Title
Resolution to Accept Conveyance of Land for Public Park at North Oaks Condominium (Nixon Farms North) from Toll MI VI Limited Partnership (8 Votes Required)
Memorandum
This proposed conveyance of parkland is composed of two parcels that are currently part of the North Oaks Condominium (formerly known as Nixon Farms North). Council approved the purchase of the 10.17 acre parcel on November 16, 2015 by Resolution R-15-373. Toll MI VI Limited Partnership, the owner and developer of North Oaks Condominium, is donating an additional adjacent 5.9 acre parcel, which has been reviewed and recommended by the Land Acquisition Committee of the Park Advisory Commission, pending completion of due diligence.
The executed deeds and other necessary instruments will be held in escrow pending the City's completion of due diligence on the parcels, including title work, environmental, and survey review. Upon satisfactory completion of due diligence, the City will notify the escrow agent that the City accepts the property, the deeds will be recorded, and the property will transfer to the City. If the due diligence is not satisfactory to staff and cannot be corrected, the City will notify the escrow agent that the City will not accept the property, the deeds will not be recorded, and the City will not take ownership.
This escrow arrangement will allow the developer to obtain temporary certificates of occupancy in compliance with the development agreement while the City completes its due diligence.
Approval of this conveyance subject to escrow is recommended.
Staff
Prepared by: Michele Yanga, Legal Assistant
Reviewed by: Christopher Frost, Assistant City Attorney
Approved by: Howard S. Lazarus, City Administrator
Body
Whereas, Toll MI VI Limited Partnership, a Michigan limited partnership, is the owner and developer of property commonly known as North Oaks Condominium, formerly known as Nixon Farms North, described in a Master Deed recorded in Liber 5179, page 608 of ...
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