HomeMy WebLinkAbout2022-10-17 I01E_01_a Amendment to Developer's Agreement_Waukee Crossing\AGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: October 17, 2022
AGENDA ITEM:Consideration of approval of a resolution approving Amendment to
Developer’s Agreement [Waukee Crossing, LLC]
FORMAT:Resolution
SYNOPSIS INCLUDING PRO & CON: The City entered into a Developer’s Agreement in August
2021, recorded with the Dallas County Recorder’s office at Book 2021 page 26645 on September 10,
2021, concerning Developer’s obligations to complete the NW 6th Street Improvements. The
agreement provides for an incentive payment to the Developer upon Developer’s completion of the
project. The parties agree to partially modify the formula provided in paragraph 4 of the agreement.
This agreement puts a cap on the incentive payment to the Developer on a portion of the costs of the
NW 6th Street Improvements based on the cost categories of the quote which identifies various cost
item breakdowns of the NW 6th Street Improvements to be undertaken by the Developer.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: The City’s incentive payment to
the Developer will not exceed a total of $153,993.71.
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT:
RECOMMENDATION: Approve the Resolution.
ATTACHMENTS: I. Resolution
II. Amendment to Developer’s Agreement
PREPARED BY: Beth Richardson
REVIEWED BY: Rudy Koester
I1E1a
THE CITY OF WAUKEE, IOWA
RESOLUTION 2022-
APPROVING AMENDMENT TO DEVELOPER’S AGREEMENT BETWEEN THE CITY OF
WAUKEE AND WAUKEE CROSSING, LLC
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE, IOWA
WHEREAS, the City of Waukee, Dallas County, State of Iowa, is a duly organized Municipal
Organization; AND,
WHEREAS, the City entered into a Developer’s Agreement in August 2021, recorded with the Dallas
County Recorder’s Office, Book 2021 page 26645 on September 10, 2021, concerning Developer’s
obligations to complete the NW 6th Street Improvements; AND,
WHEREAS, the agreement provides for an incentive payment to the Developer upon the Developer’s
completion of the project: AND,
WHEREAS, the City and Developer agree to partially modify the formula provided in paragraph 4 of
the agreement to put a cap on the incentive payment to the Developer on a portion of the costs of the
NW 6th Street Improvement based on the cost categories of the exhibit which identifies various cost
item breakdowns of the NW 6th Street Improvements to be undertaken by the Developer,
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Waukee that the
Amendment to Developer’s Agreement between the City of Waukee and Waukee Crossing, LLC is
hereby approved.
Passed by the City Council of the City of Waukee, Iowa, and approved the 17th day of October, 2022.
____________________________
Courtney Clarke, Mayor
Attest:
___________________________________
Rebecca D. Schuett, City Clerk
RESULTS OF VOTE: AYE NAY ABSENT ABSTAIN
Anna Bergman Pierce
R. Charles Bottenberg
Chris Crone
Larry R. Lyon
Ben Sinclair