AGENDA REPORT
DATE: October 13, 2025
TO: City Commission
FROM: Bill McDaniel, City Manager
SUBJECT: Resolution approving Special Warranty Deed with Foundry Lakeside Station, III, LLC and Partial Release of Mortgage, Assignment, Security Agreement and Fixture Filing and Assignment of Leases from Repimac One Lender, LLC.
EXECUTIVE SUMMARY:
On November 12, 2024, the City approved a Warranty Deed from Lakeside Station, LLC, for approximately 51.83 acres within the Lakeside Station Logistics Park at 2175 Henderson Way, east of Park Road. The property contains a lake and is planned as a City park with amenities added by the City, such as a walking trail, fishing nooks, boardwalk, picnic pavilions, tables, kayak/canoe docks, restrooms and parking.
At the time of approval, it was noted that an additional parcel - approximately 0.996 acres along the southern border would be conveyed later by a separate deed from Foundry Lakeside Station, III, LLC. Foundry Lakeside Station, III, LLC has now offered the Special Warranty Deed for this 0.996-acre parcel to the City, to be incorporated into the planned park along with the previously acquired 51.83 acres. In addition, a Partial Release of Mortgage, Assignment, Security Agreement and Fixture Filing and Assignment of Leases has been executed by Repimac One Lender, LLC.
RECOMMENDATION:
That the City Commission accept the Special Warranty Deed from Foundry Lakeside Station, III, LLC. and Partial Release of Mortgage, Assignment, Security Agreement and Fixture Filing and Assignment of Leases from Repimac One Lender, LLC.
FISCAL IMPACT:
Acceptance of the deed will remove the property from the tax rolls. Further construction costs and ongoing maintenance are yet to be determined.
Prepared by: Kenneth W. Buchman, City Attorney