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HomeMy WebLinkAboutResolutions 5633 - Reestablishing the Meadow Creek Water Improvements Payback District RESOLUTION 5633 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN, MONTANA, RECOGNIZING AND REESTABLISHING THE MEADOW CREEK WATER IMPROVEMENTS PAYBACK DISTRICT AND EXTENDING THE TERMS OF THE MEADOW CREEK SUBDIVISION WATER IMPROVEMENTS PAYBACK AGREEMENT, AS AMENDED. WHEREAS, on January 29, 2008, the City of Bozeman entered into the Meadow Creek Subdivision Payback Agreement for Water Improvements with Meadow Creek Partners, LLC and filed with the Gallatin County Clerk and Recorder as document number 2293492 (“Water Payback Improvements Agreement”), thereby establishing the Meadow Creek Water Improvements District (“the District”); and WHEREAS, on October 29, 2010, Meadow Creek Partners, LLC assigned all of its rights, title, and interest in the Water Improvements Payback Agreement to MCCAPITAL, LLC (“MCC”) by the Amendment to Meadow Creek Subdivision Payback Agreement for Water Improvements, filed with the Gallatin County Clerk and Recorder as document number 2374741 (together with the Water Improvements Payback Agreement, the “Amended Water Payback Agreement”); and WHEREAS, on November 3, 2022, MCC submitted a request to extend the Amended Water Payback Agreement for a period of twenty (20) years from the original expiration date; and WHEREAS, the City of Bozeman agrees the City and properties listed in the Water Improvements Payback Agreement have and continue to benefit from the water improvements described in the Water Improvements Payback Agreement, and an extension of the same would allow MCC the possibility of a reasonable recovery under the Water Improvements Payback Agreement. NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of Bozeman, Montana: Docusign Envelope ID: 6D7F30D0-E61C-431A-A13A-24B2FD7F8716 Section 1 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 Water Improvements Payback Agreement. Section 2 Extension and Term of Payback District and Amended Water Improvements Payback Agreement. The District and the Amended Water Improvements Payback Agreement shall continue until MCC has recovered seventy three and fifty nine hundredths percent (73.59%) of the total “as-built” construction costs provided in Exhibit B of the 2008 Water Improvements Payback Agreement (recorded as pages 5-8 of document 2293492), 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 Water 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 Water Improvements Payback Agreement (recorded as pages 5-8 of document 2293492) are hereby noticed that the District and the Water Improvements 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 Docusign Envelope ID: 6D7F30D0-E61C-431A-A13A-24B2FD7F8716 properties must be given credit for any previous payments made pursuant to the Amended Water 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 day of , 2024. ___________________________________ TERRY CUNNINGHAM Mayor ATTEST: ___________________________________ MIKE MAAS City Clerk APPROVED AS TO FORM: ___________________________________ GREG SULLIVAN City Attorney Docusign Envelope ID: 6D7F30D0-E61C-431A-A13A-24B2FD7F8716 December17th 2ND AMENDMENT TO MEADOW CREEK SUBDIVISION PAYBACK AGREEMENT FOR WATER IMPROVEMENTS Page 1 of 2 After recording, please return to: Gallik & Bremer P.C. 777 East Main, Suite 203 Bozeman, Montana 59715 2nd AMENDMENT TO MEADOW CREEK SUBDIVISION PAYBACK AGREEMENT FOR WATER IMPROVEMENTS THIS AGREEMENT, made and entered into this day of , 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 Water Improvements with Meadow Creek Partners, LLC and filed with the Gallatin County Clerk and Recorder as document number 2293492 (“Water Improvements Payback Agreement”, thereby establishing the Meadow Creek Water 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 Water Improvements Payback Agreement to MCC by the Amendment to Meadow Creek Subdivision Payback Agreement for Water Improvements, filed with the Gallatin County Clerk and Recorder as document number 2374741 (together with the Water Improvements Payback Agreement, the “Amended Water Improvements Payback Agreement”); and WHEREAS, on November 3, 2022, MCC submitted a request for a twenty (20) year extension of the Amended Water Improvements 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 water Docusign Envelope ID: 6D7F30D0-E61C-431A-A13A-24B2FD7F8716 17th December 2ND AMENDMENT TO MEADOW CREEK SUBDIVISION PAYBACK AGREEMENT FOR WATER IMPROVEMENTS Page 2 of 2 improvements provided pursuant to the Water Improvements Payback Agreement and that an extension would afford MCC the possibility of a reasonable recovery under the Water 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 Water Improvements Payback Agreement shall continue until MCC has recovered seventy-three and fifty nine hundredths percent (73.59%) of the total “as-built” construction costs provided in Exhibit B of the 2008 Water Improvements Payback Agreement (recorded as pages 5-8 of document 2293492), or upon expiration of the Water Improvements Payback Agreement which by this 2nd Amendment to Meadow Creek Subdivision Payback Agreement for Water Improvements will be extended for a period of twenty (20) years from the original date of expiration, extending the agreement to February 25, 2048, whichever occurs first. All remaining terms of the Amended Water 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. CITY OF BOZEMAN ___________________________________ BY: CHUCK WINN ITS: INTERIM CITY MANAGER MCCAPITAL, LLC ___________________________________ BY: MONTE BECK ITS: MANAGER Docusign Envelope ID: 6D7F30D0-E61C-431A-A13A-24B2FD7F8716 4t;.1UngpeaserehzrntoRyanXjadcscmJacksonLaw,P.C.225EastMendenhallBozemari,MT597252374741iiaG,a,pqF..AM[NDMENTTOMEADOWCREEKSUBDWISLONPAYBAQCAGREE!!ENTFORWATERIMPROVEMEN1,‘THISAGREEMENT,madeandenteredintothis.14thyof____ _ _ _ _ _ _ ____ _ _ _ _2010,byandbetweentheCITYOfBOZAN,amunicipalcorporalion,organizedunderthelawsoftheStateofMontana,(“City”),andMcCapttal,LLC(‘MCC).WHEREAS,theCity,onJanuary29,2006enteredintotheMeadowCreekSubdivisionPaybackAgreementforWatermrovementsf”Agreenwnt)withMeadowCreekPartners,LLCandLiedwiththeGaflatinCountyCierkandRecorderasdocumentnumber2293492;andWHEREAS,itisthedesireofMeadowCreekParners,LLCtoassignallofitsrights.titieandinterestIntheAgreementtoMCCiandWHEREAS,pursuanttotheAgreementtheCitymustprovidewrittenconsentforMeadowCreekPartners,LLCtoassignanyrightorobligationintheAgreemeneandTHEREFORE,theundersignedheretoagreesandacquiescestoMeadowCreekPartners,LLCassigningalltight.btle,anAlinterestintheAgreementtoMCC;andTHEREFORE,thetermsoftheAgreementshallcontinueintheiroperationandeffectandnoothertermstheretoarebeingamended.CityissimplyprovidingitsconsentthattheAgreementbeassignedtoMCC.INWITNESSWHEREOF,thepartiesheretohaveexecutedthisinstrumentthedayandyearfirstabovewritten.rrYOfBOZEMANVBY:A.ITS:______________NotaryBlockfollowsonNextPagePage1of2Docusign Envelope ID: 6D7F30D0-E61C-431A-A13A-24B2FD7F8716 2374741Page2of211/051201002:08:06PMSTATEOFMONTANA:55.CouxttyofGallatinOnthisdayof______________2010,beforeme,aNotaryPublicLottheStateofMontanapersonallyappearedPkk1ilS’bknowntometobetheLkørandthepersonwboeenameissubscribedtothethinthsxuIiertt.andacknow’edgedtomethathelsheexecutedtheSanleINWflNESSWHEREOF,IhavehareuntosetmyhandandaffixedmyNotariatSealthedayandyearfirstabovewritten.A$’’!Dju1eYw\t‘flO.io€.SNoyPuhlicforthetateofMoitana..-:,ResidingaL...,L.I-MyCommissionxp1res:0144i•Page2of2Docusign Envelope ID: 6D7F30D0-E61C-431A-A13A-24B2FD7F8716 Docusign Envelope ID: 6D7F30D0-E61C-431A-A13A-24B2FD7F8716 Docusign Envelope ID: 6D7F30D0-E61C-431A-A13A-24B2FD7F8716 Docusign Envelope ID: 6D7F30D0-E61C-431A-A13A-24B2FD7F8716 Docusign Envelope ID: 6D7F30D0-E61C-431A-A13A-24B2FD7F8716 Docusign Envelope ID: 6D7F30D0-E61C-431A-A13A-24B2FD7F8716 Docusign Envelope ID: 6D7F30D0-E61C-431A-A13A-24B2FD7F8716 Docusign Envelope ID: 6D7F30D0-E61C-431A-A13A-24B2FD7F8716 Docusign Envelope ID: 6D7F30D0-E61C-431A-A13A-24B2FD7F8716 Docusign Envelope ID: 6D7F30D0-E61C-431A-A13A-24B2FD7F8716 Certificate Of Completion Envelope Id: 6D7F30D0-E61C-431A-A13A-24B2FD7F8716 Status: Completed Subject: Complete with Docusign: Resolution_5633_Reestablishing_Water_Payback_District.pdf, 2nd_Amendmen... Source Envelope: Document Pages: 16 Signatures: 5 Envelope Originator: Certificate Pages: 5 Initials: 0 Alex Newby AutoNav: Enabled EnvelopeId Stamping: Enabled Time Zone: (UTC-08:00) Pacific Time (US & Canada) Stamps: 2 anewby@bozeman.net IP Address: 69.145.83.100 Record Tracking Status: Original 12/18/2024 10:53:36 AM Holder: Alex Newby anewby@bozeman.net Location: DocuSign Security Appliance Status: Connected Pool: StateLocal Storage Appliance Status: Connected Pool: City Manager Location: DocuSign Signer Events Signature Timestamp Monte Beck MBeck@becklawyers.com Security Level: Email, Account Authentication (None) Signature Adoption: Pre-selected Style Using IP Address: 174.45.249.234 Sent: 12/18/2024 10:59:27 AM Viewed: 12/18/2024 12:18:41 PM Signed: 12/18/2024 12:20:39 PM Electronic Record and Signature Disclosure: Accepted: 12/18/2024 12:18:41 PM ID: 631a21b9-01d7-40f0-9024-7b2aa5f4020b Greg Sullivan gsullivan@bozeman.net Bozeman City Attorney City of Bozeman, Montana Security Level: Email, Account Authentication (None) Signature Adoption: Pre-selected Style Using IP Address: 69.145.83.100 Sent: 12/18/2024 12:20:41 PM Viewed: 12/18/2024 12:22:17 PM Signed: 12/18/2024 12:22:26 PM Electronic Record and Signature Disclosure: Accepted: 12/18/2024 12:22:17 PM ID: 4fdd2997-f61c-4baf-a75a-3ae8ff03ccfb Chuck Winn cwinn@bozeman.net City Manager City of Bozeman Security Level: Email, Account Authentication (None) Signature Adoption: Pre-selected Style Using IP Address: 174.231.85.191 Signed using mobile Sent: 12/18/2024 12:22:28 PM Viewed: 12/20/2024 11:29:38 AM Signed: 12/20/2024 11:29:57 AM Electronic Record and Signature Disclosure: Accepted: 12/20/2024 11:29:38 AM ID: 175fc736-f837-40c9-83f3-6cfe71947eaf Terry Cunningham tcunningham@bozeman.net Mayor City of Bozeman Security Level: Email, Account Authentication (None) Signature Adoption: Pre-selected Style Using IP Address: 174.45.8.9 Signed using mobile Sent: 12/20/2024 11:30:00 AM Viewed: 12/20/2024 3:36:40 PM Signed: 12/20/2024 3:36:45 PM Electronic Record and Signature Disclosure: Signer Events Signature Timestamp Accepted: 11/3/2022 7:48:36 AM ID: 3079a697-195d-4eed-be8a-2bfe643492d2 Mike Maas mmaas@bozeman.net City Clerk City of Bozeman Security Level: Email, Account Authentication (None) Signature Adoption: Pre-selected Style Using IP Address: 69.145.83.100 Sent: 12/20/2024 3:36:47 PM Viewed: 1/2/2025 7:54:59 AM Signed: 1/2/2025 7:55:12 AM Electronic Record and Signature Disclosure: Accepted: 8/23/2022 2:22:44 PM ID: b1bb90fd-5db8-4a5f-9451-9536f39ef003 In Person Signer Events Signature Timestamp Editor Delivery Events Status Timestamp Agent Delivery Events Status Timestamp Intermediary Delivery Events Status Timestamp Certified Delivery Events Status Timestamp Carbon Copy Events Status Timestamp Anna Saverud asaverud@bozeman.net Chief Civil Attorney City of Bozeman Security Level: Email, Account Authentication (None) Sent: 1/2/2025 7:55:14 AM Viewed: 1/2/2025 7:56:09 AM Electronic Record and Signature Disclosure: Not Offered via DocuSign Witness Events Signature Timestamp Notary Events Signature Timestamp Envelope Summary Events Status Timestamps Envelope Sent Hashed/Encrypted 12/18/2024 10:59:27 AM Certified Delivered Security Checked 1/2/2025 7:54:59 AM Signing Complete Security Checked 1/2/2025 7:55:12 AM Completed Security Checked 1/2/2025 7:55:15 AM Payment Events Status Timestamps Electronic Record and Signature Disclosure ELECTRONIC RECORD AND SIGNATURE DISCLOSURE From time to time, City Manager (we, us or Company) may be required by law to provide to you certain written notices or disclosures. 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