RES 16-48CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO. 2016-48
RESOLUTION APPROVING DEVELOPERS AGREEMENT- GREAT
RIVER CENTRE OF OTSEGO FOURTH ADDITION- LOT 1, BLOCK 1
WHEREAS, P&F Properties, Inc. intends to construct a building upon LOT 1,
BLOCK 1 of a previously approved Plat known as GREAT RIVER CENTRE OF
OTSEGO FOURTH ADDITION; and
WHEREAS, the approved work on the Lot requires construction of some public
improvements and payment of City costs and fees; 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;
The attached Developers Agreement between the City of Otsego and P&F
Properties, Inc. is hereby approved.
2. The Mayor and City Clerk are hereby authorized to execute the Developers
Agreement on behalf of the City of Otsego.
ADOPTED this 9th day of May, 2016 by the City Council of Otsego.
MOTION TO ADOPT the Resolution by Council Member Warehime
and seconded by Council Member Stockamp
IN FAVOR: Stockamp, Warehime, Heidner, Darkenwald
OPPOSED: None
CITY OF OTSEGO
J sica Stockamp, Mayor
datv\,-Y"��
Tami Loff, City Clerk
2