HomeMy WebLinkAbout08-126 Amend No 3 Stemmer Ridge
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4646 Dakota Street S.E.
Prior Lake, MN 5~~ 72 - ~Z14 ~~~_.,,_ _ ..~~~..~.____~_~ '_~__""'_'''''~_~___'
RESOLUTION 08-126
A RESOLUTION APPROVING AMENDMENT NO.3 TO THE STEMMER RIDGE
DEVELOPMENT CONTRACT
Motion By: Millar
Second By: Hedberg
WHEREAS, On June 6, 2005, the Prior Lake City Council approved the Development Contract for
Stemmer Ridge with Arcon Development; and
WHEREAS, On August 1, 2005, the City of Prior Lake approved the assignment of the
Development Contract to Toll Brothers, Inc. from Arcon Development; and
WHEREAS, Toll Brothers has completed the improvements in accordance with the Development
Contract with the exception of Phase 2; and
WHEREAS, Toll Brothers has provided the City with a separate letter of credit for Phase 2; and
WHEREAS, The Developer has requested an extension for the completion of the Phase 2
improvements of one year to December 31, 2009.
NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE,
MINNESOTA as follows:
1. The recitals set forth above are incorporated herein.
2. The Mayor and City Manager are authorized to execute on the City's behalf Amendment NO.3 to
the Development Contract for Stemmer Ridge.
PASSED AND ADOPTED THIS 15TH DAY OF SEPTEMBER 2008.
Haugen X Hauaen
Erickson Absent Erickson
Hedbera X Hedbera
LeMair X LeMair
Millar X Millar
YES
NO
M:\COUNCIL\RESOLUTI\2008\08-126 Amend No 3 Stemmer Ridge.doc
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