HomeMy WebLinkAbout05(H) - Resolution Approving Pike Lake Landing Development Agreement Amendment ReportCITY COUNCIL AGENDA REPORT ITEM: 5H
MEETING DATE:
PREPARED BY:
PRESENTED BY:
AGENDA ITEM:
GOAL AREA
OBJECTIVE:
September 19, 2022
Nick Monserud, Assistant City Engineer
Nick Monserud
Approve Amendment to Development Agreement -Pike Lake
Landing
Desirable & Sustainable Development
4.Encourage development and preservation of quality life-cycle
residential housing options.
Transportation & Mobility
2.Promote neighborhood connectivity and safety through
development and street reconstruction projects.
RECOMMENDED ACTION:
Approve a resolution authorizing the first amendment to the Pike Lake Landing Development
Agreement.
BACKGROUND:
RT Development Inc. has approval of a Final Plat for a low-density residential development known
as Pike Lake Landing. The subject site is located east of CSAH 21 and north of CSAH 42.
The development received Final Plat approval in February of 2021. The Parkwood Estates final
plat consists of 53 residential lots as well as all the public streets and accompanying public utility
lines through the development.
The development was accepted by the City Council in January of 2022. At this time the warranty
period began.
In the spring of 2022 settlements began to show up on the roadways within the development and
have continued to pop up throughout the summer.
In discussions with the Developer, City staff have determined that an amendment to the
Development Agreement is necessary to memorialize the agreed upon actions to be taken by the
developer to provide the City a final product that will last 50-yrs. Also, with the Development
Agreement Amendment, the developer will provide the City additional years of warranty to ensure
the settlement issues are remedied. The attached amendment was prepared by the city attorney.
FINANCIAL IMPACT:
None.
City of Prior Lake I 4646 Dakota Street SE I Prior Lake MN 55372