Agenda - Council - 05/14/2002 - Laserfiche WebLink

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The Northwest quarter of the Southwest quarter of Section 25, Township 32, Range 25, except that portion taken for CSAH #5, Anoka County, Minnesota. PARCEL 3: The Northeast quarter of the Southeast quarter of Section 26, Township 32, Range 25, Anoka County, Minnesota. - or upon recording - Lots 1-10, Block 2; Lots 1-19, Block 3; Lots 1-27, Block 4; Lots 1-35, Block 5; Lots 1-23, Block 6, Lots 1-I6, Block 7; Lots 1-44, Block 8; Lot 1, Block 9; and Outlots A and B. (the ."Subject Property"); and WHEREAS, on May' 14, 2002, pursuant to Resolution No. 02- , the CITY approved the final plat of the Subject Property which plat is known as Tlt~. PONDS (the "Plat"), which approval is contingent on certain requirements, including the DEVELOPER and the CITY entering into this Agreement; and WHEREAS, the final plat for the Subject Property conforms to the preliminary plat for The Ponds approved by the CITY on February 12, 2002; and WHEREAS, the CITY requires certain improvements to be constructed within the Plat, which improvements are defined as Stage I and Stage II Improvements in the City Code; and WHEREAS, the DEVELOPER intends to cause its required improvements in the Plat to be constructed without financial participation by the' CITY. WHEREAS, the DEVELOPER desires to' construct the Stage I and Stage II improvements, except for those Stage II Improvements constructed by the CITY; and WHEREAS,. no expenditure of CITY funds will be made until the relevant City Code escrow requirements have been completed by the DEVELOPER. NOW, THEREFORE, the CITY and DEVELOPER agree as follows: SECTION I STAGE I IMPROVEMENTS AND FINANCIAL GUARANTEES City Code Compliance. The CITY approves the Plat conditioned on the DEVELOPER developing the Plat in accordance with the applicable provisions of City Code, Section 9.50, entitled Subdivision. The Ponds Subdivision Development Agreement Page 2 of 13 -147-