2014-096 Council Resolution - Laserfiche WebLink

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DRAFT DEVELOPMENT CONTRACT Talan Ridge 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 Avenger Home Solutions, Inc. whose address is 3128 Priest Lane, Mound, MN 55364, hereinafter referred to as the "Developer." WHEREAS, the Developer has received preliminary plat approval from the City Council by Resolution No. 14-34 for a plat of land within the corporate limits of the City known as Talan Ridge, hereinafter called "Subdivision," as shown in Attachment A and is legally described as: East 290.00 feet of Lots 3 and 4, Block 2 Arthur E. Thom Acres. WHEREAS, the Developer is splitting the above described land into three lots with one existing residence and two additional residence, which will be legally described to -wit. Lot 1, 2 and 3, Block 1, Talan Ridge WHEREAS, service to the subdivision has been previously made; 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 fmanced by the Developer are hereinafter referred to as "Developer Improvements." b. Improvements to be installed by the City and financed by the Developer are hereinafter referred to as "City Improvements."