HomeMy WebLinkAbout1151 Amendment to Master Development Agreement with Briarcliff Horizons, LLC BILL NO. 2012-057 ORDINANCE NO. J I
AN ORDINANCE AUTHORIZING THE CITY TO ENTER INTO AN AMENDMENT
TO THE MASTER DEVELOPMENT AGREEMENT FOR THE DEVELOPMENT OF
THE BRIARCLIFF HORIZONS SITE AND AUTHORIZING OTHER DOCUMENTS
AND ACTIONS
WHEREAS, Briazcliff Realty, LLC and the City entered into a Master Development
Agreement far the development of the Briazcliff Horizons Site dated May 10, 2011 ("MDA");
and
WHEREAS, Briazcliff Realty assigned its rights and obligations under the MDA to
Briazcliff Horizons, LLC, an affiliated entity of Briazcliff Realty pursuant to Section 12.5(b) of
the MDA; and
WHEREAS, on or about February 13, 2012 Briazcliff Horizons, LLC filed articles of
amendment with the Missouri Secretary of State changing its name to Riverside Horizons, LLC;
and
WHEREAS, the City and Riverside Horizons, LLC desire to amend Exhibit G1 of the
MDA to add up to $600,000.00 in public infrastructure costs; and
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDERMEN OF
THE CITY OF RIVERSIDE, MISSOURI, AS FOLLOWS:
Section 1: It is in the best interest of the City, in order to further the objectives of
industrial and economic development of the City, to enter into the amendment to Exhibit C-1 of
the MDA, attached hereto as Exhibit A;
Section 2: Representatives of the City aze hereby authorized and directed to execute
the amendment to Exhibit C-1 of the MDA attached hereto as Exhibit A;
Section 3: The City shall, and the officers, agents, and employees of the City are
hereby authorized and directed to, take such further action and execute and deliver such
documents and instruments as may be necessary or desirable to carry out and comply with the
intent of this Ordinance;
Section 4: This Ordinance shall be in full force and effect from and after its passage
and approval.
PASSED AND APPROVED: the � day of � , 2012.
WA 3671341.1
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Kathleen L. Rose, Mayor
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Robm vittretl; - ity Clerk
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EXHIBIT A
SECOND AMENDMENT TO MASTER DEVELOPMENT AGREEMENT
THIS SECOND AMENDMENT TO MASTER DEVELOPMENT AGREEMENT (°°Second
Amendment") is made and entered into as of August ��'2012 ("Effective Date"), by and between the
CITY OF RIVERSIDE, MISSOURI, a city and political subdivision duly organized and existing under
the Constitution and laws of the State of Missouri ("City"), and RIVERSIDE HORIZONS, LLC a
limited liability company duly organized and existing under the laws of the State of Missouri
("Developer"). This Second Amendment amends thaz certain Master Development Agreement executed
between the parties on May 10, 2011 ("Original Master Development AgreemenY').
RECITALS
A. The City and Developer previously entered into the Original Master Development Agreement
on May 10, 2011 as subsequently amended, to provide for the development of an approximately 260 acre
tract of land known as the Briarcliff Horizons Site and the parties desire to provide for the construction of
additional public infrastructure by the City.
B. Briarcliff Realty assigned its rights and obligations under the MDA to Briazcliff Horizons,
LLC, an affiliated entity of Briarcliff Realty pursuant to Section 12.5(b) of the MDA; and
C. On or about February 13, 2012 Briarcliff Horizons, LLC filed articles of amendment with the
Missouri Secretary of State changing its name to Riverside Horizons, LLC; and
D. The construction of additional public infrastructure by the City as provided for in this
Agreement, fulfills a public purpose and will further the growth of the City, facilitate the development of
the entire Horizons site, improve the environment of the City, foster increased economic activity within
the City, increase employment opportunities within the City, enable the City to direct the development of
the Horizons site, and otherwise be in the best interests of the City by furthering the health, safety, and
welfare of its residents and taxpayers
E. The City and Developer desire to enter into this Second Amendment with respect to the
construction of additional public infrastrucmre by the City.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants and conditions contained herein
and for other good and valuable consideration the receipt and sufficiency of which is hereby
acknowledged, the parties agree that the Original Master Development Agreement is hereby amended as
follows:
1. The following new language is hereby added to Exhibit G1 of the Agreement:
"The City shall spend up to $600,000.00 in public infrastructure costs related to
the construction of the Horizons Industrial II project, which shall be in addition to the Phase I
Infrastructure Project Cost Budget described in Section 4.2(a) and as more fully detailed in this
Exhibit C-I and shall not be subject to the Infrastructure Project Cost Split described in Section
4.2(b).
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2. This Second Amendment and the Original Master Development Agreement together with any
prior amendments constitute the entire agreement of the parties and supersede all prior or
contemporaneous agreements, proposals, inquiries, commitments, discussions and correspondence,
whether written or oral. This Second Amendment and the Original Master Development Agreement
together with any prior amendments may not be amended or modified except in writing signed by a duly
authorized representative of each party. Other than as set forth above, the Original Master Development
Agreement remains unchanged and in full force and effect. In the event of a conflict between the terms of
the Original Master Development Agreement and this Second Amendment, this Second Amendment will
control.
IN WITNESS WHEREOF, the parties hereto have executed this Second Amendment to Master
Development Agreement as of the date first above written.
"CITY" CITY OF RIVERSIDE, MISSOURI
By:��_��R'�s o.e�
Kathleen L. Rose, Mayor
(SEAL) � �
Attest �
� . ��t-�.��
Robin Cittrell, City Clerk
STATE OF MISSOURI )
) SS.
COUNTY OF PLATTE )
On this � day of LX.t,c ' c� , 2012, before me appeared Kathleen L. Rose, to me
personally known, who, being by m` duly sworn, did say that she is the Mayor ofthe CITY OF
RIVERSIDE, MISSOURI, a political subdivision ofthe State of Missouri, and that the seal affixed to the
foregoing instrument is the seal of said City, and said instrument was signed and sealed in behalf of said
City by authority of its Board of Aldermen, and said individual acknowledged said instrument to be the
free act and deed of said Ciry.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in the County
and State aforesaid, the day and year first above written. ../ �
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Notary Publ'c
My Commission Expires:
"DEVELOPER" RIVERSIDE HORIZONS, LLC, a Missouri
limited liabi � n any: -
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ROBIN L. UTTRELL Name: ¢o(o,CaJ
Nottry �ubHe•Notary Seal
ShU ol Miasouri, Ray County
COmmisaion M 11390637 4 WA 3671341.1
My Commiaafon Expires Mar 8, 2075
Title: � n n��P �,�
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STATE OF MISSOURI )
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COUNTY OF�a��P � )
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On this � � S day of � 2012, before me appeared 0. e� p to
me personally known, who, being by me ly sworn, did say that he is the �anac, e,� of
Riverside Horizons, LLC, a Missouri limited liability company„ and that he is aut o ized to sign the
instrument on behalf of said company by authority of its members, and acknowledged to me that he
executed the within instrument as said company's free act and deed.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in the
�.pu.,,�,, and State aforesaid, the day and year first ab itten.� �_ �/
� � ��,..� c �S . ��GCiL2X��
Notary Public
My Commission Expires:`��,� g' ��S
ROBIN l. LITTRELL
NoUry PuhNe•Notary Seal
State of Missouri, Rey County
Commission � 11390631
My Commission Ezpires Mar 8, 2015
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