Agenda - Council - 01/25/1994 - Laserfiche WebLink

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oorporatio~, all of Outlot A, Outlot B, Du~ot D, and Dutlot E (formerly the park in R99/te Pine Estates), subject to the sole condition ~hat said property be utilized for publJc recre.~tional purposes c~.~nsjsting of a golf course, to be opene~ for pl~y to the general u~blic as described by Exhibit C attached hereto. Even thoug~ the proposed golf course shall be open to the general r u3blic as ~escribed herein, the real property on which the golf course is iocated shall be_ subject to real property taxes, and not exempt therefrom by virtue of said golf course being forever open to the ~blic. ~e conveyance of said Outlots A, B, and D shall be made as soon as practical after any operational time periods as irequired by the City Charter or City ordinances, e~ to :the contingency noted in Article 4 below (see Exhibit sabj ~ ~ £ attached ~for form of restrictions to be imposed by City). e. ~2~A~99t for Park No~,ithstan~ing the provisions of article 3d ;.above, Developer shall cause to be_ placed into escrow the sum of ~$5100.00, which s~m shall be paid over to the City in tlne event that the City, at' its option, dete.-~mines to accept said payment. !!t is acknc~led.~ed by City .t,hat this sum represents ~_he ~--hOULnt of P~rk l~_nd dedication fee %~ich ~ou!d have been ~i~ ha~ a .Dark landl dedication fee been utilized in the platting of Dfnite Pine Estate~. City further a~knowledges, however, that it has been informed that RLr~' River Ei!ls, Inc. intends to ~ke a pro~sal to;the City, which proposal will be presented witloin 120 days after the filing of the plat, describing an alternative me~no.~ of p~oviding c~nsideration to the City for its conveyance of Outlot E~ However, it shall be solely the option of the City as to whether or not to accept said alternative method of