Agenda - Council - 03/14/2006 - Laserfiche WebLink

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Cloud Drive, LLP, a Minnesota limited liability partnership, fee owner of the following described property situated in the County of Anoka, State of Minnesota, to wit: Lot 1, Bock 3, Now and Then Estates, Anoka County, Minnesota -or upon recording- Lots I-11, Block 1, Lots 1-33, Block 2, Lots 1-3, Block 3, Lots 1-2, Block 4, and Outlots A, B, C, and D, BKOOtCFIELD FIRST ADDITION, Anoka County, Minnesota (the "Subject Property"); and WHEREAS, on March I4, 2006, pursuant to Resolution No. 06-03- , the CITY approved the final plat of the Subject Property, whict~ pla[js known as BROOKFIELD FIRST ADDITION (the "Plat"), wh/ch approval is contingent on certain requirements, including the DEVELOPER and the CITY entering into this Agreement; and WHEREAS, the final plat for the Subject Property conforms to the preliminary plat for Brookfield Addition; and WHEREAS, the DEVELOPER has received approval from the Metropolitan Council of the request for Comprehensive Plan Amendment to change the Subject Property's land use designation in the City's Comprehensive Plan from Rural Developing to Low Density Residential; and WHEREAS, the CITY requires certain improvements to be constructed within the Plat, which improvements are defined as Stage I and Stage II Improvements in the City Code; and WHEREAS, the DEVELOPER intends to cause its required improvements in the Plat to be constructed with financial participation by the CITY; and WHEREAS, the DEVELOPER desires to construct the Stage I and Stage II improvements, except for those Stage ii Improvements constructed by the CITY; and WHEREAS, no expenditure of CITY funds will be made until the relevant City Code escrow requirements have been completed by the DEVELOPER. NOW, THEREFORE, the CITY and DEVELOPER agree as follows: SECTION I STAGE I IMPROVEMENTS AND FINANCIAL GUARANTEES -162- BrookfieldFirstAddition DevelopmentAgreement Page3of14