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MEMO TO: MAYOR & COUNCILMEMBERS <br /> FROM: MARY SAARION, DIRECTOR <br /> DATE: JANUARY 30, 1991 <br /> SUBJECT: EVEREST DEVELOPMENT,LTD PARK DEDICATION PAYMENT AGREEMENT <br /> As per Councilmember Wuori's request I have reviewed the development agreement with <br /> Everest Development, LTD regarding the payment specifications for the park dedication <br /> fees. The agreement portion is on the backside of this page. As you can see, the <br /> agreement states that payment need only be received by the 31st of December of each year. <br /> Currently all payments have been paid for the year 1990. It has been my practice to <br /> remind the companies of their payment obligations in November of each year if their <br /> payments have not been received yet for that same year. The payment, provided in one <br /> lump sum of$12,500 in earlier years, now must be requested of the six individual parcels. <br /> It has become more difficult to secure the park dedication fees. A copy of the list of parcels <br /> and payments is attached. Staff will continue to keep track of payments to ensure that <br /> • park dedication fees due are received at the end of each year. <br /> i <br />