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MINUTES <br />CITY COUNCIL <br />APRIL 12, 2006 <br />change was acceptable to him. The Administrator noted that for #32 the <br />Dayspring aCtorney wanted to reference landscaping rather than land <br />stabilization functions. The Administrator noted the suggested addition of <br />#35, which he found acceptable. <br />Kevin Von Riedel, Dayspring Development, noted the requirement for a <br />Letter of Credit in the amount of $1,168,000. Von Riedel stated that in <br />order to ensure that they can pay contractors on a regular basis over the <br />course of the project, he would ask the Council to consider one additional <br />letter of credit reduction over what is provided in the contract. <br />The City Administrator indicated that this is one of the larger letter of <br />credits that the City has required. He further indicated that reductions in <br />Che letter of credit require some processing on the part of City staff as well <br />as verification by the City Engineer that the work has been completed. <br />The Administrator felt Chat given the size of the letter of credit, it should <br />not be a problem to include one additional reduction. The issue will be the <br />timing of that reduction. Von Riedel suggested thaC the additional <br />reduction come at the point that grading is completed. The Administrator <br />suggested Chat grading be substantially done and retaining wall work <br />completed. <br />Mr. LaValle introduced the following resolution and moved its adoption: <br />RESOLUTION NO. 2006-4-88 -APPROVING THE DEVELOPMENT <br />AGREEMENT FOR THE PRESERVE AS DISCUSSED THIS <br />EVENING SUBJECT TO THE CITY ENGINEER'S REVIEW OF <br />THE MAGELLAN MIDSTREAM PARTNERS PIPELINE <br />LOWERING WITH REGARD TO IMPACT ON THE BALANCE OF <br />THE PUBLIC IMPROVEMENTS <br />The foregoing resolution was duly seconded by Montour. <br />Ayes (4) LaValle, Montour, Blesener, Keis. <br />Nays (1) Allan. Resolution declared adopted. <br />Allan noted that there was some grading of the site done last Tuesday <br />which resulted in mud on the City's streets. She further noted that there <br />was no protection provided for the storm sewer system. Von Riedel <br />replied thaC the builder for the project asked if he could place some extra <br />dirt on the property. Von Riedel reported that he informed the builder Chat <br />Che dirt could not be placed until the necessary permits were obtained. <br />However, the work was done prematurely. <br />Allan stated that she wants to ensure that the City's roads are kept clean <br />and the storm sewer system protected. <br />6 <br />