the 2008 Traffic
Signal Improvements Payback Agreement(recorded as pages 5-9 of document 2293491), or upon
expiration of the payback agreement,whichever is earlier,which by this 2nd Amended Agreement
is hereby extended for a period of twenty(20)years from the original date of expiration, extending
the Agreement to January 29, 2048. The Commission hereby adopts the 2nd Amendment to the
Meadow Creek Subdivision Payback Agreement for Traffic Signal Improvements, attached as
Exhibit A.
Section 3
Notice of Payback Costs/Timing of Payback. Current owners of the undeveloped
benefitted properties included on Exhibit B of the 2008 Traffic Signal Improvements Payback
Agreement(recorded as pages 5-9 of document 2293491) are hereby noticed that the District and
Traffic Signal Payback Agreement are reestablished and extended as described in Sections 1 and
2 of this Resolution with all original costs and payback terms remaining unchanged. Benefitted
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properties must be given credit for any previous payments made pursuant to the Amended Traffic
Signal Improvements Payback Agreement.
Section 4
Recording. The City Clerk is instructed to record this Resolution in the records of the
Gallatin County Clerk and Recorder.
PASSED,ADOPTED,AND APPROVED by the City Commission of the City of
Bozeman,Montana, at a regular session thereof held on the 17th day of December , 2024.
DacuSigned by:
fi C ►
TERRY CUNNINGHAM
Signed by: Mayor
noie:.
e`F dry
DocuSigned by: ° ?'
ATTEST:
MIKE MAAS
City Clerk
Signed by:
APPROVED AS TO FORM:
SU�,�.iv�aan.
GREG SULLIVAN
City Attorney
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After recordin , please return to:
Gallik&Br er P.C.
777 ) ast ain, Suite 203
Boze n, Montana 59715
2nd AMENDMENT TO MEADOW CREEK SUBDIVISION PAYBACK AGREEMENT
FOR TRAFFIC SIGNAL IMPROVEMENTS
THIS AGREEMENT,made and entered into this 17th day of December
2024, by and between the CITY OF BOZEMAN, a municipal corporation, organized
under its Charter and the laws of the State of Montana ("City)", and MCCAPITAL, LLC
("MCC").
WHEREAS, on January 29, 2008, the City of Bozeman entered into the Meadow Creek
Subdivision Payback Agreement for Traffic Signal Improvements with Meadow Creek Partners,
LLC and filed with the Gallatin County Clerk and Recorder as document number 2293491
("Traffic Signal Payback Agreement"), thereby establishing the Meadow Creek Traffic Signal
Improvements Payback District(the"District"); and
WHEREAS, on October 29, 2010,Meadow Creek Partners, LLC assigned all of its
rights,title, and interest in the Traffic Signal Payback Agreement to MCC by the Amendment to
Meadow Creek Subdivision Payback Agreement for Traffic Signal Improvements, filed with the
Gallatin County Clerk and Recorder as document number 2374742 (together with the Traffic
Signal Payback Agreement, the"Amended Traffic Signal Payback Agreement"); and
WHEREAS, on November 3, 2022,MCC submitted a request for a twenty (20)year
extension of the Amended Sanitary Sewer Payback Agreement; and
WHEREAS, notice of this 2nd Amended Agreement was mailed to the current owners of
undeveloped benefitted property within the established District boundaries and a public hearing
was held by the City Commission on December 17,2024; and
WHEREAS, the City of Bozeman has no obligation to extend this agreement but agrees
the City and properties within the District have and continue to benefit from the traffic signal
improvements provided pursuant to the Traffic Signal Improvements Payback Agreement and
that an extension would afford MCC the possibility of a reasonable recovery under the Traffic
2ND AMENDMENT TO MEADOW CREEK SUBDIVISION PAYBACK AGREEMENT
FOR TRAFFIC SIGNAL IMPROVEMENTS
Page 1 of 2
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Signal Improvements Payback Agreement, the City is receiving 7% of all payback payments as
an administrative fee and will continue to receive the fee on any of the benefitted properties that
use such City administrative services, and it is mutually beneficial to the parties to extend the
term of the existing agreement.
THEREFORE,the undersigned hereto agrees as follows:
The District and the Amended Traffic Signal Improvements Payback Agreement shall continue
until MCC has recovered fifty-eight and seventy four hundredths percent (58.74%) of the total
"as-built" construction costs provided in Exhibit B of the 2008 Traffic Signal Improvements
Payback Agreement (recorded as pages 5-9 of document 2293491), or upon expiration of the
Traffic Signal Improvements Payback Agreement which by this 2nd Amendment to Meadow
Creek Subdivision Payback Agreement for Traffic Signal Improvements will be extended for a
period of twenty (20) years from the original date of expiration, extending the agreement to
January 29, 2048, whichever occurs first.
All remaining terms of the Amended Traffic Signal Improvements Payback Agreement are not
affected by this Amendment and shall continue in operation and effect.
IN WITNESS WHEREOF, the parties have executed this instrument the day and year
first written above.
Signed by:
,assoze�
CITY OF BOZEMAN slgned by: �. y
C5098809196D 72...
BY: CHUCK WINN
ITS: INTERIM CITY MANAGER
MCCAPITAL,LLC
�AADoAAcuSlgned�by:'
BY. MONTE BECK
ITS: MANAGER
2ND AMENDMENT TO MEADOW CREEK SUBDIVISION PAYBACK AGREEMENT
FOR TRAFFIC SIGNAL IMPROVEMENTS
Page 2 of 2
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From MCA 1-5-610(7) For certifying a copy of an electronic record:
State of Montana
County of Gallatin
I certify that the foregoing and annexed record entitled Resolution 5632, dated December
17, 2024 and consisting of 5 pages is a true and correct copy of an electronic record printed
directly from the electronic file by me on . vw%vev y
Ad Wlaas
(Signature of notarial officer)
(Official stamp)
MIKE MAAS
Notary Public
�pTARcy for the State of Montana
= Residing at:
.SEAL:=Q; Belgrade, Montana
9 P,,, My commission Expires:
° op Mo `°` November 8