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HomeMy WebLinkAbout~Master - Approving Release of Assessment Utility Connection Fee Obligation for Lot 21 in Eastgate Subdivision and extension of covenants for the remaining lots DO NOT WRITE IN THE SPACE ABOVE THIS LINE,RESERVED FOR RECORDER Prepared by:City Clerk's Office,515 Clark Avenue,Ames,IA 50010 Return to:Ames City Clerk,P.O.Box 811,Ames,IA 50010 Phone:515-239-5105 RESOLUTION NO. 18-501 RESOLUTION APPROVING RELEASE OF ASSESSMENT UTILITY CONNECTION FEE OBLIGATION FOR LOT 21 IN EASTGATE SUBDIVISION AND EXTENSION OF COVENANTS FOR THE REMAINING LOTS FOR THE CITY OF AMES WHEREAS, Lot 21 in Eastgate Subdivision was 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,the development became 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 proceedings; and, WHEREAS, the Covenant requires payment to the City for the estimated costs of widening Dayton Avene 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, $6,930 was owed for Lot 21; and, WHEREAS,this amount has now been paid to the City of Ames,and Releases are necessary so that the purchasers of the lot can close on the real estate transactions for the property NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,that acceptance of payment in the amount of$6,930 is hereby approved; and, authorization of the Release of Assessment and the Utility Connection fee obligation for Lot 21, Eastgate Subdivision is hereby approved. ADOPTED THIS 28`' day of August, 2018. -'�ALIIIIA-1 VvLxv� Diane . Voss, City Clerk John . Haila, Nfa W Introduced by: Seconded by: Voting aye: Beatty-Hansen, Betcher, Corrieri, Gartin, Martin, Nelson Voting nay: None Absent: None Resolution declared adopted and signed by the Mayor this 28th day of August, 2018.