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<br /> <br />CITY COUNCIL <br />AGENDA ITEM 6 A i <br /> <br /> <br />STAFF ORIGINATOR : Michael Grochala, Community Development Director <br /> <br />MEETING DATE : January 28 , 20 13 <br /> <br />TOPIC : Consider Resolution 13 -11 , Accepting Petition and Waiver <br />Agreement from CM Properties 14, LLP , Otter Lake Road <br />Im provement Project <br /> <br />VOTE REQUIRED : 3/5 Vote Required <br /> <br />INTRODUCTION <br /> <br />Staff is requesting Council acceptance of a petition and waiver agreement from CM Properties 14, <br />LLP, agreeing to assessments and right -of -way dedication for the Otter Lake Road improveme nt <br />project . <br /> <br />BACKGROUND <br /> <br />CM Properties 14, LLP is the own er of land abutting the Otter Lake Road improvement project. <br />The owner originally submitted a petition requesting the proposed improvements in March of 2011. <br /> The agreement allows for the City to le vy against the s ubject p roperty the lesser of $374,500 or <br />50% of the actual cost of the Improvement Project plu s $80,000. The $80,000 is intended to cover <br />a portion of any gap between available funding and project costs. The agreement provides for <br />repaym ent of $80,000 to CM Properties in the form of a trunk utility credit when public trunk <br />utilities are extended across the balance of the property. The agreement also provides for the <br />dedication, at no cost to the city, permanent right -of -way and tempora ry easements necessary for the <br />construction of the improvements on their property. <br /> <br />RECOMMENDATION <br /> <br />Staff recomme nds adoption of Resolution 13 -11 . <br /> <br />ATTACHMENTS <br /> <br />1. Resolution 13 -11 <br />