Laserfiche WebLink
DEVELOPMENT CONTRACT <br />Angie's Acres <br />THIS AGREEMENT made this 13th day of June, 2005, is by and between the City <br />of Lino Lakes, whose address is 600 Town Center Parkway, Lino Lakes, Minnesota, 55014, a <br />municipal corporation organized under the laws of the State of Minnesota, hereinafter referred to as <br />the "City ", and A and J Properties, LLC whose address is 120 Green Briar Drive, Lino Lakes, <br />Minnesota 55014 hereinafter referred to as the "Developer ". <br />WHEREAS, the Developer has received preliminary plat approval from the City <br />Council for a plat of land within the corporate limits of the City known as Angie's Acres, <br />hereinafter called "Subdivision ", said land is legally described to -wit <br />Lot 15, Block 1, ULMER'S RICE LAKE ADDITION, according to the recorded plat thereof, <br />Anoka County, Minnesota. <br />WHEREAS, the City has constructed and financed certain improvements to service <br />the subdivision; and <br />WHEREAS, the Developer is to be responsible for the installation and financing of <br />certain private improvements within the subdivision; and <br />WHEREAS, Minnesota Statute 429 provides a method for assessing the cost of City <br />installed improvements to the benefited property. <br />WHEREAS, the City Subdivision Ordinance and Minnesota Statute 462.358 <br />authorize the City to enter into a performance contract secured by cash escrow or other security to <br />guarantee completion and payment of such improvements following final approval and recording of <br />final plat; and <br />