HomeMy WebLinkAboutItem 06.gJuly 29, 2015 Item No.
SILVARUM
AMENDMENT TO DEVELOPMENT CONTRACT
August 3, 2015 City Council Meeting
Proposed Action
Staff recommends adoption of the following motion: Move to approve the Amendment to
Development Contract - Silvarum.
Passage of this motion will result in amending specified terms of the development contract.
Overview
The Amended Silvarum Development Contract includes the collection of a cash escrow for
future watermain improvements along Judicial Road. Watermain will not extend to the
Silvarum north plat boundary with construction of the Silvarum public improvements in an
effort to maximize watermain design capabilities in the future. The Developer will provide a
$6,000 cash escrow for the portion of the future watermain improvements that will be
adjacent to the Silvarum plat.
Primary Issues to Consider
• When will the future watermain improvements be constructed? Future watermain
improvements along Judicial Road will likely occur when the properties north of the
Silvarum subdivision develop (current designated land use is Permanent Rural) or
when Judicial Road is reconstructed.
Supporting Information
• Amendment to Development Contract - Silvarum
_ .
Financial Impact: None Budgeted:
Related Documents (CIP, ERP, etc.):
Community Values: Good Value for Public Services
N/A Source:
(reserved for recording information)
AMENDMENT TO DEVELOPMENT CONTRACT
SIL VAR UM
THIS AMENDMENT TO DEVELOPMENT CONTRACT ("Amendment") is made this day
of , 2015, by and between the CITY OF LAKEVILLE, a Minnesota municipal corporation
("City"), and ENCORE DEVELOPMENT, LLC, a Minnesota limited liability company (the "Developer")
1. The Development Contract dated September 15, 2014, and filed for record with the Dakota
County Recorder on March 27, 2015, as Document No. 3058665 for the plat of Silvarum (the
"Development Contract") shall remain in full force and effect except as specifically amended herein.
2. Paragraph 21 of the Development Contract is amended to read as follows:
21. WATERMAIN. Development of Silvarum includes the extension of watermain.
Twelve inch watermain will be extended along Judicial Road and eight inch watermain will be extended
along Linch Path from existing eight inch watermain to provide water service to the subdivision. The
watermain along Judicial Road will be constructed to serve Lots 5 through 8, Block 1, but will not be
extended to the north plat boundary in order to reduce the amount of significant tree removal on City
property. Prior to release of this Amendment for recording, the Developer shall pay a cash fee of $6,000 for
the future extension of the twelve inch watermain to the north plat boundary.
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The Developer shall receive a credit for the cost difference between the twelve inch watermain and
eight inch watermain in Judicial Road. The credit will be applied to the Developer's cash fees and is
calculated as follows:
$28,390.00 - $17,416.00 = $10,974.00
12 -inch Watermain 8 -inch Watermain Credit to Developer's
Construction Cost Construction Cost Cash Fees
The Developer shall receive a $3,453.20 credit to the cash fees for installing sewer and water services to
the property located at 16562 Linch Path (Jackson).
3. Except as specifically provided herein, the Development Contract remain unchanged and in
full force and effect. Capitalized terms not otherwise defined herein shall have the meanings ascribed to
them in the Development Contract.
IN WITNESS WHEREOF, the parties have caused this Amendment to be executed this
of , 2015.
[The remainder of this page has been intentionally left blank.
Signature pages follow.]
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day
CITY OF LAKEVILLE
M
(SEAL)
AND
STATE OF MINNESOTA )
) ss.
COUNTY OF DAKOTA )
Matt Little, Mayor
Charlene Friedges, City Clerk
The foregoing instrument was acknowledged before me this day of ,
2015, by Matt Little and by Charlene Friedges, the Mayor and City Clerk of the City of Lakeville, a
Minnesota municipal corporation, on behalf of the corporation and pursuant to the authority granted by its
City Council.
NOTARY PUBLIC
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DEVELOPER:
ENCORE DEVELOPMENT, LLC
BY:
. 73:;���s
STATE OF MINNESOTA )
)ss.
COUNTY OF DAKOTA )
The foregoing instrument was acknowledged before me this :21 day of .-)4 4-
2015, by LAW tN C . the of
Encore DeveTo_pment, LLC, a Minnesota limited liability company, on behalf of said company.
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DRAFTED BY:
CAMPBELL, KNUTSON
Professional Association
Grand Oak Office Center 1
860 Blue Gentian Road, Suite 290
Eagan, Minnesota 55121
Telephone: 651-452-5000
AMP:cjh
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