City Council Meeting Date: March 12, 2024
To: Mayor and City Council
City Administrator
From: Sean Simonson, Engineering Manager
Dave Bennett, Public Works Director/City Engineer
Title
Consider Resolution Accepting Public Improvements for the Hillcrest Village Addition (DEVP2021-Z41).
Body
Action Requested:
The Northfield City Council approves Resolution Accepting Public Improvements for Hillcrest Village Addition (DEVP2021-Z41).
Summary Report:
The City Council is being asked to accept the public improvements for the Hillcrest Village Addition (DEVP2021-Z41). The Developer has submitted the required final documents as noted in the executed Development Agreement between the City of Northfield and Community Action Shelter Associates 2, Inc.
Alternative Options:
This project is completed and the final acceptance is required to complete the Development Agreement.
Financial Impacts:
The City of Northfield collected $21,196.00 in Development Escrow for the project. The City of Northfield expended $15,836.53 while completing the Development. With the approval of final acceptance, the City of Northfield will return the remaining $5,359.47 in escrow balance (Attachment 2).
Note: The City of Northfield was a major financial contributor to for the development of Hillcrest Village. Over $500,000 of City public subsidy were used to make this project possible. The funds came from a combination of housing funds, infrastructure funds for the sidewalk and funding from one-time Federal Assistance.
Tentative Timelines:
A Maintenance Bond has been submitted in favor of the City of Northfield which will be in effect until 6/20/2025 to meet the warranty requirements of the Development Agreement.