HomeMy WebLinkAbout2012-10-01 IDA PacketTHE INDUSTRIAL DEVELOPMENT AUTHORITY OF
THE CITY OF RIVERSIDE, MISSOURI
Board of Directors
Notice of Meeting
Notice is hereby given that the Board of Directors of The Industrial Development Authority of
the City of Riverside, Missouri will conduct a meeting at 6:00 p.m. on Monday, October 1, 2012, at the
City Hall ofRiverside, 2950 NW Vivion Road, Riverside, Missouri 64150.
The tentative agenda of this meeting includes:
1. OPENING
2. ROLL CALL
3. APPROVAL OF MINUTES OF MEETINGS: September 24, 2012
4. NEW BUSINESS
A. RESOLUTION 2012-022: A Resolution Authorizing the Sale and Transfer of Certain
Property to the City of Riverside, Missouri; Directing UMB Bank, as Trustee, to Release
Such Property from the Deed of Trust; and Authorizing Other Actions in Connection
Therewith (Horizons Industrial R.
5. ADJOURNMENT
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MINUTES
REGULAR MEETING
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF RIVERSIDE, MISSOURI
Monday, September 24, 2012
6:00 p.m.
The Industrial Development Authority of the City of Riverside, Missouri, met in regular session at City Hall,
2950 NW Vivion Road, Riverside, Missouri.
President Leland Finley called the meeting to order at 6:00 p.m. Answering roll call were Leland Finley, Bernie
Bruns, Harold Snoderley, Pam Darata, and Cy Houston. Also present were Community Development Director
Mike Duffy and Sarah Wagner, Community Development.
Approval of Minutes from Corrections were noted on the Minutes of September 13, 2012
September 13, 2012 Pam Darata moved to approve the minutes as corrected.
Resolution 2012-020: A
Resolution approving and
authorizing the execution of a
final plat of Riverside
Horizons Industrial III East
Resolution 2012-021:A
Resolution approving and
authorizing an allocation of
Levee District Assessments
attributable to Lots 1 & 2 of
the Final Plat of Riverside
Horizons Industrial III East
together with the execution
and delivery of documents
and actions relating thereto.
Bernie Bruns seconded and the motion passed 5-0.
Leland Finley read Resolution 2012-020: A Resolution approving and
authorizing the execution of a final plat of Riverside Horizons Industrial
III East.
Brent Miles with NorthPoint Development showed a power point
presentation and gave an overview of development occurring in Horizons
and the need for the final plat to accommodate new construction of
Horizons Industrial Spec III.
Pam Darata moved to approve Resolution 2012-020.
Cy Houston seconded and the motion passed 5-0.
Leland Finley read Resolution 2012-021: A Resolution approving and
authorizing an allocation of Levee Drastic Assessments attributable to
Lots 1 & 2 of the Final Plat of Riverside Horizons Industrial III East
together with the execution and delivery of documents and actions
relating thereto.
Mike Duffy, Director of Community Development explained that the
allocation of Levee Assessments is necessary because the final plat.
Levee Assessments are tied back to the individual parcel, so anytime
there is a change to the lots in this area a new allocation must be done.
Leland Finley questioned a discrepancy between the square footage
before and after the plat. It was agreed upon that the IDA would approve
the resolution with the higher total square footage and staff would
reevaluate and make any necessary changes.
Pam Darata moved to approve Resolution 2012-021.
Bernie Bruns seconded and the motion passed 5-0.
Adjournment Cy Houston moved to adjourn the meeting at 6:19 p.m.
Bernie Bruns seconded and the meeting was adjourned.
IDA Resolution 2012-022
IDA
RESOLUTION NO. 2012-022
A RESOLUTION AUTHORIZING THE SALE AND TRANSFER OF
CERTAIN PROPERTY TO THE CITY OF RIVERSIDE, MISSOURI;
DIRECTING UMB BANK, AS TRUSTEE, TO RELEASE SUCH
PROPERTY FROM THE DEED OF TRUST; AND AUTHORIZING OTHER
ACTIONS IN CONNECTION THEREWITH (HORIZONS INDUSTRIAL III).
Pursuant to the provisions of Chapter 349, RSMo., as amended, the Board of Directors
of The Industrial Development Authority of the City of Riverside, Missouri (the "IDA"), hereby
adopt this Resolution and direct that this Resolution be filed with the official IDA minutes:
WHEREAS, the IDA issued its Industrial Development Revenue Bonds (Riverside
Horizons Infrastructure Project - City of Riverside, Missouri), Series 2007 in the principal amount
of $40,265,000 (the "Bonds"); and.
WHEREAS, the City of Riverside, Missouri ("City"), the IDA, and UMB Bank, N.A.,
entered into that certain Financing and Cooperation Agreement dated as of May 1, 2007 relating
to the Bonds (the "Financing Agreement"); and
WHEREAS, the Financing Agreement requires that IDA, upon direction of the City,
transfer and sell the Mortgaged Property (as defined in the Financing Agreement), in whole or in
part, in one or more transactions; and
WHEREAS, the IDA has an interest in the Mortgaged Property legally described in
Exhibit A attached hereto; and
WHEREAS, the City has, pursuant to Resolution R-2012-131, a copy of which is
presented with this Resolution and is on file with the Secretary, directed the IDA to convey its
interest in that certain portion of the Mortgaged Property, the legal description of such portion
being:
All of Lot 1 OF RIVERSIDE HORIZONS INDUSTRIAL 111 EAST, a subdivision in
the City of Riverside, Platte County, Missouri, subject to all easements and
restrictions of record,
to the City upon compliance with the terms and conditions of the Financing Agreement;
NOW THEREFORE, BE IT RESOLVED, by the Board of Directors of the Industrial
Development Authority of the City of Riverside, Missouri as follows:
Section 1. The IDA's conveyance of all right, title and interest in the Property to the City
at the price of $.50 per square foot is hereby approved. There are 424,526 +/- square feet
within the Property making the purchase price of the Property $212,263 (the "Sales Price").
Section 2. The Special Warranty Deed conveying all right, title and interest of the IDA in
the Property is hereby approved in substantially the form attached as Exhibit A and the
IDA Resolution 2012-022
President and Vice President are hereby authorized to enter into, execute and deliver and the
Secretary and the Assistant Secretary are hereby authorized to attest, such document with such
changes therein as shall be approved by the official of the IDA executing such document, such
official's signature thereon being conclusive evidence of his approval and the IDA's approval
thereof.
Section 3. The IDA hereby requests and directs that UMB Bank, as Trustee, upon
receipt of the sales price cause the release of the Property from the lien of the Deed of Trust.
Section 4. The President, Vice -President, Secretary, Assistant Secretary and other
appropriate officers and agents of the IDA are hereby authorized to take such further actions
and execute such other documents as may be necessary or desirable to carry out and comply
with the intent of this Resolution.
Section 5. The Resolution shall be in full force and effect from and after its adoption.
ADOPTED THIS DAY OF , 2012.
This Resolution was adopted at the meeting of the Board of Directors of the IDA duly
called and held this date.
Leland Finley, President
(SEAL)
ATTEST:
Secretary
IDA Resolution 2012-022
EXHIBIT A
FORM OF CONVEYANCE
SPECIAL WARRANTY DEED
THIS INDENTURE is made as of , 2012 by The INDUSTRIAL
DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE, MISSOURI, a public corporation
organized and existing under the laws of the State of Missouri, as grantor ("Grantor"), with a
mailing address of 2950 NW Vivion Road, Riverside, Missouri 64150 to CITY OF RIVERSIDE,
MISSOURI, a fourth class city organized and existing under the laws of the state of Missouri, as
grantee ("Grantee"), with mailing address of 2950 NW Vivion Road, Riverside, Missouri 64150.
WITNESSETH: THAT GRANTOR, in consideration of the sum of TEN AND NO/100
DOLLARS ($10.00) and other valuable consideration to it in hand paid by Grantee (the receipt
of which is hereby acknowledged) does by these presents, BARGAIN and SELL, CONVEY and
CONFIRM unto Grantee, its successors and assigns, the lots, tracts or parcels of land, lying,
being and situate in the County of Platte and State of Missouri as described as follows:
All of Lot 1,Riverside Horizons Industrial III East, a subdivision in the City of
Riverside, Platte County, Missouri, subject to all easements and restrictions of
record.
TO HAVE AND TO HOLD the premises aforesaid, with all and singular the rights
privileges, appurtenances and immunities thereto belonging or in anywise appertaining unto
Grantee and unto its successors and assigns forever, Grantor hereby covenanting that it is
lawfully seized of an indefeasible estate in fee of the premises herein conveyed; that it has good
right to convey the same; that said premises are free and clear from any encumbrance (except
as referenced above) done or suffered by it; and that it will warrant and defend the title to said
premises unto Grantee and unto its successors and assigns forever, against the lawful claims
and demands of all persons whomsoever claiming under it except as above stated.
IN WITNESS WHEREOF, Grantor has caused these presents to be signed as of the day
and year first above written.
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF RIVERSIDE, MISSOURI
By: xxxxxxxxxxxxxxxxxx
Leland Finley, President
ATTEST:
By: xxxxxxxxx
Sarah Wagner, Secretary
ACKNOWLEDGEMENT
STATE OF MISSOURI )
SS
COUNTY OF PLATTE )
IDA Resolution 2012-022
ON THIS day of , 2012, before me, the undersigned, a
Notary Public in and for said County and state, personally 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 public corporation
duly organized and existing under the laws of the state of Missouri, and that the seal affixed to
the foregoing instrument is the seal of said Authority, and that said instrument was signed and
sealed in behalf of said Authority by free act and deed of said Authority.
WITNESS my hand and official seal in the County and State aforesaid, the day and year
first above written.
xxxxxxxx
Notary Public Signature
(Seal)
xxxxxxxx
Printed or Typed Name
My Commission Expires:
Return Recorded Document to:
City of Riverside
Attn: Sarah Wagner
2950 NW Vivion Rd
Riverside, MO 64150
Grantor:
The Industrial Development Authority of the City of
Riverside, Missouri
2950 NW Vivion Road, Riverside, MO 64150
Grantee:
The City of Riverside, Missouri
2950 NW Vivion Road, Riverside, MO 64150
SPECIAL WARRANTY DEED
THIS INDENTURE is made as of , 2012 by The INDUSTRIAL
DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE, MISSOURI, a public corporation
organized and existing under the laws of the State of Missouri, as grantor ("Grantor"), with a
mailing address of 2950 NW Vivion Road, Riverside, Missouri 64150 to CITY OF RIVERSIDE,
MISSOURI, a fourth class city organized and existing under the laws of the state of Missouri, as
grantee ("Grantee"), with mailing address of 2950 NW Vivion Road, Riverside, Missouri 64150.
WITNESSETH: THAT GRANTOR, in consideration of the sum of TEN AND NO/100
DOLLARS ($10.00) and other valuable consideration to it in hand paid by Grantee (the receipt
of which is hereby acknowledged) does by these presents, BARGAIN and SELL, CONVEY and
CONFIRM unto Grantee, its successors and assigns, the lots, tracts or parcels of land, lying,
being and situate in the County of Platte and State of Missouri as described as follows:
All of Lot 1,Riverside Horizons Industrial III East, a subdivision in the City of
Riverside, Platte County, Missouri, subject to all easements and restrictions of record
TO HAVE AND TO HOLD the premises aforesaid, with all and singular the rights
privileges, appurtenances and immunities thereto belonging or in anywise appertaining unto
Grantee and unto its successors and assigns forever, Grantor hereby covenanting that it is
lawfully seized of an indefeasible estate in fee of the premises herein conveyed; that it has good
right to convey the same; that said premises are free and clear from any encumbrance (except
as referenced above) done or suffered by it; and that it will warrant and defend the title to said
premises unto Grantee and unto its successors and assigns forever, against the lawful claims
and demands of all persons whomsoever claiming under it except as above stated.
IN WITNESS WHEREOF, Grantor has caused these presents to be signed as of the day
and year first above written.
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF RIVERSIDE, MISSOURI
By:
Leland Finley, President
ATTEST:
By:
Sarah Wagner, Secretary
ACKNOWLEDGEMENT
STATE OF MISSOURI
SS
COUNTY OF PLATTE
ON THIS day of , 2012, before me, the undersigned, a
Notary Public in and for said County and state, personally 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 public corporation
duly organized and existing under the laws of the state of Missouri, and that the seal affixed to
the foregoing instrument is the seal of said Authority, and that said instrument was signed and
sealed in behalf of said Authority by free act and deed of said Authority.
WITNESS my hand and official seal in the County and State aforesaid, the day and year
first above written.
Notary Public Signature
(Seal)
Printed or Typed Name
My Commission Expires:
Title of Document: PARTIAL RELEASE
Date of Document: , 2012
Grantor: UMB BANK, N.A.
1010 Grand Blvd., 4th Floor
Kansas City, Missouri, 64106
Grantee:
Legal:
Reference:
THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF
RIVERSIDE, MISSOURI
2950 NW Vivion
Riverside, Missouri 64150
and
THE CITY OF RIVERSIDE, MISSOURI
2950 NW Vivion Road
Riverside, Missouri 64150
All of Lot 1,Riverside Horizons Industrial III East, a subdivision in the
City of Riverside, Platte County, Missouri, subject to all easements
and restrictions of record.
BK1103PG315
BK1111PG854
Return Recorded Document to:
City of Riverside
Attn: Nancy Thompson
2950 NW Vivion Rd
Riverside, MO 64150
BK1103PG316
BK1111PG853
PARTIAL RELEASE
The City of Riverside, Missouri
and
The Industrial Development Authority of the City of Riverside, Missouri
THIS PARTIAL RELEASE is executed on the day of , 2012 by
UMB BANK, N.A., a national association duly organized and existing under the laws of the
United States of America having a corporate trust office located at UMB Bank, N.A.; 1010 Grand
Blvd., 4th Floor, Kansas City, Missouri 64106, Attention: Corporate Trust Department, and its
successors and assigns, ("Mortgagee"), for the benefit of the CITY OF RIVERSIDE,
MISSOURI, a fourth class municipality of the State of Missouri, whose address is 2950 NW
Vivion Road, Riverside, Missouri 64150, ("City") and THE INDUSTRIAL DEVELOPMENT
AUTHORITY OF THE City OF RIVERSIDE, MISSOURI, a public corporation organized and
existing under the laws of the State of Missouri, having its principal office located at 2950 NW
Vivion, Riverside, Missouri 64150, ("Mortgagor") and the.
RECITALS:
A. The mortgagor issued its $30,265,000 Revenue Bonds (Riverside Horizons
Infrastructure Project - City of Riverside, Missouri) Series 2007A and $10,000,000 Revenue
Bonds (Riverside Horizons Infrastructure Project -City of Riverside, Missouri) Series 2007B
dated as of May 1, 2007 (the "Bonds").
B. In connection with the Bonds, Mortgagee and Mortgagor entered into a series of
security documents, including (but without limitation):
(i)
A Financing and Corporation Agreement dated May 1, 2007 between The
Industrial Development Authority of the City of Riverside, Missouri and UMB,
N.A.; recorded May 9, 2007 in Book 1103 a Page 315 in the office of the
Recorder of Deeds, Platte County, Missouri ("Financing Agreement").
(ii) A Deed of Trust and Security Agreement, granting a deed of trust lien on the
Property described therein, ("Mortgaged Property") to secure the payment of
the Series 2007 Bonds, and any other amounts or obligations secured thereby,
dated May 1, 2007, and recorded May 9, 2007 in Book 1103 at Page 316 in the
office of the Recorder of Deeds, Platte County, Missouri ("Mortgage").
C. Section 6.3 of the Financing Agreement set the minimum amount per square foot
which must be deposited with the Mortgagee with respect to a sale of all or any portion of the
Mortgaged Property at $.50 per square foot.
D. The City directed that the Mortgagor sell to the City 424,526 square feet of the
Mortgaged Property, the legal description of such property being set forth on Exhibit A
("Released Property") and Mortgagor, pursuant to a Special Warranty Deed, has sold and
transferred all right, title and interest in the Released Property to the City.
2
E. The City has paid to Mortgagee the sales price of $.50 per square feet for the
Released Property.
F. Pursuant to Section 6.5 of the Financing Agreement, it is necessary that the
Mortgagee release its lien with respect to the Released Property.
AGREEMENT
NOW, THEREFORE, in consideration of these Recitals, the mutual benefits and
obligations accruing under this and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Mortgagee agrees as follows:
1. Mortgagee does hereby release its lien on the Released Property, the legal
description of which is described on Exhibit A. This is a partial release of only the Released
Property and shall not affect the remaining Mortgaged Property or the indebtedness thereof on
the Mortgage or Financing Agreement.
2. Notwithstanding the release of the lien on the Released Property, the Mortgage,
in the initial principal amount of $30,265,000 for the Series 2007A bonds and $10,000,000 for
the Series 2007B bonds from the Mortgagor to the Mortgagee shall remain in full force and
effect indemnities and other obligations under the Mortgage which, by their terms, survive a
release of the lien on the Released Property, shall remain in full force and effect with respect to
the non -released property and are not cancelled.
3. Furthermore, notwithstanding anything to the contrary contained herein, any and
all liens created against the Released Property in the Mortgage and/or the Financing Agreement
are released in their entirety and in all respects, Mortgagee shall have no continuing rights,
interests or privileges whatsoever with respect to the Released Property, or any portion thereof,
and Mortgagee shall have no rights of action, foreclosure, recourse or otherwise whatsoever
with respect to or against the Released Property, or any portions(s) thereof, from and after the
date hereof, including, without limitation, arising from any purported breach or default by
Mortgagor or its successors or assigns of any obligations that purport to have survived the
release made hereby.
IN WITNESS WHEREOF, Mortgagee hereby executes this instrument to be effective as
of the date first written above.
MORTGAGEE: UMB BANK, N.A
By
Name: Wendee 1. Peres
Title: Vice -President
3
ACKNOWLEDGEMENT
STATE OF MISSOURI
}
} SS.
COUNTY OF JACKSON }
On this, the day of 2012, before me, the undersigned, a
Notary Public appeared Wendee I. Peres, who being before me duly sworn did say that she is a
Vice President of UMB Bank, N.A., a national banking association organized under the laws of
the United States of America and that the seal affixed to the foregoing instrument is the seal of
said association, and that said instrument was signed and sealed on behalf of said association
by authority of its board of directors, and said official acknowledged said instrument to be
executed for the purposes therein stated and as the free act and deed of said association.
IN WITNESS WHEREOF, I hereunder set my hand and affixed my notary seal, the day
and year last above written.
My commission expires:
4
Notary Public
Exhibit A
LEGAL DESCRIPTION OF PROPERTY
All of Lot 1,Riverside Horizons Industrial III East, a subdivision in the City of
Riverside, Platte County, Missouri, subject to all easements and restrictions of record
5
RIVERSIDE HORIZONS, LLC
6300 N. REVERE DRIVE, SUITE 225
KANSAS CITY, MIssouRI 64151
VIA FACSIMILE (816) 746-8349.
HAND DELIVERY AND US MAIL
City of Riverside
City Hall
2950 NW Vivian Road
Riverside, Missouri 64150
Attn: City Administrator
September 19, 2012
VIA FACSIMILE (816) 746-8349.
HAND DELIVERY AND US MAIL
City of Riverside
City Hall
2950 NW Vivian Road
Riverside, Missouri 64150
Attn: City Attorney
Re: Notice of Intent to Purchase Certain Property in the Briarcliff Horizons Site:
All or a part of Lot 2, REPLAT OF LOT 13, RIVERSIDE HORIZONS EAST
FIRST PLAT, and Lots 11 and 12, RIVERSIDE HORIZONS EAST FIRST
PLAT, subdivisions in the City of Riverside, Platte County, Missouri, according to
the recorded plats thereof, to be replatted as LOT 1, RIVERSIDE HORIZONS
INDUSTRIAL III EAST
Ladies and Gentlemen:
The City of Riverside, Missouri (the "City") and Briarcliff Realty, LLC (now known as BR
NorthPoint, LLC) entered into that certain Master Development Agreement (the "MDA") on
May 10, 2011. Thereafter, with the City's consent, BR NorthPoint, LLC assigned its rights and
obligations under the MDA to Briarcliff Horizons, LLC, which changed its name with the
Missouri Secretary of State on February 24, 2012 to Riverside Horizons, LLC (the "Developer"),
an affiliated entity of BR NorthPoint, LLC.
The MDA provides the Developer with certain vested rights to purchase, from time to time, all or
a portion of the property within the area of land delineated by the MDA known as the `Briarcliff
Horizons Site." The Developer now desires to purchase, pursuant to the terms and conditions
contained in the MDA, all or a part of Lot 2, REPLAT OF LOT 13, RIVERSIDE HORIZONS
EAST FIRST PLAT, and Lots 11 and 12, RIVERSIDE HORIZONS EAST FIRST PLAT,
subdivisions in the City of Riverside, Platte County, Missouri, according to the recorded plats
thereof, to be replatted as LOT 1, RIVERSIDE HORIZONS INDUSTRIAL III EAST as
depicted and described on the enclosed proposed Final Plat prepared by Renaissance
Infrastructure Consulting ("RIC"). The Purchase Price for the Property shall be $212,263.00,
which is based upon the MDA's purchase price of $0.50 per square foot and the Property's
measured square footage of 424,526 square feet as set forth in the proposed Final Plat.
{P:/DOCS/1893/037/006698662 }
RIVERSIDE HORIZONS, LLC
City of Riverside
City Hall
ATTN: City Administrator and City Attorney
September 19, 2012
Page 2
Therefore, pursuant to Section 7.5(a) of the MDA, the Developer hereby provides the City with
the required thirty (30) day prior written notice of the Developer's intent to purchase the property
described and depicted on Exhibit A hereto on October 19, 2012. The developing party will be
Horizons Industrial III, LLC, a Delaware limited liability company, and joint venture between
BR NorthPoint, LLC and The Northwestern Mutual Life Insurance Company.
Should you have any questions regarding this notice, please contact the undersigned at your
earliest opportunity. Thank you.
RIVERSIDE HORIZONS, LLC
By:
Nathaniel Hagedorn, 'ar . . _er
Enclosure: Proposed Final Plat, Riverside Horizons Industrial III E
I P:/DOCS/ 1893/037/00669866;2 1
RESOLUTION NO. R- 2012-131
A RESOLUTION AUTHORIZING THE PURCHASE OF LOT 1 OF RIVERSIDE HORIZONS
INDUSTRIAL III EAST FROM THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY
OF RIVERSIDE, MISSOURI; AUTHORIZING AND DIRECTING THE IDA TO TRANSFER AND
SELL SUCH PROPERTY TO THE CITY; AND AUTHORIZING OTHER DOCUMENTS AND
ACTIONS RELATED THERETO (HORIZONS INDUSTRIAL III)
WHEREAS, The Industrial Development Authority of the City of Riverside, Missouri
(the "IDA ") issued its Industrial Development Revenue Bonds (Riverside, Horizons Infrastructure
Project - City of Riverside, Missouri), Series 2007 in the principal amount of $40,265,000 (the
"Bonds"); and
WHEREAS, the City, the IDA, and UMB Bank, N.A.; entered into that certain Financing
and Cooperation Agreement dated as of May 1, 2007 relating to the Bonds (the "Financing
Agreement"); and
WHEREAS, the Financing Agreement requires that the IDA, upon direction of the City,
transfer and sell the Mortgaged Property, as defined in the Financing Agreement, in whole or in
part, in one or more transactions; and
WHEREAS, the City and Briarcliff Realty, LLC entered into that certain Master
Development Agreement (the "MDA") on May 10, 2011 which provides for the terms and
conditions upon which Briarcliff Realty may purchase a portion of the Mortgaged Property from
the City; and
WHEREAS, Briarcliff Realty assigned its rights and obligations under the MDA to Briarcliff
Horizons, LLC, an affiliated entity of Briarcliff Realty pursuant to Section 12.5(b) of the MDA; and
WHEREAS, 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
WHEREAS, on or about September 19, 2012 Riverside Horizons, LLC provided the City
with a Closing Notice pursuant to Section 7.5(a) of the MDA stating its notice of intent to purchase
certain property in the Briarcliff Horizons Site in order to construct a project on portion of the
Mortgaged Property, a copy of which is attached hereto as Exhibit A (the "Closing Notice"); and
WHEREAS, the project is anticipated to contribute towards increased activity and
revenues under the L-385 Levee Redevelopment Plan, as amended (the "TIF Plan"), and other
economic development within the City; and
WHEREAS, the City finds that it is necessary and in the best interests of the City, in order
to further the objectives of the TIF Plan and the objectives of industrial and economic
development for the City, to authorize sale of the Sale Property as provided herein for the sum of
$.50 per square foot; and
WHEREAS, in order to accommodate the project, the City desires to authorize and direct
the IDA to sell a certain portion of the Mortgaged Property, the legal description of which is
described on Exhibit B (the "Sale Property") to the City pursuant to the Special Warranty Deed,
the form of which is attached as Exhibit C; and
RESOLUTION NO. R- 2012-131
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE CITY
OF RIVERSIDE, MISSOURI, AS FOLLOWS:
THAT the Board of Aldermen hereby find and determine that it is in the best interest of the
City, in order to further the objectives of the TIF Plan, the objectives of industrial and economic
development of the City, and the terms and conditions of the MDA that the IDA sell the Sale
Property to the City;
FURTHER THAT the purchase of the Sale Property by the City from the IDA at the price
of $.50 per square foot is hereby approved. There are 424,526 square feet within the Sale
Property making the purchase price of the Sale Property $212,263 (the "Sale Price");
FURTHER THAT the City Finance Officer is authorized and directed to pay to UMB Bank
N.A., Trustee of the Bonds, the amount of $212,263 for the Sale Property, which funds shall be
deposited by the Trustee into the Special Redemption Account;
FURTHER THAT the IDA is directed to enter into and execute the Special Warranty Deed
attached hereto as Exhibit C in favor of the City;
FURTHER THAT 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 Resolution;
FURTHER THAT this Resolution shall be in full force and effect from and after its passage
and approval.
PASSED AND ADOPTED by the Board of Aldermen and APPROVED by the Mayor of the
City of Riverside, Missouri, the day of , 2012.
ATTEST:
Robin Littrell, City Clerk
Kathleen L. Rose, Mayor
Approved as to Form:
Nancy Thompson, City Attorney
RESOLUTION NO. R- 2012-131
EXHIBIT B
LEGAL DESCRIPTION OF PROPERTY
All of Lot 1 of RIVERSIDE HORIZONS INDUSTRIAL III EAST, a subdivision in the City
of Riverside, Platte County, Missouri, subject to all easements and restrictions of record.
RESOLUTION NO. R- 2012-131
EXHIBIT C
FORM OF SPECIAL WARRANTY DEED
IDA TO CITY
THIS INDENTURE is made as of , 2012 by The INDUSTRIAL
DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE, MISSOURI, a public corporation
organized and existing under the laws of the State of Missouri, as grantor ("Grantor"), with a
mailing address of 2950 NW Vivion Road, Riverside, Missouri 64150 to the CITY OF
RIVERSIDE, MISSOURI, a fourth class municipality organized and existing under the laws of
the state of Missouri, as grantee ("Grantee"), with mailing address of 2950 NW Vivion Road,
Riverside, Missouri 64150.
WITNESSETH: THAT GRANTOR, in consideration of the sum of TEN AND NO/100
DOLLARS ($10.00) and other valuable consideration to it in hand paid by Grantee (the receipt
of which is hereby acknowledged) does by these presents, BARGAIN and SELL, CONVEY and
CONFIRM unto Grantee, its successors and assigns, the lots, tracts or parcels of land, lying,
being and situate in the County of Platte and State of Missouri as described as follows:
All of Lot 1 of RIVERSIDE HORIZONS INDUSTRIAL III EAST, a subdivision in the City
of Riverside, Platte County, Missouri, subject to all easements and restrictions of record.
TO HAVE AND TO HOLD the premises aforesaid, with all and singular the rights
privileges, appurtenances and immunities thereto belonging or in anywise appertaining unto
Grantee and unto its successors and assigns forever, Grantor hereby covenanting that it is
lawfully seized of an indefeasible estate in fee of the premises herein conveyed; that it has good
right to convey the same; that said premises are free and clear from any encumbrance (except
as referenced above) done or suffered by it; and that it will warrant and defend the title to said
premises unto Grantee and unto its successors and assigns forever, against the lawful claims
and demands of all persons whomsoever claiming under it except as above stated.
IN WITNESS WHEREOF, Grantor has caused these presents to be signed as of the day
and year first above written.
THE INDUSTRIAL DEVELOPMENT
AUTHORITY OF THE CITY OF
RIVERSIDE, MISSOURI
By:
Pamela J. Darata, President
[SEAL]
ATTEST:
By:
Secretary
ACKNOWLEDGEMENT
STATE OF MISSOURI )
SS
COUNTY OF PLATTE )
RESOLUTION NO. R- 2012-131
ON THIS day of , 2012, before me, the undersigned, a Notary
Public in and for said County and state, personally appeared Pamela J. Darata to me personally
known, who being by me duly sworn, did say that she is the President of The Industrial
Development Authority of the City of Riverside, Missouri, a public corporation duly organized
and existing under the laws of the state of Missouri, and that the seal affixed to the foregoing
instrument is the seal of said Authority, and that said instrument was signed and sealed in
behalf of said Authority by free act and deed of said Authority.
WITNESS my hand and official seal in the County and State aforesaid, the day and year
first above written.
Notary Public Signature
(Seal)
Printed or Typed Name
My Commission Expires: