HomeMy WebLinkAbout2004-149 Council Resolution•
CITY OF LINO LAKES
RESOLUTION NO. 04 -149
RESOLUTION APPROVING DEVELOPMENT AGREEMENT FOR GRADING AND BRIDGE,
PHEASANT HILLS PRESERVE 12TH ADDITION.
WHEREAS, the City Council approved the preliminary plat of Pheasant Hills Preserve 12th
Addition on September 27, 2004, and
WHEREAS, the Developer, Ed Vaughan, is requesting approval to commence grading and
bridge work of such development to be known as Pheasant Hills Preserve 12th Addition; 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
Development Contract with Ed Vaughan, for Pheasant Hills Preserve 12th Addition and
he
authorizes the Mayor and City Clerk to execute such agreement on behalf of the city.
• Adopted by the Lino Lakes City Council this 12th day of October, 2004.
Ann J. lair, City Clerk
4411 —An A11
John ; Berg 'on, ayor
AGENDA ITEM 6Dii
STAFF ORIGINATOR: James E. Studenski, City Engineer
COUNCIL MEETING DATE: October 12, 2004
TOPIC: Resolution No. 04 -149, Approving Development Agreement for
Grading and Bridge, Pheasant Hills Preserve 12th Addition
Vote Required: Simple Majority
BACKGROUND:
The City Council approved the preliminary plat of Pheasant Hills Preserve 12th
Addition on September 27, 2004. Ed Vaughan, the Developer, is now requesting
approval to begin grading and bridge work for the Pheasant Hills Preserve 12th
Addition Development. Pheasant Hills Preserve 12th Addition consists of eight
residential Tots.
In accordance with the preliminary plat approval and City policy staff has
prepared a Development Agreement for Grading and Bridge. The agreement
provides for the following:
1. Submittal by the developer of a Letter of Credit in the amount of
$750,000.00 representing 150 percent of the development improvement
costs to insure completion of the project in accordance with the approved
plans.
2. Deposit of a cash escrow in the amount of $62,000.00 to reimburse the
City for costs incurred by the City related to the development and
improvements of the site and developer improvements.
Ed Vaughan has reviewed the contract and is aware of the conditions set forth.
OPTIONS:
1. Return to staff for further review.
2. Adopt Resolution Number 04 -149, Approving Development Agreement for
Grading and Bridge, Pheasant Hills Preserve 12th Addition.
3. Not adopt Resolution Number 04 -149.
RECOMMENDATION:
Option No. 2 - Staff recommends that Resolution Number 04 -149 be adopted.