HomeMy WebLinkAbout05-13716200 Eagle Creek Avenue S.E.
Prior Lake, MN 55372-1714
RESOLUTION 05-137
A RESOLUTION AUTHORIZING THE ASSIGNMENT OF THE "STEMMER RIDGE" DEVELOPMENT
CONTRACT
WHEREAS,
WHEREAS,
Motion By: Fleming Second By: LeMair
On June 6, 2005, the City Council approved the final plat known as Stemmer Ridge
and authorized the Mayor and the City Manager to execute the Development Contract
for this plat; and
Arcon Development is requesting approval of the assignment of the executed
Development Contract to Toll Brothers, Inc.; and
WHEREAS,
The Development Contract lists the required public improvements, development fees
and the necessary Letter of Credit; and
WHEREAS,
Toll Brothers, Inc., is able to assume the responsibilities for the public improvements,
development fees, Letter of Credit and all other duties involved in the Development
Contract; and
WHEREAS,
The City Council has approved the assignment of the Development Contract for
"Stemmer Ridge".
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 hereby authorized to execute the Assignment Agreement on
behalf of the City.
PASSED AND ADOPTED THIS 1sT DAY OF AUGUST, 2005.
YES NO
Hau~len X Hau~en
Flernin9 X Flemin~l
LeMair X LeMair
Petersen Absent Petersen
Zieska X Zieska
Frank Boy-les,(.l~y ~anager
R:',,RESOLU TI\P[..ANRES'.OS~i 3'7 assign Stemmer Ridg~~.O~or~ke;cQm
Phone 952.447.4230 / Fax 952.447.4245