HomeMy WebLinkAbout~Master - Releases of Assessment and Utility Connection Fee obligation for Lots 8 and 9 in Eastgate Subdivision RESOLUTION NO. 17-006
RESOLUTION AUTHORIZING RELEASE OF ASSESSMENT AND
UTILITY CONNECTION FEE OBLIGATION FOR
LOTS 8 AND 9 IN EASTGATE SUBDIVISION
FOR THE CITY OF AMES
WHEREAS, Lots 8 and 9 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, $6,510 was owed for Lot 8 and
$6,510 was owed for Lot 9; 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 8 and 9, Eastgate
Subdivision is hereby further approved.
ADOPTED THIS 10" day of January, 2017.
_ Ilia& AC..-AAdzi R. Voss, City Clerk Ann H. Campbell, Mayor
Introduced by: Nelson
Seconded by: Corrieri
Voting aye: Beatty-Hansen, Betcher, Corrieri, Gartin,Nelson, Orazem
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 10t1i day of January, 2017.