HomeMy WebLinkAbout2002-145 Council ResolutionCITY OF LINO LAKES
RESOLUTION NO. 02-145
RESOLUTION APPROVING JADT ADDITION
DEVELOPMENT CONTRACT
WHEREAS, The City Council approved the preliminary plat of JADT Addition on
September 9, 2002, and
WHEREAS, the Developer, JADT Development Group, LLC is requesting approval to
commence construction of such 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
to insure satisfactory completion of improvements prior to commencement of site
construcution activities and final plat approval.
NOW, THEREFORE BE IT RESOLVED THAT the Lino Lakes City Council approves
the Development Contract with JADT Development Group, LLC for JADT Addition 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 • . y of October, 2002.
ATTEST:
n
Ann B , City Clerk
eson, ayor
STAFF ORIGINATOR:
CITY COUNCIL
MEETING DATE:
TOPIC:
BACKGROUND:
AGENDA ITEM 7A
Michael Grochala
October 14, 2002
Consideration of Resolution No. 02-145
Approving JADT Addition Development
Contract
The City Council approved the preliminary plat of JADT Addition on September
9, 2002. In accordance with the Subdivision Ordinance and conditions of
approval, staff has prepared a Development Contract for City Council approval
and execution. JADT Addition consists of four (4) commercial lots.
In addition to construction requirements the contract provides for the following:
1. Submittal by the developer of a Letter of Credit in the amount of
$133,700.00 representing 35% percent of the development improvement
costs to insure completion of the project in accordance with the approved
plans.
Deposit of a cash escrow in the amount of $40,685.68 to reimburse the
City for costs incurred by the City related to the development and
improvement of the site and developer improvements.
JADT Development Group, LLP, the developer, has reviewed the agreement and
is aware of the conditions setforth.
RECOMMENDATION:
Staff recommends approval of the Development Contract.
ATTACHMENTS
1. Resolution No. 02-145
2. Development Contract