HomeMy WebLinkAbout2003-100 Council ResolutionCITY OF LINO LAKES
RESOLUTION NO. 03-100
RESOLUTION AUTHORIZING EXECUTION OF DEVELOPMENT AGREEMENT, CENTURY
FARM NORTH.
WHEREAS, the City Council approved the preliminary plat of Century Farm North on April 28,
2003, and a grading only development agreement on May 27, 2003, 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 Contract with Century Farm Development, Inc., for Century Farm North
Subdivision and authorizes the Mayor and City Clerk to execute such agreement on behalf of
the city.
Adopted by the Lino Lakes City Council this 14th day of July, 2003.
AGENDA ITEM 7Ci
STAFF ORIGINATOR: James E. Studenski, City Engineer
COUNCIL MEETING DATE: July 14, 2003
TOPIC: Resolution No 03 -100, Authorizing Execution of Development
Agreement, Century Farm North
Vote Required: Simple Majority
BACKGROUND:
The City Council approved the preliminary plat of Century Farm North on April
28, 2003 and authorized execution of a grading only development agreement on
May 27, 2003. Century Farm North Addition consists of 249 units of residential
development.
In accordance with the preliminary plat approval and City policy, staff has
prepared a Development Agreement the Century Farm North Development. The
agreement provides for the following:
1. Submittal by the developer of a Letter of representing 150 percent of the
development improvement costs to insure completion of the project in
accordance with the approved plans.
Deposit of a cash escrow to reimburse the City for costs incurred by the
City related to the development and improvements of the site and
developer improvements.
Century Farm Development, Inc. has reviewed the contract and is aware of the
conditions set forth.
OPTIONS:
1. Return to staff for further review.
2. Adopt Resolution Number 03 -100, Authorizing Execution of Development
Agreement, Century Farm North.
3. Not adopt Resolution Number 03 —100.
RECOMMENDATION:
Option No 2 Staff recommends that Resolution Number 03 - 100 be adopted.