HomeMy WebLinkAbout~Master - Supplemental Agreement for Estates of Nature's Crossing Subdivision RESOLUTION NO. 10-185
RESOLUTION APPROVING SUPPLEMENTAL AGREEMENT
FOR ESTATES OF NATURE'S CROSSING SUBDIVISION
FOR THE CITY OF AMES
WHEREAS, on February 9, 2010, the Council approved an alternative shared-use path
alignment from Christopher Gartner Park through The Estates of Nature's Crossing and South Fork
Subdivisions to the Ames Middle School,and directed staff to draft a supplemental agreement with
The Estates of Nature's Crossing Subdivision developer that details the work to be performed and
the shared funding arrangements; and,
WHEREAS, the developer has agreed to install or pay for all costs with the exception that
the City will pay a set amount of$14,000, and this amount approximates a three-way split of the
costs of that segment amongst the City, The Estates of Nature's Crossing developer,and the South
Fork Subdivision owner; and,
WHEREAS, this arrangement will enable the construction of this eastern segment to occur
prior to the development of South Fork Subdivision; and,
WHEREAS,a proj ect agreement that details those provisions has been developed,and it calls
for the developer to submit a letter of credit to secure the financing of construction,engineering,and
construction inspection expenses; and,
WHEREAS, the developer has informed the City that the letter of credit will be submitted
on or shortly after April 28,2010,therefore,approval of the agreement and award of the construction
contract are contingent upon receipt of the this letter of credit.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the Supplemental Agreement with the developer of The Estates of Nature's Crossing
Subdivision is hereby approved,subject to receipt of the letter of credit in the amount of$64,500 by
May 6, 2010.
ADOPTED THIS 27" day of April, 2010.
`-4,1Vim' �L�sry
Diane R. Voss, City Clerk Ann H. Campbell, Mayor
Introduced by: Mahayni
Seconded by: Goodman
Voting aye: Davis, Goodman, Mahayni, Larson, Orazem, Wacha
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 27t'day of April, 2010.