HomeMy WebLinkAbout2003-077 Council ResolutionCITY OF LINO LAKES
RESOLUTION NO. 03-77
RESOLUTION APPROVING AMENDMENT TO STONEYBROOK
DEVELOPMENT CONTRACT
WHEREAS, The City Council approved the preliminary plat of Stoneybrook on
August 26, 2002, and
WHEREAS, the City Council approved the Development Contract for Phase I of
Stoneybrook on October 14, 2002 (Resolution No 146), and
WHEREAS, in accordance with the approved Phasing Plan the Agreement
provides for a maximum of 52 lots to be final platted in 2002 and remaining Tots
to be final platted in 2003, and
WHEREAS, the Developer, Tollefson Development, Inc., is requesting an
amendment to the agreement to include phase II development, 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 amendment of the Development Contract with Tollefeson
Development, Inc., for Stoneybrook and authorizes the Mayor and City Clerk to
execute such agreement on behalf of the City.
Adopted by the Lino Lakes City Council this 27th day of May, 2003.
STAFF ORIGINATOR:
CITY COUNCIL
MEETING DATE:
TOPIC:
VOTE REQUIRED:
BACKGROUND:
AGENDA ITEM 7F
Michael Grochala
May 27, 2003
Consideration of Resolution No. 03 -77
Approving Amendment to Stoneybrook
Development Contract
Simple Majority
The City Council approved the preliminary plat of Stoneybrook on August 26,
2002 and the Development Contract for Phase I on October 14, 2002. The
approved Phasing Plan incorporated in the Development Contract stipulated that
a maximum of 52 lots could be final platted in 2002 and remaining lots in 2003.
In accordance with the contract Tollefeson Development, Inc., the Developer, is
requesting and amendment to the contract to incorporate Phase II development
and allow for public improvements to be constructed on the remainder of the
development. A final plat encompassing the entire 103 lot subdivision currently
be reviewed by staff. It is anticipated that this will be brought forward for council
approval at the June 9, City Council meeting.
The changes to the contract relate specifically to the increase in dollar amounts
required for the Letter of Credits to cover developer improvement costs, cost to
be assessed and cash escrows outlined in Attachment A and B of the contract.
Tollefeson Development, Inc., has reviewed the contract and is aware of the
conditions setforth.
RECOMMENDATION:
Staff recommends approval of the Development Contract.
ATTACHMENTS
1. Resolution No. 03 -77
2.
Development Contract.