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CASE <br /> <br /> DEVELOPMENT AGREEMENTS <br />TAX INCREMENT FINANCING DISTRICT NO. 5 <br />By: Sandra Ashley Helling, Finance Officer <br /> <br />Background: <br /> <br />~&climinary Plats have been approved as follows: <br /> <br /> No. of Lots <br />Cedar Hills 114 <br />Chestnut Hills 100 <br />Windemere Woods ~2 <br /> 266 <br /> <br />Date Approved: <br />July 10, 1990 <br />May 22, 1990 <br />September 27, 1988 <br /> <br />These plats are located within Development District No. 1, Tax Increment Financing District 4/5 <br />(created and approved on April 24, 1990). Development will occur under a four phase Phasing <br />Plan. <br /> <br />On many occasions the developers of the above plats met with our former City Administrator and <br />members of our consulting staff to discuss requirements of and finalization of Development <br />Agreements that would provide for substantial aid and assistance in the financing of public <br />development costs in the Development District. These agreements are now basically in final form; <br />however, a few clerical changes need to be made and one Exhibit is pending an Agreement <br />between the developers. <br /> <br />Due to statutory requirements for the Tax Increment Financing District, these Agreements must be <br />executed by June 1, 1991. Ordinarily, we would not present this case without the final signed <br />Agreements attached, but we are operating under a tight time line. Attached are copies of the <br />Agreements before these minor modifications. Staff plans to have the final signed Agreements for <br />presentation at the meeting this evening.. <br /> <br />The Developers are' <br /> <br />Cedar Hills <br />Chestnut Hills <br />Windemere Woods <br /> <br />M.G. Astelford Company <br />Good Value Homes <br />Sweet Little Deal, Allen L. Koenig and Alice M. Koenig <br /> <br />The Agreements state the City will construct Stage I Improvements (collectively known as the <br />"Public Improvements") as follows: <br /> Trunk Sanitary Sewer (including subtrunks) <br /> Trunk Watermain <br /> Lateral Sanitary Sewer <br /> Lateral Watermain <br /> Lateral Storm Sewer <br /> Streets, as designated in the final Plat <br /> Concrete curbs and gutters <br /> Trallways, as designated in the f'mal Plat <br /> Park Improvements, as designated in plans <br /> approved by the City Engineer <br /> <br /> <br />