Title
RESOLUTION AUTHORIZING AGREEMENT WITH SPIRIT VALLEY LAND COMPANY TO CONSTRUCT RIVERWEST DRIVE AND UTILITIES AND PROVIDE FOR ASSESSMENT OF PORTIONS OF THE ROAD COST AND THE UTILITY COST.
Body
CITY PROPOSAL:
RESOLVED, that proper city officials are hereby authorized to enter into an agreement, substantially in the form of that attached hereto as Exhibit A, with Spirit Valley Land Company, LLC., a Minnesota limited liability company ("SVLC"), pursuant to which the city conditionally commits to construct newly-platted River West Drive, formerly known as Kayak Bay Road, from Grand Avenue to the Burlington Northern Santa Fe (BNSF) railroad tracks and to construct utilities in the road right-of-way and committing SVLC to agree to pay the cost of the road and utilities in excess of funds from other sources by assessment, all sums to be payable from working fund no. 411-035-5530-PI 2018-1403 (permanent improvement fund, capital projects, improvements other than buildings, project - Kayak Bay Road & utilities).
FURTHER RESOLVED, that resolution 18-0263 is hereby rescinded.
Statement of Purpose
STATEMENT OF PURPOSE: The purpose of this resolution is to authorize an agreement with Spirit Valley Land Company ("SVLC") for the construction of River West Drive (formerly intended to be called Kayak Bay Drive) from Grand Avenue to the Burlington Northern Santa Fe ("BNSF") railroad tracks located approximately 850 feet south of Grand Avenue, to extend water and sewer mains in the road right-of-way and to provide for storm water drainage, all to facilitate the development of the surrounding land owned by SVLC for commercial and residential purposes. The road will include a small parking area to provide for access to the Munger Trail and other nearby recreational amenities. This agreement will bring to fruition, in modified form, the project originally known as Kayak Bay.
The Kayak Bay project originally contemplated the development of several tracts of land acro...
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