HomeMy WebLinkAbout25 - Affordable Housing - Hinesley Family Limited Partnership & Sydney and Ethel - Laurel Glen Annexation Return to: City Manager Bozeman City Hall 2846933 121 N. Rouse Avenue EE Bozeman, MT 59715 Eric Semerad - Gallatinf 3 County, MT9 AM Fee MISC G© 1111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 WAIVER OF AFFORDABLE HOUSING PROVISION IN LAUREL GLEN ANNEXATION AGREEMENT THIS WAIVER OF AFFORDABLE HOUSING PROVISION IN LAUREL GLEN ANNEXATION AGREEMENT (this "Waiver") is made and given this I ff-1, day of February, 2025,by the CITY OF BOZEMAN, MONTANA, a duly organized and existing municipal corporation and political subdivision of the State of Montana (the "City"), with offices at 121 N. Rouse Avenue, Bozeman, Montana 59715, for the purpose of, and on the terms and conditions, set forth herein. RECITALS A. In connection with the Laurel Glen Annexation (as defined in the Annexation Agreement referenced below), the City and Chuck Hinesley, representing the Hinesley Family Limited Partnership, and Sydney and Ethel M. Dykstra, executed the Laurel Glen Annexation Agreement dated September 30, 2003, and recorded February 2, 2004, under Document No. 2139301, records of Gallatin County, Montana(the"Annexation Agreement"), with respect to real property situated in Gallatin County,Montana, more particularly described as follows (the "Annexed Tract"): A parcel of land being described as Lots 1, 2 and 3, Minor Subdivision No. 201, according to the plat thereof, on file and of record in the office of the Clerk and Recorder, Gallatin County, Montana, and all of Durston Road as dedicated on said Minor Subdivision No. 201, and all located in the East Half of the Southwest Quarter and the West Half of the Southeast Quarter of Section 4,Township 2 South, Range 5 East of P.M.M., Gallatin County, Montana, and more particularly described as: Beginning at the South Quarter comer of said Section 4; thence westerly 268' 14'44", assumed azimuth from north, 1337.41 feet along the south line of the Southwest Quarter of said Section 4; thence northerly 000' 45' 3 1" azimuth 2633.98 feet along the west line of said East Half of the Southwest Quarter; thence easterly 089' 18' 14" azimuth 2657.21 feet along the north line of the Southwest Quarter and the north line of the Southeast Quarter of said Section 4; thence southerly 180' 43' 3 8" azimuth 2620.28 feet along the east line of said West Half of the Southeast Quarter; thence westerly 269' 46' 58" azimuth 1321.88 feet along the south line of the Southeast Quarter of said Section 4 to the point of 1 2846933 Page 2 of 3 03/21/2025 08.14.59 AM beginning. Said tract being 159.7130 acres, more or less, along with and subject to all easements of fact and record. B. Section 13 of the Annexation Agreement addresses the intent to develop and offer certain housing units on the Annexed Tract, as follows (the"Affordable Housing Provision"): 13. Affordable Housing The Landowners hereby acknowledges that annexation and development of the subject property will have an impact on the cost and availability of housing stock in the Bozeman area. The Landowners have prepared and submitted a written letter evidencing its intent to develop and offer housing units which will be within Single Family Affordability Limits, as that term has been defined under H.U.D. guidelines, which letter by reference is made a part of this agreement and incorporated herein. C. Notwithstanding diligent efforts by the City and the Landowners, the written letter referenced in Section 13 (the "Letter Agreement') cannot be located and is deemed lost,which means the terms and conditions regarding the development of the housing units pursuant to the Letter Agreement cannot be ascertained. D. The Annexed Tract has been substantially developed by the Landowners or by the Landowners'successors in title to various portions of the Annexed Tract. E. With respect to prior, current and future development of projects or developments within the Annexed Tract, the City has agreed to waive the application and enforcement of the Affordable Housing Provision. WAIVER 1. Waiver of Affordable Housing Provision. In order clarify the application of the Affordable Housing Provision in the Annexation Agreement with respect to completed or contemplated projects within the Annexed Tract, and to facilitate the orderly development of future projects within the Annexed Tract, the City does hereby irrevocably waive and forego the application or enforcement of the Affordable Housing Provision with respect to any past, current or future projects or developments within the Annexed Tract. The City agrees that this waiver will remove or eliminate any doubt about Section 13 of the Annexation Agreement and the terms and conditions of the missing or lost Letter Agreement with respect to any lots or tracts of real property within the Annexed Tract, which benefits the City, as well as the owners and developers of projects within the Annexed Tract. Accordingly, this Waiver is and shall remain applicable to the Annexed Tract even if the Letter Agreement is discovered or located after the execution and delivery of this Waiver. 2. Binding Effect of Waiver. This Waiver is independent from all other agreements, is supported by sufficient independent consideration to which the City is a party, shall constitute a covenant that runs with all of the lots or tracts of real property within the Annexed Tract, shall be binding upon the City and its successors and assigns, and shall be recorded in the office of the County Clerk and Recorder of Gallatin County, Montana. The current and future owners of lots or tracts of real property within the Annexed Tract shall be entitled to rely on this Waiver and the 2 2846933 Page 3 of 3 03/21/2025 08:14-.59 AM City's agreement to waive and forego the enforcement of the Affordable Housing Provision. Other than the Affordable Housing Provision, the remaining terms and conditions of the Annexation Agreement shall remain in full force and effect. 3. Governing Law and Venue. The Waiver shall be construed under and governed by the laws of the State of Montana. In the event of litigation, the venue for such action shall be the Eighteenth Judicial District Court, in and for the County of Gallatin, State of Montana. IN WITNESS WHEREOF, the City has caused this Waiver to be executed the day and year set forth above. CITY OF BOZEMAN By: Ass, 5faA>✓/, M ATTEST: MM 7�--26— OJ4 ly City k �2o�as STATE OF MONTANA ) MK M SS. M County of Gallatin This instrument was acknowledged before me on this a0 ' day of Fes, 2025,by -)ldu k1l1(ns-Sbu and AL-Ex Noway , as the C, i�)0(5s1STY+,A4T- Manager and jClerk of the City of Bozeman, Montana. /4 1 &-, Notary Public " MIKE MAAS 11p"=Sr Notary Public :aoTARiq4'. `<for the State of Montana :4 -- *- Residing at: w,.SEAL. Belgrade, Montana My Commission Expires: Nv November 8,2025 3