Title
Request to Cancel and Rescind the Planned Unit Development Agreement and PUD Approval between the City of Rochester Hills and Lombardo Rochester Hills LLC - Sheffield of Rochester Hills, a proposed 58-unit PUD on approximately 9.6 acres, located west of Rochester Road and south of Avon, known as Parcel No. 15-22-226-016, Lombardo Rochester Hills, LLC, Applicant
Body
Whereas, on April 10, 2006, Lombardo Rochester Hills, LLC, 6303 26 Mile Rd., Suite 200, Washington, MI 48084, and the City made and entered into a certain Agreement, entitled Planned Unit Development Agreement between Lombardo Rochester Hills, LLC and the City of Rochester Hills (the "PUD Agreement"); and
Whereas, the PUD Agreement was intended and designed to govern the future development and use of the Subject Property, located on Meadowfield Drive, which Lombardo acquired from the City, and is known as Parcel No. 70-15-22-226-016 and more fully described in attached Exhibit A; and
Whereas, Lombardo has notified the City that due to the weak housing market, Lombardo will not be proceeding with the development and intends to sell the Subject Property; and
Whereas, the City and Lombardo now mutually desire to rescind the PUD Agreement and PUD Approval for the Subject Property.
Resolved, that in consideration of their mutual covenants, the City of Rochester Hills and Lombardo Rochester Hills LLC hereby cancel and rescind the PUD Agreement and PUD Approval, effective as of ____________. This mutual rescission of the PUD Agreement and PUD Approval shall bind the parties, their successors, grantees, assigns and personal representatives. Neither party shall have any further rights or duties under the PUD Agreement; and
Be It Further Resolved, that this mutual rescission of the PUD Agreement and PUD Approval does not affect, modify, revoke or rescind Lombardo's ownership of the Subject Property or any consideration given by Lombardo to the City for the Subject Property, nor does the mutual r...
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