HomeMy WebLinkAbout09-134 Amend #4 Stemmer Ridge~~ PRj~ ~
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RESOLUTION 09-134
A RESOLUTION APPROVING AMENDMENT N0.4 TO THE STEMMER RIDGE
DEVELOPMENT CONTRACT
Motion By: Hedberg
Second By: Millar
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; anc
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, 2010.
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.
4 to the Development Contract for Stemmer Ridge.
PASSED AND ADOPTED THIS 5T" DAY OF OCTOBER 2009.
YES
NO
Hau en X Hau en
Erickson X Erickson
Hedber X Hedber
LeMair Absent LeMair
Millar X Millar
Frank oyl s, It Manager
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