CITY of RAPID CITY Agenda Item Summary
Public Works Committee Meeting Date: 4/30/2013		City Council Meeting Date: 5/6/2013
Staff Contact: Wade Nyberg		Petitioner: Wal-East Development, Inc.Click here to enter date.
Location: Elk Vale Road b/t Seger & Mall Dr
Agenda Title:
Authorize Mayor and Finance Officer to Sign Release of Covenant Agreement between the City of Rapid City and Wal-East Development.
Summary:
A Covenant Agreement was attached to the Wal-East Development’s property adjacent to North Elk Vale Road in 2007.  The Covenant provided that certain improvements were to be made to Elk Vale Road, which improvements have been made.  Also, the Covenant Agreement set out the cost share of the improvements between the City and Wal-East.  Wal-East has paid its share of the cost of improvements, and now asks for a release of the the Covenant to clear title to its property.
Funding Source & Fiscal Impact (if applicable):
No fiscal impact – all required payments have been made.
Recommendation:
Action: Choose an item. Approval Notes: Click here to enter text.
Options:
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Attachments & Links:
Release of Covenant Agreement	Original Covenant Agreement		Click here to enter text.
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