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Purchase of Property by SB Development_Sycamore StreetTHE CTTY ©F DUB E Masterpiece on the Mississippi TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Purchase of Property from SB Development, LLC DATE: July 2, 2008 Dubuque a~aamericacn~ .'.~ 2007 City Attorney Barry Lindahl recommends that the City accept the deed to the property at the southwest corner of 16th Street and Sycamore Street now that it has been purchased by SB Development, LLC as part of the Bee. Branch Creek Restoration Project. I concur with the recommendation and respectfully request Mayor and City Council approval. C`s Michael C. Van Milligen MCVM/jh Attachment cc: Barry Lindahl, City Attorney Cindy Steinhauser, Assistant City Manager THE CITY OF DUB E Masterpiece on the Mississippi BARRY LINDA CITY ATTORN MEMORANDUM To: Michael Van Milligen City Manager DATE: June 27, 2008 Re: Purchase of Property from SB Development, LLC On October 1, 2007, the City entered into an agreement with SB Development, LLC to vacate an alley and convey the alley to SB Development, LLC. The agreement allowed SB Development, LLC to purchase an entire block of property adjacent to the Highway 151/61 Development LLC Project to be used in conjunction with that project. The agreement to vacate the alley provided further that in the event the City needed some or all of the property purchased by SB Development, LLC in connection with the Bee Branch Project, SB Development, LLC would sell the property back to the City. Because the City has determined that some of the property will be necessary for the Bee Branch Project, the City gave notice to SB Development, LLC that it intended to purchase the property. The City has now acquired the property. Attached is a resolution accepting the deed to the property. I recommend that the resolution be submitted to the City Council for consideration and approval. Attachment F:\USERS\tsteckle\Lindahl\SB Development, LLC\MVM_ResolutionAcceptingDeed_062708.doc OFFICE OF THE CITY ATTORNEY DUBUQUE, IOWA SUITE 330, HARBOR VIEW PLACE, 300 MAIN STREET DUBUQUE, IA 52001-6944 TELEPHONE (563) 583-4113 / FAx (563) 583-1040 / EMAIL balesq@cityofdubuque.org Prepared by: Barry A. Lindahl 300 Main Street Suite 330 Dubuque IA 52001 563 583-4113 Return to: Barry A. Lindahl 300 Main Street Suite 330 Dubuque IA 52001 563 583-4113 RESOLUTION NO. 217-08 ACCEPTING THE DEED TO CERTAIN REAL ESTATE IN DUBUQUE COUNTY, IOWA FROM SB DEVELOPMENT, LLC WHEREAS, the City of Dubuque entered into an Agreement with SB Development, LLC for the purchase of the following described real property in Dubuque County, Iowa: Lots 378, 379, 380, 381, 382, 413, 414, 415, 416 and 417, in East Dubuque No. 2, in the City of Dubuque, Iowa, according to the recorded plat thereof and Lot 378A in East Dubuque No. 2 in the City of Dubuque, Iowa. AND WHEREAS, the terms of the Agreement have now been met. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA, AS FOLLOWS: 1. The City of Dubuque hereby accepts the Warranty Deed from SB Development, LLC attached hereto. 2. The City Clerk is hereby authorized and directed to "record this Resolution and the Warranty Deed with the Dubuque County Recorder. Passed, approved and adopted this 7th day of July, 2008. Roy D. Buol, Mayor Attest: Jeanne F. Schneider, City Clerk STATE ~~' ~ Warranty Deed (Corporate/Business Entity Grantor) ' ~ THE IOWA STATE BAR ASSOCIATION ''s ? Official Form #335 sOCras~° Recorder's Cover Sheet Preparer Information: (Name, address and phone number) Brian J. Kane, 2100 Asbury Road, Suite 2, Dubuque, IA 52001, Phone: (563) 582-7980 Taxpayer Information: (Name and complete address) City of Dubuque 300 Main Street Dubuque, IA 52001 Return Document To: (Name and complete address) City of Dubugtre 300 Main Street Dubuque, IA 52001 Grantors: Grantees: SB Development, LLC City of Dubuque, Iowa Legal description: See Page 2 Document or instrument number of previously recorded documents: ® The Iowa State Bar Assocdation 2005 ICWYA~OCS® THE IOWA STATE BAR ASSOCIATION omeSal Form No. 335 Brian J. Kane FOR THE LEGAL EFFECT OF THE USE OF THIS FORM, CONSULT YOUR LAWYER sT~r~. ?~ ~ ~~ Warranty Deed ' (CorporateBusiness Entity Grantor) . 9s sac>:n~~° For the consideration of ten ($10.00) Dollar(s) and other valuable consideration, SB Development, LLC a(n)_limited liability companv organized and existing under the laws of Iowa does hereby Convey to City of Dubuque, Iowa, a municipal corporation the following described real estate in Dubuque County, Iowa: Lots 378, 379, 380, 381, 382, 413, 414, 415, 416, and 417 in East Dubuque No. 2 in the City of Dubuque, Iowa, according to the recorded plat thereof, and Lot 378A in East Dubuque No. 2 in the City of Dubuque, Iowa. The grantor hereby covenants with grantees, and successors in interest, that it holds the real estate by title in fee simple; that it has good and lawful authority to sell and convey the real estate; that the real estate is free and clear of all liens and encumbrances, except as may be above stated; and it covenants to Warrant and Defend the real estate against the lawful claims of all persons, except as may be above stated. Words and phrases herein, including acknowledgment hereof, shall be construed as in the sin- gular or plural number, according to the context. Dated: SB Development, LLC a(n) _limited liabili company By Wayne A. Briggs , President By STATE OF IOWA ,COUNTY OF DUBUQUE This instrument was acknowledged before me on this by Wayne A. Briggs as President of SB Development, LLC Notary Public ®The Iowa State BarASSO~iation 2005 335 WARRANTY DEED (CORPORATElBUSINESS ENTITY DEED) IOWADOCSW ' Revised June 2005