City Council Meeting Date: September 7, 2021
To: Mayor and City Council
City Administrator
From: David Bennett, Public Works Director/City Engineer
Title
Consider Motion to approve Trail Installation Agreement and Partial Release of Locust Development Agreement for Outlot F, Locust Development with Timberfield Apartment of Northfield Phase Two, LLLP.
Body
Action Requested:
The Northfield City Council approves the Trail Installation Agreement and Partial Release of Locust Development Agreement for Outlot F, Locust Development with Timberfield Apartment of Northfield Phase Two, LLLP.
Summary Report:
On July 13, 2021 City Council approved a minor subdivision for Outlot F, Locust Development, to Timberfield Apartments First Addition. With the subdivision and replat of the property, the developer is proposing to construct an apartment building.
As part of the Site Plan review process, the developer is requesting that the property be released from the Locust Development agreement from back in 2002 when the area began to develop. A component of the Locust Development agreement is that the trail adjacent to the property get constructed and park fees get paid.
As part of the closing on the property an agreement has been prepared that obligates the developer to construct the trails during the construction of the Apartment building and pay the park fees. With this agreement in place, the City can release the property from the Locust Development agreement.
Staff is recommending approval of the agreement.
Alternative Options:
NA
Financial Impacts:
Outlot F, Locust portion of outstanding park fees is $6,688.29 that will be paid with this agreement.
Tentative Timelines:
Property will close on September 8.