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Home My WebLink AboutA015 - Development Agreement with Pinnacle Properties Ames dated October 27, 2020, Instrument No. 2020-13109 �Qo �Ti s ` Instrument 0: 2020-13109 _ 11/03/2020 03:28:38 PM Total Pages: 9 00 OTHER F Recording Fee: 47.00 y Stacie Herridge, Recorder, Story County Iowa ,w �� w N e-: SPACE A B O V E RESERVED FOR OFFICIAL USE Return document to: City Clerk,515 Clark Avenue,Ames IA 50010 _ Document prepared by: City ofAmes Legal Dq)artrnent,515 Clajic Ave.,Ames,1A 50010—515-239-5146 ENNEENNEONNUft DEVELOPMENT AGREEMENT Doman Project THIS DEVELOPMENT AGREEMENT ("Agreement") is made and entered into as of the Effective Date (as that term is defined herein) by and between the City of Ames, Iowa ("CiV), and Pinnacle Properties Ames L.L.C. ("Developer"), its successors and assigns. The City and the Developer are hereinafter collectively referred to as the"Parties"or individually as a" ". This Agreement shall be effective as of the date the last of the Parties hereto executes same("Effective Date"). RECITALS WHEREAS, the Parties desire the improvement and development of real properties in Story County, Iowa, locally known as 2200 Oakwood Road, and legally described on the attached Exhibit A (collectively,the"Site"),upon submission and approval of a subdivision plat in compliance with state law and City ordinances to be known as "Doman Subdivision," which is a condition for approval of this Agreement;and WHEREAS,the Developer has requested and the City has considered a rezoning of the Site from Agricultural District(A)to Planned Residence District(F-PRD),which is a condition for approval of this Agreement;and WHEREAS, the City approved a Major Site Development Plan and Preliminary Plat, both with conditions of approval,to be known as the Doman Project(the"Project");and WHEREAS, the Developer intends to develop the Project in phases, as set forth in the Preliminary Plat approved with conditions on September 8, 2020,by Resolution No. 20-497 and the Site Development Plan approved with conditions on September 8, 2020, by Resolution No. 20-496; and WHEREAS, the City conditioned approval of any Final Plat upon the Developer entering into an acceptable Development Agreement with the City to ensure that the Site is compliant with City infrastructure requirements, including stormwater and parking lot improvements to an adjacent City Park,as phases of the development occur and that the costs for those improvements attributable to the Developer are appropriately allocated to the Developer. NOW, THEREFORE, in consideration of the Recitals and of the mutual covenants contained herein,and reliance on the same,the receipt and sufficiency of which is hereby acknowledged,the Parties to hereby agree as follows: INTENT AND PURPOSE 1. It is the intent of this Agreement to: a. Recognize that,as of the date hereof,the Developer is the fee simple owner of the Site; b. Satisfy the City Council's condition that the Developer enter into a Development Agreement with the City to address the extension of Green Hills Drive and the connection of Green Hills Drive to three existing stub streets, namely one connection for Suncrest Drive and two connections for Cottonwood Road; c. Address the timing of certain Site-adjacent improvements to City property(namely Christofferson Park) and improvements to public right-of-way and set forth the Developer's financial responsibility for said improvements in connection with the development of the Site;and d. Provide remedies to the City in the event the Developer fails to fulfill its obligations under this Agreement. DEVELOPER'S OBLIGATIONS 2. Oakwood Road intersection and Parking Lot Improvements within Christofferson Park(Park). a. The Developer will extend Green Hills Drive to the south consistent with the Preliminary Plat approved for Domani Subdivision. b. To complete the Green Hills Drive extension on the approved alignment,the Developer is authorized to remove and replace the driveway,parking lot,sidewalks,landscaping,and shared-use paths in the Park and on City property subject to the following: i) Providing proof of general liability insurance satisfactory to the City in the minimum amount of $1,000,000.00,and naming the City as a loss payee. ii) Providing notice to the Parks and Recreation Department Director, Keith Abraham, seven days prior to starting work in the Park. iii) Obtaining the approval of the Municipal Engineer of Public Improvement Plans for Phase 1 of the Project, consistent with the approved plans for the design and construction of sidewalks, shared use path,parking lot paving,parking lot striping,and landscaping. iv) Depositing with the City financial security in a form satisfactory to the City in the amount of 79 487.00 related to improvements located within the Park. This security is to be provided as part of the Public Improvements security for Phase 1. c. All work shall be completed to the City's satisfaction at the sole cost of the Developer,which shall include,but is not limited to,ensuring that the remaining existing parking lot area is in satisfactory condition as a result of the partial removal and replacement proposed with the Public Improvement Plans for Phase I. Financial security will be released upon satisfactory completion of the parking lot and related improvements within the Park. d. Upon closure of the parking lot for the extension of Green Hills Drive, the parking lot must be reconstructed and available for public use as soon as practicable, not to exceed 90 days from its closure. The Parks and Recreation Director may grant an extension of time to complete the improvements due to weather delays. e. The Developer will provide the City with a two-year warranty of workmanship and fitness for each improvement made by the Developer on City property. Each two-year warranty will begin from and after the completion and acceptance by the City of said improvements. f. The Developer will hold harmless and indemnify the City against any claim arising from the construction of the improvements for a period not to exceed eight (8) years from and after the completion and acceptance by the City of each said improvement. 3. Stormwater Improvement within Christofferson Park. a. The Developer desires to create stormwater improvements through the south area of the Park as shown within the Project Plans, including the Site Plan and Stormwater Management Plan. The Developer may enter the Park for purposes of making stormwater improvements subject to the following: i) Providing proof of general liability insurance satisfactory to City in the minimum amount of $1,000,000 and naming the City as a loss payee. ii) Providing 48-hours' notice to the Parks and Recreation Department Director, prior to starting work in the Park. iii) Obtaining approval of final grading, landscaping, and improvement plans from the Municipal Engineer and Parks and Recreation Director. iv) The final improvements shall include an improved, but unpaved, crossing of the stormwater improvements to facilitate the extension of the park trail to the south sidewalk connection from Cottonwood Road. v) Improvements located within the Park are subject to the requirements of the Chapter 5B of the Ames Municipal Code as approved within the stormwater management plan and including the performance bond requirements. b. All work shall be completed to the City's satisfaction at the sole cost of the Developer. c. Upon acceptance of the improvements and the release of the performance bond,the improvements are subject to City's maintenance,control,and discretion for use as parkland. d. The Developer will provide the City with a two-year warranty of workmanship and fitness for each improvement made by the Developer on City property. Each two-year warranty will begin from and after the completion and acceptance by the City of said improvements. e. The Developer agrees to hold harmless and indemnify the City against any claim arising from the construction of the improvements for a period not to exceed eight (8) years from and after the completion and acceptance by the City of each said improvement. 4. Alternative sidewalk within Christofferson Park for extension of Green Hills Drive. a. The Developer shall complete an 8(eight)foot-wide shared-use path extending from the parking lot within the Park to the sidewalk installed within Outlot"C"consistent with approved Project plans. b. The Developer shall complete the shared-use path concurrent with the development of Phase 1,and no later than the completion of the sidewalks at the intersection of Suncrest Drive and Green Hills Drive. c. Financial security for this sidewalk is a component of the Public Improvements related to the First �I Addition of Domani Subdivision. d. Work in the Park shall only occur after 48-hours' notice to the Parks and Recreation Director. e. The grading and paving of the path shall be completed to City standards within 14 days of beginning the work. f. The Developer will provide the City with a two-year warranty of workmanship and fitness for each improvement made by the Developer on City property.Each two-year warranty will begin from and after the completion and acceptance by the City of said improvements. g. The Developer agrees to hold harmless and indemnify the City against any claim arising from the construction of the improvements for a period not to exceed eight (8) years from and after the completion and acceptance b the City of each said improvement. P P Y tY p S. Phasing Plan. a. The Developer agrees and acknowledges that development of the Project must conform to the phasing plan identified for the Project and approved by City Council. b. The City agrees that,subject to approval of building and/or zoning permits,a temporary sales trailer may be placed on the east side of the Site and accessed from Cottonwood Road.The placement of a sales trailer upon the allowed location is temporary and shall be allowed until the completion of the Clubhouse. The sales trailer shall be removed by the Developer from the site within 30 days of receiving final occupancy for the Clubhouse. The City may withhold any and all building permits on any and all lots within the development if the sales trailer is not removed. c. The construction of the Clubhouse is required to begin as a part of Phase 1 and to be completed prior to the commencement f Phase . For purposes of this section Phase 3 is the development of an o se 3 purp p Y lots to the south of Cottonwood Drive, regardless of the actual phasing and subdivision additions approved as Final Plats. The City may withhold any and all building permits for lots in the Third Phase until competition of the Clubhouse. The Developer may request as part of the first Final Plat for lots in Phase 3, a one-year extension for completing the construction of the Clubhouse. Any proposed extension is subject to City Council approval. d. The Developer shall complete site improvements for the Clubhouse site,including a fully functional swimming pool, landscaping, and the Clubhouse as an accessory building for residents' use and enjoyment, prior to the issuance of buildings permits for 80% of the total lots within the Project. The Developer may request approval from the Planning and Housing Director of a six-month extension due to seasonal weather conditions and a good faith effort to substantially complete the site improvements prior to issuance of a building permit for 80%of the lots. The City may withhold any and all building permits and or Final Plat approvals for vacant lots within the development until completing the Clubhouse site improvements. e. The Developer is permitted to use a single-family home as model home for the purposes of showing potential buyers the type of home and finishes available within the Project. The model home must comply with all Building and Fire Code standards as determined by the City of Ames Inspection Division. f. The trail extension through Outlot"C" shall be complete and connect to the aggregate trail within the Park before initiating Phase 3. NONINCL.USION OF OTHER IMPROVEMENT OBLIGATIONS 6. The Parties acknowledge and agree that it is not possible to anticipate all the infrastructure and Code requirements that the Developer may be required to complete or comply with to properly develop the Site. Therefore,the Parties agree that all work done by and on behalf of the Developers with respect to other improvements,including but not limited to,building design,building construction, and utilities, both on-site and off-site, shall be made in compliance with the Iowa Code, SUDAS, and all other federal, state, and local laws and policies of general application, including but not limited to building and zoning codes,whether or not such requirements are specifically stated in this Agreement. REMEDIES 7. The City and the Developer may take any action, including legal, equitable or administrative action, which may appear necessary or desirable to collect any payments due under this Agreement or to enforce performance and observance of any obligation, agreement,or covenant under this Agreement. The City may withhold building permits and/or occupancy permits to ensure the Developer's performance of the terms of this Agreement,in addition to all of the City's other remedies at law or in equity. MODIFICATION OF AGREEMENT 8. The Parties agree that this Agreement may be modified, amended or supplemented by written agreement of the Parties. COVENANTS RUN WITH THE LAND 9. This Agreement shall run with the Site and shall be binding upon the Developer, its successors and assigns. INCORPORATION OF RECITALS AND EXHIBITS 10. The Recitals,together with any and all exhibits and/or other attachments hereto,are confirmed as true and correct and incorporated herein by reference as if fully set forth verbatim. The Recitals,exhibits, and/or other attachments are a part of this Agreement. MISCELLANEOUS 11. This Agreement may be executed in as many counterparts as may be required. It shall not be necessary that the signature on behalf of the Parties hereto appear on each counterpart. All counterparts shall collectively constitute a single Agreement. GOVERNING LAW 12. The laws of the State of Iowa shall govern this agreement. Any dispute relating to this agreement shall be adjudicated in the Iowa District Court for Story County. J rY tY IN WITNESS WHEREOF, the Parties hereto have caused this instrument to be executed as of the Effective Date. [ SPACE BELOW RESERVED FOR SIGNATURES ] PINNACLE PROPERTIE S,L.L.C. Dated 0 t=T 2020. By: Keith D.Arneson,Manager STATE OF IOWA,COUNTY OF STORY,SS.: This instrument was acknowledged before me on do,2020,by Keith D. Arneson as Manager of Pinnacle Properties Ames,L.L.C. BARBARA K. MEINERS pCommission Number 82305 My Commission Expires ow January 09, 2023� RY PUBLIC Passed and approved on r �� ,2020,by Resolution No. 20-�l adopted by the City Council of the City of Ames, Iowa. CITY OF A ES,IOWA John A.Haila,Mayor Atte4.\��i `Vice GJ Y Diane R.Voss,City Clerk STATE OF IOWA,COUNTY OF STORY, SS.: This instrument was acknowledged before me on \�U)-e 1- or( , 2020,by John A. Haila and Diane R. Voss, as Mayor and City Clerk res ely, of the City of Ames,Iowa. .�"•`�� AMY L.coLWELL _ commission Number 81213E My corris ion ti owe NOTARY P BLIC Exhibit "A" LEGAL DESCRIPTION — PARCEL `W' A tract of land located in the southwest quarter of the southeast quarter of Section 16 and the northwest quarter of the northeast quarter of section 21, all in Township 83 North, Range 24 West of the 51h P.M., City of Ames, Story County, Iowa, and being more particularly described as follows: BEGINNING AT THE SOUTHEAST CORNER OF THE SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER OF SAID SECTION 16, THENCE S00054'47"E, 460.55 FEET; THENCE S00033'19"E, 542.76 FEET; THENCE S89015'12"W, 539.01 FEET; THENCE N01°48'23"W, 553.70 FEET; THENCE S89037'07"E, 66.61 FEET; THENCE N00039'02"W, 457.90 FEET; THENCE N01°14'08"W, 906.05 FEET; THENCE N88040'30"E, 331.30 FEET; THENCE N00°39'59"W, 51.90 FEET TO THE BEGINNING OF A 497.50 FOOT RADIUS CURVE CONCAVE SOUTHEASTERLY; THENCE 82.16 FEET ALONG SAID CURVE, LONG CHORD BEARS N04003'53"E, 82.07 FEET; THENCE N08047'45"E, 67.06 FEET TO THE BEGINNING OF A 202.50 FOOT RADIUS CURVE CONCAVE NORTHWESTERLY; THENCE 33.44 FEET ALONG SAID CURVE, LONG CHORD BEARS N04003'53"E, 33.40 FEET; THENCE N00°39'59"W, 121.02 FEET TO THE SOUTH RIGHT-OF-WAY LINE OF OAKWOOD ROAD; THENCE N89042'44"E, 154.45 FEET ALONG SAID RIGHT-OF-WAY; THENCE S00°39'59"E, 1269.38 FEET; THENCE N89051'42"W, 14.91 FEET TO THE POINT OF BEGINNING. also known as Parcel "W" in the Southwest Quarter of the Southeast Quarter of Section 16 and the Northwest Quarter of the Northeast Quarter of Section 21, all in Township 83 North, Range 24 West of the 5th P.M., Story County, Iowa, as shown on the "Plat of Survey" filed in the office of the Recorder of Story County, Iowa, on June 23, 2020, as Instrument No. 2020-06792. e PLAT OF SURVEY OAKWOODROAD BOUNDARY LINE ADJUSTMENT PARCELS U.V.G.AND R. 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