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03/13/2006 Council Packet (2)
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03/13/2006 Council Packet (2)
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City Council
Council Document Type
Council Packet
Meeting Date
03/13/2006
Council Meeting Type
Regular
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DEVELOPMENT CONTRACT <br />Millers Crossroads 3rd Addition <br />THIS AGREEMENT made this 13th day of March 2006, 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 BruRaeman Properties, LLC whose address is 3564 Rollingview Drive. White Bear <br />Lake, Minnesota, 55110, 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 Millers Crossroads 3`d <br />Addition, hereinafter called "Subdivision ", said land is legally described to -wit <br />Outlot C, MILLERS CROSSROADS, and Outlot J MILLERS CROSSROADS 2D ADDITION <br />according to the recorded plats on file and of record in the Office of the County Recorders <br />Office, Anoka County, Minnesota. <br />WHEREAS, the Developer requested that the City construct and finance certain <br />improvements to service 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, and <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 />
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