HomeMy WebLinkAbout2007-10-05-Resolutions 07-212_LA Grant Pkwy Paving - Ashworth to 312th - Development AgrTHE CITY OF WAUKEE,IOWA
RESOLUTION 07-212
RESOLUTION APPROVING A DEVELOPERS AGREEMENT CONCERNING
PROPERTY OWNERS PORTION OF THE COSTS ASSOCIATED WITH THE LA
GRANT I V AVENUE IMPROVEMENTS
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE,IOWA
WHEREAS,preliminary improvements are being undertaken by the City on LA GrantlV
Avenue;AND
WHEREAS,the preliminary improvements include grading,street paving,and the installation
of turn lanes at the intersections of LA GrantlV Avenue with Ashworth,Dallas County Iowa,in
accordance with design specifications approved by the City;AND
WHEREAS,Stone Prairie (hereinafter referred to as "Property Owner")is the owner of certain
property adjacent to said street whose property will benefit from the improvements;AND
WHEREAS,in order to assist and induce the City to undertake the improvements Property
Owner has made payment to the City in the amount of $140,786.32,and in consideration of said I
payment the City agrees to commence the improvements,subjection to the terms of the
Developers Agreement.
BE IT THEREFORE RESOLVED by the City Council of the City of Waukee on this sth day
of October,2007,that the agreement attached as Exhibit A should be and the same is hereby
approved.
Attest:
ROLL CALL VOTE AYE NAY ABSENT
Donald L.Bailey,Jr.X
Isaiah McGee X IJeffV.Mertz X
Darlene Stanton X
Mike Watts X
Exhibit A
DEVELOPERS AGREEMENT
THIS AGREEMENT is made and entered into by and between the City of Waukee,Iowa
(hereinafter referred to as the "City"),and the undersigned Property Owners,(hereinafter called
"Stone Prairie"),WITNESSETH:
WHEREAS,Stone Prairie has platted property adjacent to the roadway on the property
and has asked the City to undertake preliminary improvements on the roadway adjacent to the
property known as LA GrantIV Avenue;and
WHEREAS,the preliminary improvements contemplated hereunder include grading,
street paving,storm sewer,and the installation of turn lanes at the intersections of LA Grant/V
Avenue with Ashworth and LA GrantIV Avenue with 3121h Place,Dallas County Iowa,in
accordance with design specifications approved by the City,in its sole discretion;and
WHEREAS,the cost of the benefit received by the property as a result of the preliminary
improvements is agreed by the parties to be $142,870.67 but as a result of the payment being
remitted in advance of completion of the improvements the parties have agreed to an interest
reduction in the amount at the rate of 7 Y:z %for 71 days to December 15,2007 for a total of
$140,786.32;and
WHEREAS,in order to assist and induce the City to undertake the improvements Stone
Prairie has made payment to the City in the prepaid amount of $140,786.32 in advance of
completion of the 24 foot rural pavement cross section of pavement of the project completed as
part of'said preliminary improvements and in consideration of said payment the City agrees to
commence the improvements;and
WHEREAS,Stone Prairie and the City wish to set forth their agreements with respect to
the payment by Stone Prairie to the City relating to said payment.
NOW,THEREFORE,IT IS AGREED AMONG THE PARTIES HERETO AS
FOLLOWS:
1.In consideration of the inducements,representations and payments contemplated
pursuant to this agreement,the City of Waukee shall cause the improvements to be constructed
to LA GrantlV A venue in accordance with such plans and specifications,as it shall deem
appropriate.The construction ofthe improvements shall be under the supervision of an engineer
to be selected by the City.
2.Stone Prairie has paid unto the City of Waukee the sum of $140,786.32 dollars
representing its prepaid payment for its share of the preliminary improvements undertaken by the
City.
3.The property owner originally sought to pay its portion within 30 days of
completion of the street paving portion of the preliminary improvements and has instead agreed
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to pay in advance said amount.However,in the event that the 24 foot of rural pavement cross
section is not completed on or before November 15,2007 the city agrees to pay unto property 1
owner interest on said amount from November 15,2007 to the completion date of the 24 foot
rural pavement cross section portion of the preliminary improvements,as determined by the City
engineer,at the rate of 7 II,percent per annum.Upon completion of the 24 foot rural pavement
cross section portion of the project there shall be no further obligation by the City.
4.Severability.If any provision hereof is for any reason unenforceable or
inapplicable,the other provisions hereof will remain in full force and effect in the same manner
as if such unenforceable or inapplicable provisions had never been contained herein.
5.Governing Law.This Agreement shall be governed by and construed III
accordance with the laws of the State ofIowa.
6.Effective.This Agreement is subject to and contingent upon approval by the
Waukee City Council.In the event the Waukee City Council does not approve this agreement,
this Agreement shall be null and void.
DATED as of DUrt/WI 5',2007.
~ii~WA
illiam eard,Mayor
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Attest:,/_)
By:.~J;::e~;f!IIr:-t-:+--;:.~~--'-;--:-:----:----
By:_
(Printed Name and Title)
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