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JG provided history of development in LE. 2007 development agmt <br />devised, but no new developments. Been a few years. City Admin, <br />CFinDir, Dir Plan, Eng, , Snyder, as well as Public Works Super <br />reviewed it. <br />Explained what the deve agmt was and its purpose. Developer gets <br />reassurance on proposed developments not being affected by changes <br />in code through time. City benefit is security and clear expectations… <br />Security requirements. City have right to finish project. <br />P35 <br />P27 responsibility for costs. <br />Provides <br />Dev comm. High capital costs vs lower. <br />Opened for qs. Bloyer asked about Irrevocable LOC. JG explained how <br />it works. <br />Snyder explained… what if LOC expires? Pull the line. Finance director <br />either gets the money or the bank extends. <br />Whose responsibility is issues such as grading deficiencies? JG explains <br />that it is the dev. Does the agmt cover this? The process should <br />include checks, including inspection and building permit process. <br />Should not happen again. The process should have caught this, but <br />may have not been followed in the past as thoroughly as it should. <br /> <br />II. Cash Flowing Utility Fees & Charges – Tammy <br />Omdahl, Northland Securities <br /> <br />Tammy Ohmdahl gave presentation of the Northland sec was hired last <br />year and now asked for an update due to dev/growth changes. <br />Projections are different. Demand for expansion is driving the new <br />projections. <br />Staff has been conservative. Projections are half of what staff believes <br />will occur. This is to cash flow. <br />The differences between the various types of lines were explained. <br />Explanations were given to what a lateral line was and what it did.