HomeMy WebLinkAbout2007-162 CCRMember Kay Lasman introduced the following resolution and moved its
adoption:
RESOLUTION NO. 2007-162
RESOLUTION AUTHORIZING RELEASE OF FINANCIAL GUARANTEE FOR
EASTBROOK ESTATES
WHEREAS, the City of Brooklyn Center entered into a Subdivision Agreement dated
April 14, 2004 with Eastbrook Properties, L.L.C for the development of land located within the plat of
Eastbrook Estates, Hennepin County, Minnesota; and
WHEREAS, Eastbrook Properties, L.L.C provide two (2) deposits to the City of
Brooklyn Center in the amount of $73,005.00 each for performance and payment security in
accordance with Section 1.2 of said subdivision agreement to assure proper completion of associated
street and utility improvements for Eastbrook Estates; and
WHEREAS, the scope of street and utility improvements was modified to exclude the
construction of 68t" Lane upon petitioning for a tax combination of Lots 1, 2, and 3, Block 1,
Eastbrook Estates, Hennepin County, Minnesota; and
WHEREAS, Eastbrook Properties, L.L.C has completed construction of the remaining
street and utility improvements associated with the subdivision agreement.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Brooklyn
Center, Minnesota that:
1. Release of the performance security for the Eastbrook Estates Subdivision
Agreement in the amount of $73,005.00 is hereby authorized upon receipt of a
1-year warranty bond for the infrastructure improvements.
2. Release of the payment security for the Eastbrook Estates Subdivision
Agreement in the amount of $73,005.00 is hereby authorized upon receipt of
lien waivers from contractors and subcontractors involved in construction of
street, grading and utility improvements associated with the Eastbrook Estates
Subdivision Agreement.
December 10. 2007
ite Mayor
ATTEST: r" /
City Cleric
The motion for the adoption of the foregoing resolution was duly seconded by member
Mary O'Connor
and upon vote being taken thereon, the following voted in favor thereof:
Tim Willson, Kay Tasman, Mary O'Connor, Dan Ryan, and Mark Yelich;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.