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• <br />• <br />• <br />STAFF ORIGINATOR: <br />CITY COUNCIL <br />MEETING DATE: <br />TOPIC: <br />VOTE REQUIRED: <br />BACKGROUND: <br />AGENDA ITEM 7A (ii) <br />Michael Grochala <br />April 14, 2003 <br />Consideration of Resolution <br />Approving Dairy Queen Site <br />Performance Agreement <br />Hospitality Group) <br />Simple Majority <br />No. 03 -47 <br />Improvement <br />(Frauenshuh <br />The City Council is considering approval of the Site and Building Plans for the <br />Dairy Queen Chill & Grill, with conditions per Resolution No. 03 -46 on April 14, <br />2003. <br />In accordance with the Site and Building Plan approvals staff has prepared a <br />Site Improvement Performance Agreement. The agreement provides for the <br />following: <br />1. Submittal by the developer of a Letter of Credit representing thirty -five <br />(35) percent of the site improvement costs to insure completion of the <br />project in accordance with the approved plans. <br />2. Deposit of a cash escrow to reimburse the City for costs incurred by the <br />City related to the development and improvement of the site and <br />developer improvements. <br />The developer has reviewed the agreement and is aware of the conditions <br />setforth. <br />RECOMMENDATION: <br />Staff is recommending approval of Resolution No. 03 -47 approving the Site <br />Performance Agreement. <br />ATTACHMENTS <br />1. Resolution No. 03 -47 <br />2. Site Performance Agreement <br />