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Resolution 23-087
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Resolution 23-087
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Last modified
8/29/2023 4:22:49 PM
Creation date
8/29/2023 4:22:43 PM
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City Council
Council Document Type
Resolutions
Meeting Date
08/28/2023
Council Meeting Type
Regular
Resolution #
23-87
Resolution Title
Approving Milestones Addition Development Agreement
Resolution Date Passed
08/28/2023
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Milestones Addition <br /> Development Agreement <br /> August 28, 2023 <br /> d. Reduction of Security.The Developer may request reduction of the Letter of Credit <br /> or cash deposit based on prepayment or the value of the completed improvements <br /> at the time of the requested reduction. <br /> 11. Warranty. The Developer warrants all utility work required to be performed by it against <br /> poor material and faulty workmanship for a period of two years after its completion and <br /> acceptance by the City. All new streets shall be warranted by the developer for a period <br /> of one year from the time the final inspection of the street is completed and accepted <br /> by the City Council. All trees,grass and sod shall be warranted to be alive,of good quality <br /> and disease free for 12 months after planting. Prior to final acceptance of the Developer <br /> Improvements the City shall require a Surety Bond or Cash Escrow to cover the warranty <br /> provisions of this Agreement. The amount shall be 20%of the original cost of construction <br /> identify in Exhibit B. <br /> 12. Dedication. The Developer shall dedicate to the City, at no cost to the City, any <br /> permanent or temporary easements that may be necessary for the construction and <br /> installation of the Developer Improvements.All such easements required by the City <br /> shall be in writing, in recordable form, containing such terms and conditions as the City <br /> shall determine. <br /> 13. Ownership of Improvements. Upon completion and City acceptance of the work and <br /> construction required by this Agreement,the public improvements lying within public <br /> rights-of-way and easements shall become City property without further notice or <br /> action unless the improvements are to be deemed private infrastructure. <br /> 14. Recording and Release. The Developer agrees that the terms of this Development <br /> Agreement shall be a covenant on any and all property included in the Subdivision. The <br /> Developer agrees that the City shall have the right to record a copy of this Development <br /> Agreement with the Anoka County Recorder to give notice to future purchasers and <br /> owners. This shall be recorded against the Subdivision described on Page 1. <br /> 15. Escrow for City's Costs. <br /> a. The Developer agrees to establish a non-interest bearing escrow account with <br /> the City in an amount determined by the City Administrator or their designee for <br /> the payment of all costs incurred by the City related to the development of the <br /> Subdivision including, but not limited to,the following (See Exhibit B for <br /> breakdown of costs): <br /> i. Planning/ Review <br /> ii. Administration -3% of Developer [CITY] Improvement Costs <br /> iii. City Engineering and Legal <br /> page 6 <br />
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