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Minut~ of Regular Council Meeting February 22, 1982' i~ (m) 125% bonding or Letter of Credit is not applicable if developer does not construct improvements; does not object if bonding is based on site grading only. 6) p.8 - 9(d) 1) and 2) would like deleted, if not customary procedure, Council concurred 7) p,10 (e). Laughinghouse said he did not feel this pro- vision is desirable. Lynden said it is a standard pro- vision from a mortgage note. Council suggested that (e) include whatever is considered necessary and concurred that (f) and (g) be deleted; not Village policy. 8) p, 11, Lynden will re-word paragraph 6. Final Plat Approval, It was noted that the Final Plat has been approved with certain contingencies. . Laughinghouse said he doesn't like the 6 year payment of special assessments, but is probably "stuck" with it; will waive right to contest amount of assessments only within the Arden Oaks plat; feels the agreement needs more discussion; will discuss it with Village Attorney and Village Engineer; cannot sign it as written; feels the Agreement is self-enforceable - recording it is super- fluous (7. page 11); wants time to think on provision 7.; would like provision 8. simplified, listing specific documentation. Action was deferred to the March 8th meeting; Lynden and Laughing- house to, work out an amended agreement draft for Council's con- sideration. Feasibility - Improvement No. 81-5, Royal Hills Developer Marcel Eibensteiner said he has been doing some in-depth thinking; will pay for the street (Royal Lane extended to Floral Drive) if the street will be considered as satisfsction of the Royal Hills park dedication for the road construction, and if park dedication is not considered to be satisfied, he wants to retain the right to challenge park dedication and assessments (will waive this right if park dedication is satisfied by the road construc- tion). It was noted that the water loop will go through as proposed, whether the street is completed or not. Also noted was approval of the Royal Hills plat did not include a provision for waiver of the park dedication. ' Eibens~~!~,aid he wants to keep the project going; will pay for the str~t; wn~ it comes to the park dedication, hopes the Council ~ will be lenient. After discussion, Eibensteiner agreed to draft an Agreement for Attorney Lynden's approval and subsequent Council consideration. Comments from the Audience: It was queried why the proposed road is to be 34' in width, while Floral Drive is only 28' wide. Answer - 34' pavement width is standard by current City code. . It was asked that a chain link fence be installerl slong the park road to protect children. Answer - Other parks have roads without fences. PUBLIC HEARINGS: Revised Use of Federal Revenue Sharing Monies (6:30 p,m.) Mayor Woodburn opened the public hearing at 8:55, and Clerk Admin- istrator McNiesh verified that the Notice of Hearing was published in the New Brighton Bulletin on February 4, 1962. -2-