08-25-14 Council Packet - Laserfiche WebLink

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DRAFT DEVELOPMENT CONTRACT & PLANNED UNIT DEVELOPMENT AGREEMENT Saddle Club THIS AGREEMENT made this day of , 2014, is by and between the City of Lino Lakes, whose address is 600 Town Center Parkway, Lino Lakes, Minnesota, 55014, a municipal corporation organized under the laws of the State of Minnesota, hereinafter referred to as the "City," and DuPont Holdings, LLC whose address is 1000 County Road E West, Suite 150, Shoreview, MN 55126, hereinafter referred to as the "Developer." WHEREAS, the Developer has received preliminary plat approval from the City Council by Resolution No. 14-15 for a plat of land within the corporate limits of the City known as Saddle Club, hereinafter called "Subdivision," as legally described in Attachment A; and WHEREAS, the development stage is Saddle Club First Addition. WHEREAS, the Developer requested a Site Grading Development Contract to complete site grading prior to the Final Plat of Saddle Club First Addition; and WHEREAS, the City Council approved the Site Grading Development Contract by Resolution No. 14-74; and WHEREAS, the Developer is to be responsible for the installation and financing of certain private improvements within the Subdivision; and WHEREAS, the City Subdivision Ordinance and Minnesota Statute sections 462.358 authorize the City to enter into a performance contract secured by cash escrow or other security to guarantee completion and payment of such improvements following final approval and recording of the final plat. NOW, THEREFORE, in consideration of the mutual promises of the parties made herein, IT IS AGREED BY AND BETWEEN THE PARTIES AS FOLLOWS: I. DEVELOPER IMPROVEMENTS a. Improvements to be installed by the Developer and financed by the Developer are hereinafter referred to as "Developer Improvements."