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• <br />• <br />COUNCIL MINUTES OCTOBER 14, 2002 <br />COMMUNITY DEVELOPMENT DEPARTMENT REPORT <br />Consider Resolution No. 02 — 145, Approving JADT Addition Development Contract, Michael <br />Grochala — Community Development Director Grochala advised the City Council approved the <br />preliminary plat of JADT Addition on September 9, 2002. In accordance with the Subdivision <br />Ordinance and conditions of approval, staff has prepared a Development Contract for City Council <br />approval and execution. JADT Addition consists of four (4) commercial lots. <br />In addition to construction requirements the contract provides for the following: <br />1. Submittal by the developer of a Letter of Credit in the amount of $133,700.00 representing <br />35% percent of the development improvement costs to insure completion of the project in <br />accordance with the approved plans. <br />2. Deposit of a cash escrow in the amount of $40,685.68 to reimburse the City for costs incurred <br />by the City related to the development and improvement' of the site and developer <br />improvements. <br />JADT Development Group, LLP, the developer, has reviewed the agreement and is aware of the <br />conditions set forth. <br />Community Development Director Grochala noted the application asked for the addition of the <br />following language on page 3, item 4A1, <br />All construction and erosion control measures shall be done in accordance with best <br />management practices set forth by Rice Creek Watershed District and in accordance with <br />Minnesota State Statute 103.F.711 Subd. 3. <br />Community Development Director Grochala advised staff is recommending approval of the <br />development contract. <br />Mayor Bergeson inquired abou he number of leases that are signed on this project. Community <br />Development Director Grochala stated there is one lease that covers the construction on lot 4 for a <br />liquor store and coffee shop. The remaining three lots are not filled and the owner may sell them <br />outright. <br />Councilmember Carlson thanked and acknowledged staff for the language in the contract regarding <br />drainage. <br />Councilmember Carlson moved to adopt Resolution No. 02 — 145, as amended. Councilmember <br />O'Donnell seconded the motion. Motion carried unanimously. <br />Resolution No. 02 — 145 can be found in the City Clerk's office. <br />4 <br />