RES 19-09CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO. 2019-09
RESOLUTION APPROVING DEVELOPERS AGREEMENT- MAGNOLIA
LANDING 2ND ADDITION
WHEREAS, D.R. Horton, Inc.- Minnesota has an approved Plat known as
MAGNOLIA LANDING 2ND 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 D.R.
Horton, Inc.- Minnesota is hereby approved in form, subject to
modification of fees, charges and security as approved by City staff.
2. The Mayor and City Clerk are hereby authorized to execute the final
Developers Agreement on behalf of the City of Otsego.
ADOPTED this 1 lth day of February, 2019 by the City Council of Otsego.
MOTION TO ADOPT the Resolution by Council Member Darkenwald and
seconded by Council Member Tanner.
IN FAVOR: Stockamp, Darkenwald, Tanner, Warehime, Goede
OPPOSED: None
CITY OF OTSEGO
Jessica Stockamp, Mayor
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Tami Loff, City Clerk