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2006-047 Council Resolution
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2006-047 Council Resolution
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9/16/2014 11:16:04 AM
Creation date
9/16/2014 11:03:49 AM
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City Council
Council Document Type
Master List Resolution
Meeting Date
03/27/2006
Council Meeting Type
Regular
Resolution #
06-047
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• <br />AGENDA ITEM 6Ai <br />STAFF ORIGINATOR: James E. Studenski, City Engineer <br />COUNCIL MEETING DATE: March 27, 2006 <br />TOPIC: Resolution No. 06 — 47, Approving Development Contract, Millers <br />Crossroads 3rd Addition <br />Vote Required: Simple Majority <br />BACKGROUND: <br />The City Council approved a Preliminary Plat for Miller's Crossroads on <br />September 22, 2003. The Final Plat for Miller's Crossroads 1st Addition was <br />approved by the City Council on February 23, 2004 and the Final Plat for Miller's <br />Crossroads 2nd Addition was approved by the City Council on January 24, 2005. <br />Miller's Crossroads 3rd Addition provides for the construction of 32 residential <br />units on a 2.7 Acre parcel of property near the intersection of Birch Street and <br />Hodgson Road. <br />In accordance with the preliminary plat approval and City policy, staff has <br />prepared a Development Contract. The contract provides for the following: <br />1. A Letter of Credit submitted by the developer for the development <br />• <br />improvement costs is not required for this development, since the <br />improvements were installed during the previous phase. <br />2. Submittal by the developer of a Letter of Credit in the amount of <br />$40,000.00 representing 35 percent of the City improvement costs to <br />insure the payment of assessments for this project. <br />3. Deposit of a cash escrow in the amount of $95,000.00 to reimburse the <br />City for costs incurred by the City related to the development and <br />improvements of the site. <br />Bruggeman Properties LLC, has reviewed the contract and are aware of the <br />conditions set forth. <br />OPTIONS: <br />1. Return to staff for further review. <br />2. Adopt Resolution Number 06 — 47, approving Development Contract for <br />Millers Crossroads 3rd Addition. <br />RECOMMENDATION: <br />Option No. 2 - Staff recommends that Resolution Number 06 — 47 be approved. <br />
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