HomeMy WebLinkAbout10-080 Amend Stemmer Ridge Development Contract4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 10-080
A RESOLUTION APPROVING AMENDMENT N0.5 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; 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, 2011.
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. 5 to the
Development Contract for Stemmer Ridge.
PASSED AND ADOPTED THIS 7TH DAY OF SEPTEMBER 2010.
YES
NO
M ser X M ser
Erickson X Erickson
Hedber X Hedber
Keene X Keene
Millar X Millar
Frank Bo es ity anager
Phone 952.447.9800 /Fax 952.447.4245 / www.ctyofpriortake.com