HomeMy WebLinkAbout2003-186 Council ResolutionCITY OF LINO LAKES
RESOLUTION NO. 03-186
RESOLUTION APPROVING DEVELOPMENT AGREEMENT FOR GRADING, HAILEY
MANOR.
WHEREAS, the City Council approved the preliminary plat of Hailey Manor on September 8,
2003, and
WHEREAS, the Developer, Frank Feela, Inc., is requesting approval to commence grading of
such development to be known as Hailey Manor; 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 Frank Feela, Inc., for Hailey Manor Subdivision and authorizes the
Mayor and City Clerk to execute such agreement on behalf of the city.
111) Adopted by the Lino Lakes City Council this 27th day of October, 2003.
Ann J. Blair, City Clerk
L 1/l
J.
Ber eso ,Mayor
AGENDA ITEM 7D
STAFF ORIGINATOR: James E. Studenski, City Engineer
COUNCIL MEETING DATE: October 27, 2003
TOPIC: Resolution No. 03 - 186, Approving Development Agreement for
Grading, Hailey Manor
Vote Required: Simple Majority
BACKGROUND:
The City Council approved the preliminary plat of Hailey Manor on September 8,
2003. Frank Feela, Inc., the Developer, is now requesting approval to begin
grading for the Hailey Manor Development. Hailey Manor consists of four
existing residential Tots to be subdivided into 14 residential units.
In accordance with the preliminary plat approval and City policy staff has
prepared a Development Agreement for Grading. The agreement provides for
the following:
1. Submittal by the developer of a Letter of Credit in the amount of
$35,000.00 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 $17,500.00 to reimburse the
City for costs incurred by the City related to the development and
improvements of the site and developer improvements.
Frank Feela, 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 - 186, Approving Development Agreement for
Grading, Hailey Manor.
3. Not adopt Resolution Number 03 —186.
RECOMMENDATION:
Option No. 2 - Staff recommends that Resolution Number 03 - 186 be adopted.