HomeMy WebLinkAbout2005-096 Council Resolution•
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AGENDA ITEM 6Bi
STAFF ORIGINATOR: James E. Studenski, City Engineer
COUNCIL MEETING DATE: July 25, 2005
TOPIC: Resolution No. 05 — 96, Approving Development Agreement, Lots
1 -7, Block 1 and Lots 1 -3, Block 2, Oakwood View Subdivision.
Vote Required: Simple Majority
BACKGROUND:
The City Council authorized a preliminary plat and Planned Unit Development
approval on April 14, 2004 to provide for a proposed development titled
Oakwood View. Oakwood View provides for the construction of 10 single family
detached home Tots on the north part of the property.
In accordance with the preliminary plat approval and City policy, staff has
prepared a Development Agreement for the Single Family Lots. The agreement
provides for the following:
1. Submittal by the developer of a Letter of Credit in the amount of
$310,000.00 representing 150 percent of the development improvement
costs and a Letter of Credit in the amount of $20,500.00 representing 35
percent of the City improvement costs to insure completion of the project
in accordance with the approved plans.
2. Deposit of a cash escrow in the amount of $61,000.00 to reimburse the
City for costs incurred by the City related to the development and
improvements of the site and developer improvements.
Rice Creek Evangelical Covenant Church has reviewed the agreement and is
aware of the conditions set forth.
OPTIONS:
1. Return to staff for further review.
2. Adopt Resolution Number 05 — 96, Approving Development Agreement, Lots
1 -7, Block 1 and Lots 1 -3, Block 2, Oakwood View Subdivision.
RECOMMENDATION:
Option No. 2 - Staff recommends that Resolution Number 05 — 96 be adopted.
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CITY OF LINO LAKES
RESOLUTION NO. 05 -96
RESOLUTION APPROVING DEVELOPMENT AGREEMENT, LOTS 1 -7, BLOCK 1 AND
LOTS 1 -3, BLOCK 2, OAKWOOD VIEW SUBDIVISION.
WHEREAS, the City Council issued a preliminary plat and Planned Unit Development approval
for Oakwood View on April 14, 2004, and
WHEREAS, the City's subdivision ordinance and conditions of approval require the execution of
a development contract, between the Developer and the City of Lino Lakes, prior to
commencement of site construction activities and final plat approval to insure satisfactory
completion of public improvements.
NOW, THEREFORE, BE IT RESOLVED THAT the Lino Lakes City Council approves the
Development Agreement with Rice Creek Evangelical Covenant Church for Oakwood View and
authorizes the Mayor and City Clerk to execute such agreement on behalf of the City.
Adopted by the Lino Lakes City Council this 25th day of July, 2005.
Ann J.
John . Berges , Moor