Agenda - Council - 07/12/2016 - Laserfiche WebLink

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lour Misiion. To work together to reiposibty grow our community, and to provide quality, coat -effective, and efficient government ierrlcas. CC Regular Session 7. 1. Meeting Date: 07/12/2016 By: Tim Gladhill, Community Development Information Title: Adopt Resolution # 16-07-131 Approving Development Agreement for Station; Case of D.R. Horton, Inc. Purpose/Background: NOTE: This case was revised on Friday, July 8. Most amendments to the Development Agreement are technical in nature, and supported by City Staff. However, new to the case is a request from D.R. Horton for reimbursement in the amount of $37,883.50 for previous Stage I Improvement obligations related to the original Ramsey Town Center Master Development Agreement. The purpose of this case is to approve the Development Agreement for Station, a Major Plat for a seventy-seven (77) unit townhome development by D.R. Horton. The City Council approved the Final Plat for this project on June 28, 2016. The approval was contingent upon the Developer entering into a Development Agreement outlining construction and surety requirements. The draft Development Agreement is now ready for final consideration. Notification: Notification not required. Observations/Alternatives: There are a few items on this development that are impacted by the previous Master Development Agreement for Ramsey Town Center and associated Secondary Development Agreements with secondary developers at the time, such as D.R. Horton. The Master Development Agreement (since repealed) placed the obligation for 146th Avenue (which is lacking a final lift) and area public sidewalks (not completed on Ramsey Parkway, Peridot Street, and 146th Avenue) on RTC, LLC. A Secondary Development Agreement with D.R. Horton reiterated these obligations as those of RTC, LLC. The Master Development Agreement also included a Letter of Credit related to required improvements. Said Letter of Credit has since been exhausted through other obligations left uncompleted by RTC, LLC. Furthermore, these improvements now fall under public rights -of -way and public ownership. Finally, D.R. Horton has produced a letter from the former City Attorney outlining a cost -share agreement where the City would agree to constructing two (2) of the three (3) public sidewalks. Due to the lack of financial security to complete previous RTC, LLC obligations associated with this Development, there are arguments on both sides on which party is responsible for completing these improvements. D.R. Horton has taken the position that these obligations now fall on the City due to the original Master Development Agreement, as the original Letter of Credit was intended to cover these obligations. In order to keep the project moving forward, D.R. Horton has offered to cost -share in the completion of these improvements. D.R. Horton proposes to complete the improvements, and be reimbursed for a portion of the cost.