1996-06-10 - CC Packet - Laserfiche WebLink

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DEVELOPMENT CONTRACT CLEARWATER MEADOWS (City Installed Improvements) THIS AGREEMENT made this 10th day of June, 1996, is by and between the City of Centerville, whose address is 1880 Main Street, Centerville, Mn 55038, a municipal corporation organized under the law of the State of Minnesota, hereinafter referred to as the "City", and K -G Development, Inc., a Minnesota corporation, whose address is 7526 - 4th Avenue, Lino Lakes, MN 55014, hereinafter referred to as the "Developer ". WHEREAS, the Developer has received approval from the City Council for a preliminary plat of land within the corporate limits of the City known as Clearwater Meadows, hereinafter called "Subdivision'; and WHEREAS, the Developer has requested that the City construct and finance certain improvements to serve the plat; and WHEREAS, the Developer is to be responsible for the installation and financing of certain private improvements within the plat; and WHEREAS, the Developer has petitioned the City of Centerville to undertake certain public improvements within the plat; and WHEREAS, said City Subdivision Ordinance and Minnesota Statute 462,358 authorize the City to enter into a performance contract secured by a bond, cash escrow or other security to guarantee completion and payment of such improvements following final approval and recording of final plat; WHEREAS, Minnesota Statute 429 provides a method for assessing the cost of City installed improvements to the benefited property; and WHEREAS, the City of Centerville has adopted an interim policy for a storm water charge for development within the City, and the City of Centerville is in the process of developing a final storm water fee structure for new developments. NOW, THEREFORE, in consideration of the mutual promises of the parties made herein, IT IS AGREED BY AND BETWEEN THE PARTIES HERETO: 1. DEVELOPER'S IMPROVEMENTS. The Developer will construct and install at Developer's expense the general improvement construction according to Ordinance #8, Section 38.01 and other improvements specific to the development herein set forth. A. Cost of Developer's Improvements, description: 1. Street names and traffic signs approximately 7 signs @ $250 /each $ 1,750.00 (2 Stop Signs - 3 Dead End Signs - 2 Street Signs) 2. Establish monuments at lot corners 36 lots x $250 $ 9,000.00 3. Street sweeping 3 each @ $600 $ 1,800.00 4. Signage and barricades 3 each for one year x $200 /each $ 600.00 K- GDEV.WPS Page 1