Agenda Packets - 2008/10/27 - Laserfiche WebLink

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2 DEVELOPMENT AGREEMENT THIS AGREEMENT is made this ________ day of __________, 2008, by and between the CITY OF MOUNDS VIEW, a Minnesota municipal corporation (the “City”), and MOUNDS VIEW SELECT PROPERTIES, L.L.C., a Minnesota Limited Liability Company, (the “Developer”). Recitals A. The Developer is the fee owner of certain real estate located in Ramsey County, Minnesota, legally described as Lot 49, Auditor’s Subdivision Number 89, Subject to a 5 foot strip easement along the rear line for public utility use, Ramsey County, Minnesota (PIN 06-30-23-31-0030) And, That part of Lot 48, Auditors Subdivision Number 89 lying South of the North 300 feet front and rear thereof, except that portion taken for the highway right of way purposes. Subject to restrictions contained in Document Number 238161, Ramsey County, Minnesota (PIN 06-30-23-31-0029) And, The South 150 feet of the North 300 feet, front and rear of Lot 48, Auditors Subdivision Number 89, including any portion of any street of alley adjacent thereto, vacated or to be vacated, together with all road privileges, easements and appurtenances thereto attached, Ramsey County, Minnesota (PIN 06-30-23-31-0028) (hereinafter referred to as the “Property”). B. The Developer shall construct on the Property improvements consistent with the final site plans date-stamped September 18, 2008, and approved by the City Council on September 22, 2008. C. The Developer has requested that the City approve a major subdivision for the property. D. As a prerequisite to the approval of the subdivision, the City Council requires the Developer to agree to the construction of certain improvements pursuant to this Agreement for the orderly development of the Property. E. The Developer is financially responsible for the construction and installation costs of certain utilities and roadway, as required by City ordinance, referred to as the “Improvements”.