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MEMO TO: Clerk -Administrator. & City Council <br />FROM: Building Inspector <br />DATE: November 2, 1983 1#1 <br />RE: Substantial completion of Development Agrecment <br />78-25 with'Mounds View Development Co. #1 <br />All the improvements included under Development Agreement 78-25 <br />with Mounds View Development Company N] have been completed <br />and approved. To date development and completion of all but <br />one lot has occured with the last lot under construction. <br />The developer has requested release of his development security <br />because he has substantially completed the terms of the <br />Development Agreement subject to the last lot which presently <br />being built by another party. Based on your previous action <br />with the Groveland Terrace subdivision and Development Agreement, <br />staff would recommend approval of substantial completion and <br />release of the Development securities. <br />RECOMMENDATION: Direct staff to draft the necessary resolution <br />of approval of completion of Development Agreement 78-25 for <br />your next meeting on 11-14-83. <br />SAR/mb <br />Attachments: letter of request <br />&C-�k /�' A <br />November 3, 1983 <br />City of Mounds View <br />I request the return of my security development funds for <br />Mounds View Development Company Number 1. The project is complete. <br />Kenneth Thornton <br />President <br />Mounds View Development Company <br />