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Lino Lakes Commercial Development <br />Final Plat <br />Page 2 <br />Title Information <br />JADT Development Group is in the process of acquiring title for part of the <br />property included in the plat. As a condition of plat approval all necessary title <br />information, as required by the City Attomey, must be submitted for review before <br />release of the final plat. <br />Development Agreement <br />Staff is in the process of preparing the development contract. Since the City is <br />constructing the necessary public improvements and no development is <br />proposed at this time for Outlot B the agreement will deal primarily with the Lake <br />Drive/Apollo Drive improvement assessments. The McDonald's site <br />improvements (Lot 1, Block 1) will be covered by a separate site development <br />agreement. Execution of the development contract by the Developer is a <br />condition of final plat approval. <br />Apollo Drive Acquisition <br />On October 22, 2001 the City entered into a purchase agreement with JADT <br />Development Group to acquire approximately 1.6 acres of land to be used, in <br />part, for the easterly extension of Apollo Drive. The closing for the property is <br />scheduled for Tuesday, November 27, 2001. Conveyance of the property, so <br />described, to the City is included as a condition of final plat approval. <br />OPTIONS <br />1. Adopt Resolution 01-187 approving the final plat of Lino Lakes Commercial <br />Development with the conditions setforth therein. <br />2. Return to staff with direction. <br />RECOMMENDATION <br />Option 1. <br />ATTACHMENTS <br />1. Resolution No. 187 <br />2. Final Plat <br />