HomeMy WebLinkAboutA078 - Resolution No. 16-545 adopted September 13, 2016 RESOLUTION NO. 16-545
RESOLUTION AUTHORIZING RELEASE OF ASSESSMENT AND
UTILITY CONNECTION FEE OBLIGATION FOR
LOTS 12, 13, 15, AND 16 IN EASTGATE SUBDIVISION
FOR THE CITY OF AMES
WHEREAS, Lots 12, 13, 15, and 16 in Eastgate Subdivision were recently sold for
development; and,
WHEREAS, in 1998, the original Eastgate developer signed a Development Agreement
promising payment for improvements to roads and utilities in the Subdivision; and,
WHEREAS, in 2000,the development became the subject of a bankruptcy proceeding; and
in 2001,the City entered into a Covenant that modified the owner's public infrastructure obligations;
and,
WHEREAS, the property was ultimately acquired by First National Bank through the
bankruptcy proceeding; and,
WHEREAS,the Covenant requires payment to the City for the estimated costs of widening
Dayton Avenue for a turn lane and for connections to water and sewer service, and this payment is
to be made upon the sale or transfer of each lot; and,
WHEREAS, per the schedule of fees owed to the City, $13,860 was owed for Lot 12:
$13,860 was owed for Lot 13; $6,930 was owed for Lot 15; and, $6,930 was owed for Lot 16; and,
WHEREAS, these amounts have now been paid to the City of Ames, and Releases are
necessary so that the purchasers of the lots can close on the real estate transactions for the properties.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that acceptance of payment in the aforementioned amounts is hereby approved;and, authorization
of the Release of Assessment and the Utility Connection fee obligation for Lots 12, 13, 15, and 16,
Eastgate Subdivision is hereby further approved.
ADOPTED THIS 13th day of September, 2016.
Diane R. Voss, City Clerk Ann H. Campbell, Mayor
Introduced by: Betcher
Seconded by: Gartin
Voting aye: Beatty-Hansen, Betcher, Corrieri, Gartin,Nelson, Orazem
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 13th day of September, 2016.