10/14/2002 Council Minutes - Laserfiche WebLink

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• • COUNCIL MINUTES OCTOBER 14, 2002 Consider Resolution No. 01 — 146, Approving Stoneybrook Development Contract, Michael Grochala — Community Development Director Grochala advised the City Council approved the preliminary plat of Stoneybrook on August 26, 2002. Tollefeson Development, Inc., the Developer, is now requesting approval to begin construction of improvements for the first phase of the development, to be known as Stoneybrook First Addition. Stoneybrook First Addition consists of 52 single family residential lots. In accordance with the preliminary plat approval and City policy staff has prepared a Development Agreement. The agreement provides for the following: 1. Submittal by the developer of a Letter of Credit in the amount of $2,410,900.00 representing 150% percent of the development improvement costs to insure completion of the project in accordance with the approved plans. 2. Submittal by the developer of a Letter of Credit in the amount of $102,900.00 representing 35% of the costs to be assessed for the project. 3. Deposit of a cash escrow in the amount of $267,750.00 to reimburse the City for costs incurred by the City related to the development and improvement of; the site and developer improvements. 4. Section II.A.11, specifically states that the developer will be responsible for street and storm sewer maintenance until issuance of all Certificates of Occupancy for the development. Tollefeson Development, Inc., has reviewed the contract and is aware of the conditions set forth. Community Development Director Grochala advisedtaff did try to address the erosion control in the language of the agreement. The developer has asked for clarification regarding that issue. He referred to page 5, item 11 and 12 and recommend - following change: The Developer shall promptly clear -rand debris, within public right-of-ways, and drainage and utility easements, resulting from construction by the Developer, its purchasers, builders and contractors within five (5ydays after notification by the City. The Developer shall be responsible for all necessary street and storm sewer maintenance including street sweeping, storm sewer and cleaning, ditch cleaning and pond dredging, resulting from the accumulation of said dirt and debris, until all Certificates of Occupancy are issued. Warning signs shall be placed when hazards develop in streets to prevent the public from traveling on same and directing attention to detours. If and when the streets become impassable, such streets shall be barricaded and closed. The developer shall maintain a smooth, hard driving surface and adequate drainage on all temporary streets. Community Development Director Grochala advised staff is recommending approval of the agreement. Councilmember Reinert moved to adopt Resolution No. 01 — 146, as amended. Councilmember Dahl seconded the motion. Motion carried unanimously. Resolution No. 01 — 146 can be found in the City Clerk's office. 5