CCP 07-31-2007 sp mtg - Laserfiche WebLink

Home Browse Search

• The City shall be responsible for submitting the Permit Application for the pond to the Watershed District by August 2, 2007. • The City shall obtain an easement from Parcel B across Parcel C to the Property. If the City is not able to provide the easement by September 1, 2007, the City shall pay for the cost to install a temporary water storage facility. • The Redeveloper shall construct the pond and provide a storm water pipe sufficient to accommodate the Property from the pond through Parcel C. The Redeveloper shall fund $48,000.00 towards the cost of the pond and pipe, the City shall reimburse the Redeveloper for all additional costs. • The City shall pay for maintenance of the pond and pipe. Miller Dump Closure: The Redeveloper acknowledges that the City will be facilitating the closure of the Miller dump that is south of the Property. The dump closure may commence in 2008 or 2009 and be completed within 9 to 12 months. Venting systems and institutional controls will be necessary for the redevelopment of the Property and the Option Property. Public Improvements: The Redeveloper shall pay for and construct the following public improvements to serve the Property and Option Property: • Extension of sanitary sewer from 14th Street NW and 1St Avenue NW within the Ring Road. • Extension of water mains from 14th Street NW and 1St Avenue NW within the Ring Road. • Construction of the new Ring Road (curb, gutter, and street lights) to the southernmost boundary of the Property. • The reconstruction or upgrade of 14th St. N.W. east of 1St Avenue NW, including the extension of water mains, sanitary sewer and storm sewer. • The storm water pond shall be handled as discussed above. The City will provide preliminary engineering (i.e., alignment and profile for utility and public streets). Redeveloper shall design and construct the Public Improvements per City approval. At closing, the City shall escrow $300,000 from the Purchase Price as the estimated cost of the Public Improvements. The Redeveloper shall be reimbursed for all costs associated with the design and construction of the Public Improvements from the escrow. Such reimbursement shall be paid in monthly draws based on work completed in the prior month. Any excess escrowed funds will be refunded to the City. If the cost of the Public Improvements exceeds the escrowed amount, the shortfall will be reimbursed by the City.