Agenda - Council - 05/27/1986 - Laserfiche WebLink

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DEVELOPMENT A(~ REEI~tEN T CITY OF ~NSEY ANOLA COUNTY~ MINNESOTA RIVER*$ BEND FLAZA PLANNED UNIT DEVELOPMENT Development Agreement by and between the City of Ramsey, Minnesota (City), and River's Bend Properties, a corporation organized under the laws of the State of Minnesota (Developer). WITNES SETH: WHEREAS, Developer is owner of certain real property situated in Anoka County, Minnesota, located in the City of Ramsey, the legal description of which real property is attached hereto as Exhibit "A"; and WHEREAS, the name of the proposed Planned Unit Development is RIVER'S BEND PLAZA, hereinafter referred to as "P.U.D."; and WHEREAS, Developer desires to effect the recording of the P.U.D. with the Anoka County Recorder, upon the execution and approval thereof by the City Council of the City of Ramsey, Minnesota. NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, it is agreed as follows: 1. ~!~_~.]~Q_~_. The parties acknowledge that the P.U.D. is submitted pursuant to City Code of the City of Ramsey, and specifically'submitted pursuant to the planned unit development section of said Code, and is the subject of a previous preliminary development plan on file and of record with the City of Ramsey, for which approval has been previously given by the City Council of the City of Ramsey. The parties further acknowledge that said planned unit development incorporates mixed commercial and service uses. 2. IMP]t0VEMENT$. Public improvements to be incorporated and constructed in conjunction with the P.U.D. include additional turn lanes on State Highway No. 47 as required, a storm water management plan, drainage easements as recommended by the City Engineer and approximately 600 feet of Xkimo Street N.W. The developer shall be responsible for the expense associated with the construction of these improvements. a. CONSTRUCTION BY DEVELOPER. Developer shall guarantee that the construction of the necessary improvements cited above shall be in accordance with the standards of the City of Ramsey, as found in the City Code, and as recommended by the City Engineer. Pursuant to this guarantee, Developer shall post security in a form approved by the City Attorney guaranteeing that construction in conformance with City standards shall be completed on or before July 1, 1987. Said security shall be in the amount of $ , which amount represents 150% of the estimated cost of constructing the improvements as determined by the City Engineer. Ail construction as described in this Agreement shall be at the sole expense of the Developer.