HomeMy WebLinkAbout13-053 Repay CJF Holdings for Development Agreement
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 13-053
A RESOLUTION AUTHORIZING THE MAYOR AND CITY MANAGER TO EXECUTE AMENDMENT NO.2
TO THE DEVELOPER’S AGREEMENT WITH CJF HOLDINGS LLC
Motion By: Morton Second By: Soukup
WHEREAS, On May 19, 2008, the Prior Lake City Council approved a Development Contract with CJF
Holdings; and
WHEREAS, On Oct. 19, 2009, the Prior Lake City Council approved Amendment No. 1 to the
th
Development Contract with CJF Holdings; and
WHEREAS, CJF Holdings has completed the improvements in accordance with the Development
Contract; and
WHEREAS, As part of the project the Developer completed certain improvements to be reimbursed by
the City as connection fees are collected in accordance to the Development Contract with
a balance of $115,000
WHEREAS, The Developer is requesting early reimbursement for those improvements at a discounted
rate in the amount of $104,100.00; and
NOWTHEREFORE, 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. 2 to
the Development Contract with CJF Holdings, LLC.
3.The City is authorized to reimburse $104,100.00 to CJF Holdings LLC for the sanitary sewer and
watermain from Industrial Circle to Welcome Avenue.
4.The reimbursement shall be paid from the Water Fund Account #601-49400-530.
PASSED AND ADOPTED THIS 22 DAY OF April 2013.
nd
YES NO
Hedberg X Hedberg
Keeney X Keeney
McGuire X McGuire
Morton X Morton
Soukup X Soukup
______________________________
Frank Boyles, City Manager