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CITY OF CENTERVILLE REQUEST FOR COUNCIL ACTION Agenda Item # Department: Requested Council Meeting Date: October 13, 2021 City Administrator / City Attorney VIII.2 TITLE OF ISSUE: Amended Development Agreement for the "Rehbein Commercial" Plat BACKGROUND AND SUPPLEMENTAL INFORMATION: This Development Agreement guides the physical construction and future development on the Rehbein Commerical Plat. (property north of Main St.) Generally, this document governs: - construction of public roads and infrastructure over the entire Plat. - warranties to ensure the quality construction of public infrastructure. - payment of various development on construction fees. These fees will be paid in advance of construction of each commercial parcel. - financial security paid by the Developer to ensure completion of necessary requirements for development. The previously approved a Developer's Agreement for this plat. The attached amended agreement clarifies some terminology and allows for a combination of bond and letter of credit for the securities. COST AND SOURCE(S) OF FUNDING: Paid by the Developer REQUESTED COUNCIL ACTION: Motion to approve the attached Amended Development Agreement. For ClerkÓs Use: SUPPORTED DOCUMENTS ATTACHED Motion By: ____________________________________ Resolution Ordinance Contract Minutes Plan Map Second By: ____________________________________ Vote Record: Aye Nay _____ _____ Other (specify) ____________ _____ _____ Love _____ _____ _______________________________________________________________ _____ _____ Koski _____ _____ Montain _______________________________________________________________ Administration Department Use: Refer to: _________________________________ Consent Tabled Until: ______________________________ Regular Other: ___________________________________