Agenda - Council - 04/27/1993 - Laserfiche WebLink

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Extension of trunk sewer is necessary to service lots in the northwest corner of the plat. The Developer has agreed to extend the trunk sewer and will be given credit for the cost of same against the amount of n'unk sewer and water charges due on the plat. The installation of watermain includes about 3,800 feet of 12 inch watermain. The developer will be credited the difference in cost between I2 inch and fi inch watem-min, which is considered the standard lateral size. The ~ading and drainage plan provides for transmission of stom~ water and replacing. 14 acres of wetland. These plans have been forwarded to the Lower Rum River Water Management Organization for review and permitting. The development agTeement provides that in the event the LRRWMO requires additional drainage easements subsequent to the recording of the plat, the developer will be responsible for providing those easements in separ:tte, recordabte documents. Park dedication will consist of constructing 8 foot wide pedestrian walkways running north and south through the plat to connect with existing park areas in the district. A majority of the walkway would be adjacent to Hwy. #47 and the developer will be constructing a 6 foot landscaped bem~ to buffer the walkway and residential uses from Hwy. #47. The developer will receive park dedication credit for all eligible trail property in accordance with City Code and the value of the constructed improvements. As noted above, the remaining park dedication due would be satisfied by the value of the constructed improvements to complete the trail segment through Juniper Woods to 153rd. The proposal for Amber Ridge has progressed thus far on tile understanding that the installation of the improvements (sewer, water, storm sewer, streets) would be privately financed with no City participation. City Code establishes the methods by which the developer must provide financial guarantees for the various elements of a subdivision development for both private and public projects, tn the case of a private project, the financial guarantee requirements for Stage I (sewer, water, storm sewer and streets) is that the developer places a financial guarantee with the City in an amount equal to 125% of the City Engineer's estimated costs for the improvements. The financial guarantee must be in the form of cash or a letter of credit. The development agreement for Amber Ridge has been drafted accordingly. However, the developers of Amber Ridge have expressed concern that the financial guarantee requirement is unreasonably excessive to the point of making a project prohibitive. The City Staff has met with the developers on two occasions regarding this issue and will be meeting with the City Attorney on Friday, April 23. Staff will have more information available at the Council meeting regarding financial guarantees. Recommendation: City Staff recommends final plat approval contingent upon agreement being reached with regard to financial guarantees re~luired for tile Stage I improvements. Council Action: Motion to: Adopt Resolution #93°04- g-ranting final plat approval to Amber Ridge contingent upon compliance with City Staff review letter dated April 21, 199~, resolution of necessary financial guarantees, and the developer entering into a development agreement with the Cit.',,. Review Checklist: 4/27/93 City Administrator Finance Officer City Engineer Zoning Administrator Parks and Utilities Coordinator Cit.',, Atton~ey