HomeMy WebLinkAboutRES 2007-19 AMENDING THE DEVELOPMENT CONTRACT FOR HODGIN ACRES City of Corcoran
County of Hennepin
State ofMinnesota
RESOLUTION NO. 2007-19
Motion By: T h o m a s
Seconded By: G r a b o w s k i
RESOLUTION AMENDING THE DEVELOPMENT CONTRACT
FOR HODGIN ACRES
WHEREAS,the City of Corcoran approved the Final Plan and Development Contract for the
development referred to as Hodgin Acres, as submitted by Lecy Bros. Homes on December 14,
2006; and
WHEREAS,the Development Contract identifies that a Transportation Area Charge of$2,�0
per developable acre will be required to be paid by the Developer prior to the release of the final
plat; and
WHEREAS,the City of Corcoran is presently reviewing that area charge to deternune its nexus
and fairness to development within the City.
THEREFORE BE IT RESOLVED,that the Corcoran City Council hereby amend the
Development Contract with Hodgin Acres, per E�chibit A hereto attached.
VOTING AYE VOTING NAY
X Guenthner,Ken Guenthner,Ken
�Grabowski, Chuck Grabowski,Chuck
�Thomas, Ron Thomas,Ron_
X Jacobs, Paul dacobs, Paul
�Hudok, Christop6er Hudok,Christopher_
Whereupon, said Resolution is hereby declared passed
on this 22�day of March 2007.
��
Ken Guenthner,Mayor
ATT'ES •
,�/ �
ue Ve in,Acting City erk Ciry Sea1
1
� .
EXHIBIT A
AMENDMENT TO
DEVELOPMENT CONTRACT
Dated December 14, 2006
HODGINACRES
This is an AMENDMENT to the DEVELOPMENT AGREEMENT dated
December 14, 2006, by and between the CITY OF CORCORAN and LECY BROS
HOMES.
1. Paragraph 19 of the Development Agreement is hereby stricken and replaced with
the following:
TRANSPORTATION AREA CHARGE. This plat is subject to a transportation
area charge of$2,000 per developable acre. The area charge shall only apply to
the developable portion of the site south of County Road 10. The total area charge
is $50,356 (25.178 acres x $2,000). Prior to release of the fmal plat, the Developer
shall satisfy the amount of the area charge by submitting an irrevocable letter of
credit in the amount of$50,356 to the City in a form acceptable to the City. The
letter of credit shall remain in place for a period of one year from the date of
submission and shall be payable at the bank issuing the letter upon presentation by
the City, whether in person or by mail, of a signed statement evincing the
assessment of the charge. All costs associated with obtaining the letter of credit
shall be paid by the Developer.
2. Paragraph 23(D)(8)(k) of the Development Agreement is hereby stricken and
replaced with the following:
k) Provide an irrevocable letter of credit to the City for the Transportation Area
Charge in the amount of$2,000 per developable acre for the portion of the site
south of County Road 10. No charges will be required for Outlot A at this time
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because no development is planned at this time. Area Charges will be required
when Outlot A is developed.
3. Paragraph 28 of the Development Agreement is hereby stricken and replaced with
the following:
SUMMARY OF CASH REQUIREMENTS. The following is a summary of the
cash requirements under this Contact that must be furnished to the City at the time
of final plat approval:
Park Dedication $ 7,382
Transportation Area Charge (letter of credit) NA
Sanitary Sewer Area Charge NA
Watermain Storage Area Charge NA
Water Supply Area Charge NA
Stormwater Area Charge NA
TOTAL CASH REQUIREMENTS LEVIED: $ 7,382
All other terms in the original Development Agreement shall remain unchanged.
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' . -
CITY OF CORCORAN
BY:
Kenneth S. Guenthner, Mayor
(SEAL)
AND
Susan Vergin, City Administrator
DEVELOPER:
BY:
Its
STATE OF MINNESOTA )
) ss.
COUNTY OF HENNEPIN )
The foregoing instrument was acknowledged before me this day of ,
2007,by Kenneth S. Guenthner and by Susan Vergin, the Mayor and City Administrator of the
City of Corcoran, a Minnesota municipal corporation, on behalf of the corporation and pursuant
to the authority granted by its City Council.
Notary Public
STATE OF MINNESOTA )
) ss.
COUNTY OF HENNEPIN )
The foregoing instrument was acknowledged before me this day of ,
2007,by the of
Notary Public
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