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G.10 Approve Reduction in Letter of Credit for Meadows of Hugo 1st Addition <br /> <br />The Meadows at Hugo 1st Addition has had significant work completed to date and Centra Homes, <br />LLC is requesting a reduction in the letter of credit. The current letter of credit for the 1st Addition <br />is in the amount of $1,468,192. Staff has inspected the work completed to date and recommends <br />reducing the letter of credit by $1,096,439 based on the value of work remaining to be completed. <br />The remaining value of the letter of credit will be in the amount of $371,753, which is 10% of the <br />original amount. Staff recommends Council approve the reduction in the letter of credit for <br />Meadows of Hugo, 1st Addition. <br /> <br />I.1 Oneka Parkway Improvement Project Assessment Hearing <br /> <br />On July 5, 2022, the City of Hugo awarded a construction contract for the completion of the 2022 <br />Oneka Parkway Improvements Project. At the September 5, 2022 regular Council meeting, the <br />Council adopted a resolution declaring the costs to be assessed, ordered the preparation of the <br />proposed assessment roll for the 2022 Oneka Parkway Improvements Project and scheduled the <br />assessment hearing on the proposed assessments for October 3, 2022. The Notice of Assessment <br />Hearing has been published in the official newspaper and mailed to the owners of each parcel <br />described in the assessment roll at least two weeks prior to the hearing. As part of the assessment <br />hearing, staff will provide a PowerPoint presentation identifying the improvements, costs and <br />detail payment options. Staff recommends the Mayor and Council hold the hearing on proposed <br />assessment, hear all comments for those requesting to be heard, and consider approval of the <br />resolution adopting assessments for the 2022 Oneka Parkway Improvements Project after closing <br />the hearing. Staff has prepared a resolution adopting the assessments for the 2022 Oneka Parkway <br />Improvements Project in accordance with the requirement of state statutes Chapter 429 for <br />assessments to benefitting properties. A copy of the assessment roll is attached for your reference. <br /> <br />K.1 Downtown Hugo Preliminary Plat and PUD <br /> <br />Dennis Properties, LLC, is requesting approval of a preliminary plat and planned unit development <br />(PUD) to subdivide and master plan the property to allow 5 buildings for a total of approximately <br />63,000 square feet. The PUD general plan is proposed for the entire 4.2 acres of the property and <br />will replace the previous PUD General Plan that was approved in 2020. At its September 8, 2022, <br />meeting the Planning Commission held a public hearing and considered the request. There were <br />two people that spoke during the public hearing with questions and concern on parking, <br />stormwater management, and shoreland regulation flexibility. The Planning Commission agreed <br />the project met the requirements to approve the applications. The Planning Commission <br />unanimously recommended approval of the preliminary plat and PUD, subject to the conditions <br />listed in the resolutions. Staff recommends the Council approve the resolutions approving the <br />request of the preliminary plat and PUD for the Downtown Hugo project. <br /> <br />N.1 Reminder-Liberty Academy Ribbon Cutting Friday, October 7, 2022 <br /> <br />Staff would like to remind Council they have scheduled a meeting to attend the Liberty Classical <br />Academy Ribbon Cutting Celebration on Friday, October 7, 2022, at 10158 122nd Street North <br />(former Withrow School) beginning at 12:45 p.m. <br /> <br />N.2 Reminder - Fire Department Open House Saturday, October 8, 2022