04-12-2006 Council Agenda - Laserfiche WebLink

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MAYOR Bill Blesener COUNCIL Jim LaValle Rick Montour Barbara Allan John Reis 515 Little Canada Road, Little Canada, MN 55117 -1600 ADMINISTRATOR (651) 766 -4029 / FAX: (651) 766 -4048 Joel R. Ranson www. ci.little- canada. mn. us MEMORANDUM TO: Mayor Blesener & Members of the City Council FROM: Joel Hanson, City Administrator DATE: April 7, 2006 RE: The Preserve Development Agreement Attached is the proposed development agreement with Dayspring Development, Inc. involving the plat of The Preserve. The agreement follows our standard format with notable modifications as follows: • Developer will deed his interests in the wetland area to the City after recording of the plat and then take whatever tax benefits accrue as a result of the gift. The City will also collect our standard park charge per lot. • Insurance limits have been increased to $5,000,000 for property damage and per occurrence for liability coverage. (This is up from the $1,000,000 previously required.) The increase is reflective of standard industry limits and will apply to future development agreements. • Developer will be granted a building permit for Lot 1, Block 1 for a model home prior to the substantial completion of improvements. No occupancy of this structure can occur until the improvements are substantially complete. • Developer is preparing restrictive covenants that protect the wetland no disturb zones. • Another covenant is required acknowledging the consent of future property owners to the possible construction of pedestrian trails within the development and including the wetland area. (This is by virtue of the resolution approving the final plat. All of those requirements are made part of this agreement by reference.) • Pond plantings must be approved the Ramsey/Washington Metro Watershed District and City Staff. • Further documentation of pipeline lowering process is still required before construction may commence. The City is reserving the right to modify other approvals depending on what impacts staff feels the lowering could have on the balance of the plat relative to other planned improvements. • We are allowing for a letter of credit reduction of $125,000 after the completion of the pipeline lowering. Subject to any comments by the City Attorney and any concerns expressed by the Developer, staff recommends approval as presented. cc: Kevin VonRiedel 1