RES 18-50CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO. 2018-50
RESOLUTION APPROVING DEVELOPERS AGREEMENT-
RIVERBEND NORTH ADDITION
WHEREAS, Otsego Apartments LLC has an approved Plat known as
RIVERBEND NORTH ADDITION; and
WHEREAS, the approved Plat requires construction of public improvements,
payment of City costs and fees and escrow and security; and
WHEREAS, those obligations are contained and memorialized in the attached
Developers Agreement; and
WHEREAS, the Developers Agreement also sets forth the security required to
assure satisfactory construction of public improvements and establishes the
various remedies available to the City in the event that Developer breaches the
terms and conditions of the Agreement.
NOW, THEREFORE BE IT RESOLVED by the City Council of the City of
Otsego, Wright County, Minnesota as follows;
1. The attached Developers Agreement between the City of Otsego and
Otsego Apartments LLC is hereby approved in form, subject to
modification of fees, charges and security as approved by City staff.
2. The Mayor and City Cleric are hereby authorized to execute the final
Developers Agreement on behalf of the City of Otsego.
ADOPTED this 23rd day of July, 2018 by the City Council of Otsego.
MOTION TO ADOPT the Resolution by Council Member Warehime and
seconded by Council Member Heidner.
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IN FAVOR: Stockamp, Heidner, Warehime, Tanner
OPPOSED: None
ABSTAINING: Darkenwald
CITY OF OTSEGO
Jessica Stockamp, Mayor
Tami Loff, City Clerk t .