HomeMy WebLinkAbout09-090 Bluffs Building PermitsP RL..
O~ ~~~` .
~ ° ' ~ ~'
~ ~v
'~ `.
u ~~ ~ ;
~INNESO~Q'_>' ,
4646 Dakota Street S.E.
Prior Lake, MN 55372-1714
RESOLUTION 09-090
A RESOLUTION APPROVING THE CONDITIONS FOR ISSUING BUILDING PERMITS AT THE
BLUFFS OF NORTHWOOD MEADOWS
Motion By: Erickson Second By: Hedberg
WHEREAS Manley Land Development's Letter of Credit (LOC) for the Bluffs of Northwood
Meadows is no longer valid and therefore Manley is in default of the Development
Contract; and
WHEREAS, Lakeland Construction and Finance the issuer of the Letter of Credit is insolvent and in
receivership; and
WHEREAS, As provided by the Development Contract, the City as a remedy has frozen the
issuance of building permits for the 64 remaining lots owned by Manley; and
WHEREAS, In the best interest of the taxpayers of Prior Lake the City has agreed to "Conditions
Precedent to the City of Prior Lake Accepting, Processing or Issuing Any Building
Permit For Bluffs of Northwood Meadows; and
WHEREAS, The conditions set forth in the document dated May 26, 2009 between Manley and the
City best protect the City's interests.
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. Staff is directed to enforce the conditions on the 64 lots identified as part of the February 9, 2009
letter.
3. Staff is directed to utilize the escrow funds to complete the improvements as stipulated in the
conditions.
PASSED AND ADOPTED THIS 15th DAY OF JUNE 2009.
YES
NO
Hau en X Hau en
Erickson X Erickson
Hedber X Hedber
LeMair X LeMair
Millar X Millar
j~
Frank B I ity Manager
M:\COUNCIL\RESOLUTI\2009\09-090 Bluffs Building P~(S't yc~~&-ofpriorlake.com
Phone 952.447.9800 /Fax 952.447.4245