07-08-09 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL JULY 8, 2009 its standards. The City Administrator again noted that given this particular area and the Market Place Pond, the 72-hour drawn down time will not have a major impact on the storm water drainage system. Mr. McGraw introduced the following resolution and moved its adoption: RESOLUTION NO. 2009-7-I SS -APPROVING THE CULVER'S INFILTRATION RATE AT A 72-HOUR DRAWN DOWN TIME FOR SUBSURFACT INFILTRATION OF STORM WATER AS RECOMMENDED SY THE CITY ENGINEER IN HIS REPORT DATED JULY8, 2009 The foregoing resolution was duly seconded by Boss. Ayes (4). Nays (1) Keis. Resolution declared adopted. EllA "fhe City Administrator reported that as part of the closing documents for AGREEMENT - the Culver's project, the City's )/conomic Development Authority will CULVERS need to act on an BDA Agreement with North Star Bank on Right to Cure. PROJECT Mr. Montour introduced the following resolution and moved its adoption: RESOL UTION NO. 2009-7--156 - TEMPORARIL YADJOURNING AS THE CITY COUNCIL AND CONVENING AS THE ECONOMIC DEVELOPMENT AUTHORITY T'he foregoing resolution was duly seconded by McGraw. Ayes (5). Nays (0). Resolution declared adopted. 'The Council convened as the BDA at 8:29 p.m. The City Administrator noted that there are extensive development agreements on the properties in question between the City and Sherman & Associates. As part of the transfer of Parcel 3 to Culver's, Culvers is assuming a few of the development agreements provisions from Sherman & Associates. In the event that the Culver's project is not completed, the EDA Agreement with North Star Bank gives the bank 180 days to cure the Culver's default before the City could take possession of the property. "The Administrator felt the chances that Culver's would default on the development agreement were remote, but indicated that should that occur, the City would likely be willing to work with the bank to get a project completed on the site. The Administrator reported that Culver's is planning to start construction on their project within two weeks and anticipates a November completion date.