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07-10-2023 City Council Packet
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07-10-2023 City Council Packet
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City Council
Council Document Type
Council Packet
Meeting Date
07/10/2023
Council Meeting Type
Regular
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Bluebill Ponds 2nd Addition <br />Development Agreement <br />July 10, 2023 <br /> page 9 <br />17. Assessment of Charges and Waiver of Rights. <br />a. In consideration of the construction of City Improvements listed in Section 7 and <br />/or provision of sewer, water and storm water services, the Developer agrees <br />that the costs of City Improvements together with Trunk Sewer Unit Charge, <br />Trunk Water Unit Charge and the Surface Water Management Area Charge <br />(collectively, “the Charges”) may be assessed against the Subdivision parcels. <br />The Developer hereby waives any and all procedural and substantive objections <br />to the special assessments, including notice and hearing requirements, any claim <br />that the assessments exceed the benefit to the properties, and any right to <br />appeal. <br />b. Unless the Developer pays the entire balance owed for the Charges <br />contemporaneously with the execution of this Agreement, the Developer shall <br />provide to the City a cash escrow or irrevocable letter of credit in an amount <br />equal to 35% of the total assessments for the Charges as estimated by the City <br />Engineer (see Exhibit B). The letter of credit shall be in a form, and from a bank, <br />as approved by the City. The letter of credit or cash escrow may be used by the <br />City upon default by Developer in the payment of special assessments. The cash <br />escrow or letter of credit shall remain in place throughout the term of the special <br />assessments. The letter of credit may not be terminated without the City’s <br />written consent. <br />c. Developer, its heirs, successors or assigns, agrees that within 30 days after the <br />date of sale of a lot, the Developer, its heirs, successors or assigns, at its own <br />cost and expense, shall pay the entire unpaid charges assessed or to be assessed <br />under this Agreement against such property. <br />d. If a certificate of occupancy is issued before the special assessments have been <br />levied, the Developer, its heirs, successors or assigns shall pay the City the sum <br />of cash equal to 120% of the Engineer's estimate of the special assessments for <br />such Charges that would be levied against the property. Upon such payment the <br />City shall issue a certificate showing the assessments are paid in full. <br />Notwithstanding the issuance of said certificate, the Developer shall be liable to <br />the City for any deficiency and the City shall pay the Developer any surplus <br />arising from the payment based upon such estimate. <br />e. Acceleration of Special Assessments upon Default. In the event the Developer <br />violates any of the covenants, conditions or agreements herein, violates any <br />ordinance, rule or regulation of the City, County of Anoka, State of Minnesota or <br />other governmental entity having jurisdiction over the plat or development, or <br />fails to pay when due any installment of any special assessment levied pursuant <br />to this agreement, or any interest thereon, the City at its option, in addition to its <br />rights and remedies hereunder, after 10 days written notice to the Developer,
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