HomeMy WebLinkAbout2012-025 IDA Resolution Allocation of Levee District Assessments Tract 27 IDA RESOLUTION NO.2012-025
IDA
RESOLUTION NO. 2012-025
A RESOLUTION APPROVING AND AUTHORIZING AN ALLOCATION OF LEVEE
DISTRICT ASSESSMENTS AGREEMENT TOGETHER WITH THE EXECUTION AND
DELIVERY OF DOCUMENTS AND ACTIONS RELATING THERETO (Tract 27)
WHEREAS, the Industrial Development Authority of the City of Riverside, Missouri
("Authority") owns certain property ("Property") in the Horizons development area that was
originally assessed by the Riverside-Quindaro Bend Levee District ("Levee District") as Tract
27; and
WHEREAS, the Property has been subdivided into two or more smaller parcels and it
is necessary to allocate the benefits afforded by the by the Levee District and assessments
among the various smaller parcels and the Board of Directors finds it to be in the best interest
of the Authority to allocate the benefits as set forth in Exhibit"A" attached hereto;
NOW THEREFORE, BE IT RESOLVED BY THE INDUSTRIAL DEVELOPMENT
AUTHORITY OF THE CITY OF RIVERSIDE, MISSOURI, AS FOLLOWS:
THAT the President is hereby authorized to execute and deliver the Agreement
Allocating Benefits for Levee District Assessments Relating to The Riverside Quindaro Bend
Levee District of Platte County, Missouri by and between the Industrial Development Authority
of the City of Riverside, Missouri and NorthPoint Development in substantially the same form
as attached hereto as Exhibit"A", with such changes as are approved by the officer
executing such document, such execution being conclusive proof of such approval, the
Assistant Secretary is authorized to attest thereto;
FURTHER THAT the President and Assistant Secretary are hereby authorized to
execute such additional documents and take such actions as are necessary or desirable to
effectuate the intent of this Resolution;
PASSED AND ADOPTED by the Industrial Development Authority and APPROVED
by the Preside of h Industrial Development Authority of the City of Riverside, Missouri, the
_L(.�_day of 2012.
Leland Finley, President
ATTEST:
Sarah Wagne , Assis t Secretary
Title of Document: Agreement Allocating Benefits for Levee District Tax Assessments
Relating to the Riverside Quindaro Bend Levee District of Platte County,
Missouri.
Date of Document: 2012
IDA: The Industrial Development Authority of
the City of Riverside,Missouri
Address: 2950 NW Vivion Road
Riverside, MO 64150
NorthPoint: City of Riverside
Address: 2950 NW Vivion Road
Riverside,MO 64150
Legal Description: See Exhibit A
RETURN RECORDED DOCUMENT TO CITY OF RIVERSIDE
City of Riverside
Attn: Sarah Wagner
2950 NW Vivion Road
Riverside,MO 64150
(816)741-3993
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AGREEMENT ALLOCATING BENEFITS FOR LEVEE DISTRICT TAX
ASSESSMENTS RELATING TO
THE RIVERSIDE QUINDARO BEND LEVEE DISTRICT
OF PLATTE COUNTY,MISSOURI
This Agreement is made as of 2012 between THE INDUSTRIAL
DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE, MISSOURI, a
Missouri corporation ("IDA"), having an address of 2950 NW Vivion Road, Riverside, MO
64150 and NORTHPOINT DEVELOPMENT, LLC, a Missouri limited liability company
("NorthPoint"),having an address of 6300 NW Revere—Suite 225, Kansas City, MO 64151.
Whereas, In The Matter of Riverside-Quindaro Bend Levee District Platte County,
Missouri, Case No. 99 CC 00930, in the Circuit Court of Platte County, Missouri, Sixth Judicial
District (the "Court"), benefits in the amount of$2,033,546 ("Benefits") were assessed against
the property generally known in the Riverside-Quindaro Bend Levee District of Platte County,
Missouri ("Levee District") as Tract 27, Tax Parcel No. 23-3.0-07-000-000-012-000 ("Original
Tract"), which equaled a percentage of the Levee District annual benefit assessments allocated to
the Original Tract of 2.709500%; and
Whereas,the Original Tract has been subdivided or split into two or more parcels ("New
Tracts"); and
Whereas, the Levee District assesses annual debt service, maintenance and other taxes
based upon the benefits assessed by the Court against each tract of land; and
Whereas, the parties desire that the Benefits of the Original Tract be allocated between
the New Tracts as set forth in this Agreement;
NOW THEREFORE, in consideration of the mutual covenants and premises contained
in this Agreement, and other good and valuable consideration acknowledged by the parties, the
parties agree as follows:
1. Legal Description of Original Tract. The parties represent and warrant that the
legal description for the Original Tract is as follows:
See Exhibit "A", attached.
2. Legal Description of New Tracts. The Original Tract was divided by IDA and
NorthPoint into two separate tracts (the "New Tracts"), legally described in Exhibit `B"attached
hereto and incorporated herein by reference.
3. Allocation of Benefits. The parties hereby irrevocably agree that the Benefits
shall be allocated from the Original Tract between the New Tracts as follows:
New Tract#27-1: $1,495,889 (73.561% of Original Tract 27 resulting in a total % of the
Levee District annual benefit assessments of 1.993125%allocated to New Tract#27-1)
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New Tract # 27-2: $537,657 (26.439% of Original Tract 27 resulting in a total % of the
Levee District annual benefit assessment of 0.716375% allocated to New Tract#27-2)
4. Running with the Land. The provisions of this Agreement shall be perpetual
covenants running with the land and shall inure to the benefit of the Levee District, the parties
and their respective successors and assigns, and be binding upon the parties and their respective
successors, assigns, and grantees, including but without limitation, all subsequent owners of any
parcel or property affected hereby and all persons claiming under or through them.
5. Representations and Warranties. Each of the parties to this Agreement hereby
represents and warrants to the other that each person executing this document has the full power
and authority to execute this document on behalf of the respective IDA and Northpoint and has
the power and authority to legally bind the respective IDA and NorthPoint as set forth herein.
6. Recording. Each of the parties to this Agreement consent to the filing of this
Agreement in the Office of the Platte County Recorder of Deeds and that a copy of such
recorded document shall be provided to the Levee District by IDA.
7. Reliance and Third Party Beneficiary. The Levee District shall be entitled to
rely upon this Agreement in preparing its Tax Book and all other records for the current year and
every year thereafter. The parties agree that the Levee District is an intended third party
beneficiary of this Agreement and may irrevocably rely upon the terms and provisions of this
Agreement.
8. Amendments. This Agreement may not be revoked, amended or modified except
in a writing executed by the parties. Such amendment must be recorded of record and a fully
executed and recorded copy of each and every amendment must be provided to the Levee
District as required for this Agreement under Section 6 above. No amendment shall be effective
as to the Levee District unless and until a fully executed and recorded copy of such amendment
is provided to the Levee District. To be effective for any tax year, such fully executed and
recorded amendment must be actually received by the Levee District no later than August 15 of
such tax year.
IN WITNESS WHEREOF, this Agreement has been executed by the duly authorized
representatives of the parties as of the date first above written.
The Industrial Development Authority
Of the City of Riverside,Missouri, NorthPoint Development,LLC
By: \ r By:
Name: Leland Finley Name: Nathaniel Hagedorn
Title: President Title: President
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STATE OF MISSOURI )
) ss.
COUNTY OF PLATTE )
On this day of 2012, before me appeared Nathaniel
Hagedorn to me personally known, who, being by me duly sworn, did say that he is the
President of NorthPoint Development,LLC, a Missouri limited liability company, and that said
instrument was signed on behalf of said company, by authority of its members; and he
acknowledged said instrument to be the free act and deed of said company.
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.
Notary Public
My Commission Expires:
STATE OF MISSOURI )
) ss.
COUNTY OF PLATTE )
On this day of 2012,before me appeared Leland Finley to me
personally known, who, being by me duly sworn, did say that he is the President of The
Industrial Development Authority of the City of Riverside, Missouri a corporation
incorporated in the State of Missouri, and that said instrument was signed on behalf of said
corporation by authority of its Board of Directors; and that he acknowledged said instrument to
be the free act and deed of said corporation.
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.
NSUIry Public
My Commission Expires: k�A,e�be �. `aoG
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EXIIIBIT "A"
LEGAL DESCRIPTION OF ORIGINAL BENEFIT ASSESSMENT TRACT
Original Assessment Tract#27:
LOCATION: NEI/4 OF THE NW 1/4 FRACTIONAL SECTION 7,T50N, R33W,
PARCEL ID#: 23-3.0-0700-000-012-000
All that part of the Northeast Quarter of the Northwest Quarter and all that part of the Northwest
Quarter of the Northwest Quarter of Section 7,Township 50, Range 33, in the City of Riverside,
Platte County, Missouri, being described as follows: Beginning at the Northeast corner of the
Northwest Quarter of said Section 7;thence South 0 degrees 20 minutes 45 seconds West,along the
East line of said Northwest Quarter, 1316.20 feet to the Southeast corner of said Northeast Quarter;
thence North 89 degrees 23 minutes 03 seconds West, along the South line of the Northeast
Quarter of said Northwest Quarter, 1249.93 feet to the East line of the Levee right-of-way line as
recorded in Book 957 at Page 142 in the Recorder of Deeds in Platte County, Missouri;thence North
0 degrees 38 minutes 46 seconds East,along said East line, 29.73 feet;thence North 89 degrees 24
minutes 45 seconds West along said East line,93.17 feet;thence North 70 degrees 58 minutes 37
seconds West, along said East line,79.82 feet;thence North 0 degrees 38 minutes 44 seconds East,
along said East line,714.73 feet;thence North 02 degrees 14 minutes 31 seconds East, along said
East line 307.73 feet;thence North 0 degrees 51 minutes 31 seconds East, along said East line,
238.68 feet to a point on the North line of said Northwest Quarter,thence South 89 degrees 23
minutes 45 seconds East, along said North line, 1402.50 feet to the Point of Beginning. Containing
42.55 acres, more or less.
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EXHIBIT "B"
LEGAL DESCRIPTION OF NEW BENEFIT ASSESSMENT TRACTS
New Assessment Tract#27-1 (+/-1,363,297 sq.ft.):
Part of the Northwest Quarter of Fractional Section 7,Township 50 North, Range 33 West, in the
City of Riverside, Platte County, Missouri, described as follows:
All that part of the Northeast Quarter of the Northwest Quarter and all that part of the Northwest
Quarter of the Northwest Quarter of Section 7,Township 50, Range 33, in the City of Riverside,
Platte County, Missouri, being described as follows: Beginning at the Northeast corner of the
Northwest Quarter of said Section 7;thence South 0 degrees 20 minutes 45 seconds West,along the
East line of said Northwest Quarter, 1316.20 feet to the Southeast corner of said Northeast Quarter;
thence North 89 degrees 23 minutes 03 seconds West,along the South line of the Northeast
Quarter of said Northwest Quarter, 1249.93 feet to the East line of the Levee right-of-way line as
recorded in Book 957 at Page 142 in the Recorder of Deeds in Platte County, Missouri;thence North
0 degrees 38 minutes 46 seconds East, along said East line, 29.73 feet;thence North 89 degrees 24
minutes 45 seconds West along said East line, 93.17 feet;thence North 70 degrees 58 minutes 37
seconds West,along said East line,79.82 feet;thence North 0 degrees 38 minutes 44 seconds East,
along said East line,714.73 feet;thence North 02 degrees 14 minutes 31 seconds East, along said
East line 307.73 feet;thence North 0 degrees 51 minutes 31 seconds East, along said East line,
238.68 feet to a point on the North line of said Northwest Quarter;thence South 89 degrees 23
minutes 45 seconds East, along said North line, 1402.50 feet to the Point of Beginning EXCEPT the
north 490,000 square feet of said tract described more particularly as follows: Part of the
Northwest Quarter of Fractional Section 7,Township 50 North, Range 33 West, in the City of
Riverside, Platte County, Missouri,described as follows: Commencing at the Northeast corner of
said Northwest Quarter;thence South 00020'45"West, coincident with the East line of said
Northwest Quarter, 25.00 feet to the Point of Beginning;thence continuing South 00"20'45"West,
coincident with said East line, 324.77 feet;thence departing said East line, North 89°23'44"West,
parallel with the North line of said Northwest Quarter, 1,408.32 feet to a point on the East line of
the Levee right-of-way line as recorded as Document No. 19451, in Book 957, Page 142, by the
Platte County Recorder of Deeds;thence North 02°14'31"West, coincident with said East right-of-
way line, 111.13 feet;thence North 00°51'31" East, continuing along said East right-of-way line,
238.68 feet to a point on the North line of said Northwest Quarter,thence South 89"23'44" East,
coincident with said North line, 1,352.50 feet to a point 50.00 feet West of the Northeast corner
thereof,thence departing said North line,South 00°20'45"West, parallel with the East line of said
Northwest Quarter,25.00 feet;thence South 89'23'44" East, parallel with the North line of said
Northwest Quarter,50.00 feet to the Point of Beginning.
New Assessment Tract#27-2 (+/-490,000 sq.ft.):
Part of the Northwest Quarter of Fractional Section 7,Township 50 North, Range 33 West, in the
City of Riverside, Platte County, Missouri,described as follows:
Commencing at the Northeast corner of said Northwest Quarter,thence South 00"20'45"West,
coincident with the East line of said Northwest Quarter, 25.00 feet to the Point of Beginning;thence
continuing South 00"20'45"West, coincident with said East line, 324.77 feet;thence departing said
East line, North 89°23'44"West, parallel with the North line of said Northwest Quarter, 1,408.32
feet to a point on the East line of the Levee right-of-way line as recorded as Document No. 19451, in
Book 957, Page 142, by the Platte County Recorder of Deeds;thence North 02014'31"West,
coincident with said East right-of-way line, 111.13 feet;thence North 00'51'31" East, continuing
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along said East right-of-way line,238.68 feet to a point on the North line of said Northwest Quarter;
thence South 89°23'44" East, coincident with said North line, 1,352.50 feet to a point 50.00 feet
West of the Northeast corner thereof;thence departing said North line,South 00'20'45"West,
parallel with the East line of said Northwest Quarter,25.00 feet;thence South 89023'44" East,
parallel with the North line of said Northwest Quarter,50.00 feet to the Point of Beginning.
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