Agenda - Council - 12/28/2006 - Laserfiche WebLink

Home

tbatImprovements"l. Clty Wlll commence eminent rinm~.n .,r.,..o~.a;,,,~~ +,... _ ~L _ .^ v^ v~.~,c,uaaar~ «, a~uiiir a ~lte necessary additional right of wav and will begin deci~n work fnr the [`72 ~ ~ ~ Improvements after Developer has closed on the purchase of the Development Property from City and recorded the Final Plat or otherwise dedicated the portion of the right of wav necessary for the CR 116 Improvements that is located onthe Development Pro erty to City If Developer subiect to Unavoidable Delay Citv will substantiallv com lete the CR 116 Work on or before If Develo er closes on the purchase of the Development Property from Citv and records the Final Plat or otherwise dedicates the portion of the right of way necessary for the CR 11_6 Improvements that is located on the Development Property to Citv on or before July 15.2007. City will, subject to Unavoidable Delay, Ell-substantially complete the CR 116 We~l~e~-er-bt~fea„ .Improvements on or before October 1 2008 Substantial completion shall not include installation of the final wear course or l~~~l which activities Citv may wait to complete until maior construction activities on property the CR 116 Improvements serve is complete If Developer does not close on the purchase_ of the Development Property from Citv or does not record the Final Plat or otherwise dedicate the portion of the right of wav necessary for the CR 116 Improvements that is located on the Development Property to Citv on or before July 15.2007. City will establish a new substantial completion date for the CR 116 Improvements after Developer has done so and the Parties will amend this A reement to_reflect the new substantial completion date 1Does this Agreement need to provide for Develo er's timely completion of rough grading of the right of way or areas adjacent to the right of way by a date certain as a condition of City's obligation to " substantiallv complete on or before 10/01!08?1 11.2 q-B~~Special Assessments for CR 116 Work. Developer has petitioned City for the CR 116 IfImprovements. Minnesota Statutes, Chapter 429, City's Charter and City's Ordinances authorize City to assess all or a portion of the cost of the CR 116 "Improvements against the property the CR 116 ~er7k~ed-e..= th~~ a '' ~'' ~ '~ ~'~~~--Improvements benefit. Developer agrees the CR 116 '1fImprovements will benefit the Development Property. • ... C~ will specially assess the cost of the CR 116 l~Improvements against all the properties the Citv Council determines the CR 116 Improvements benefit, including the Development Property. City will assess $ 1.150.000 001 of the cost of the CR 116 1fImprovement against the Development Property. City will allocate the assessments in among the Parcels in the manner set forth. on the attached Exhibit -B. The special assessments will be payable in installments over a term of 20 years. Interest will accrue on the unpaid balance of the deferred special assessment at _ a rate to be determined by the City Council when the Citv Council levies the assessments. Developer consents to City's levying of a special assessment against the Development Property in the amount of $ L1.150.000.001 >,ursuant to Minnesota Statutes, Chapter 429, the City Charter and the City Ordinances, and hereby waives any and all procedural and substantive objections to a special assessment in that amount, including, but not limited to, notice and hearing requirements, claims that the Development Property or any part thereof, does not 1974417vdoc V2 to Vi 12/18/06 11 -136-