Title
RESOLUTION AUTHORIZING A DEVELOPMENT AGREEMENT BETWEEN THE CITY OF DULUTH AND UNIQUE OPPORTUNITIES LLC, FOR THE DEVELOPMENT OF PROPERTY SOUTH OF ARROWHEAD ROAD AND EAST OF STANFORD AVENUE.
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CITY PROPOSAL:
RESOLVED, that the city council does hereby approve a development agreement with Unique Opportunities, LLC ("Developer"), substantially and in the form of that attached hereto as Exhibit A, for the development of approximately 275 apartment units on property located south of Arrowhead Road and Stanford Avenue.
Statement of Purpose
STATEMENT OF PURPOSE: The purpose of this resolution is to obtain the city council's approval of the development agreement between the city of Duluth and Unique Opportunities, LLC, for the platting and developing of Arrowhead Acres, a three building apartment complex with approximately 275 unit on the property located south of Arrowhead Road and East of Stanford Avenue. The proposed development has not requested public assistance and is not related to any form of business subsidy to the Developer.
The property in question, consisting of 2 parcels and shown on the attached map in the form of Exhibit B, has been acquired by Unique Opportunities, LLC for the purpose of residential development. The applicant is submitting a final plat to plat the approximately 19 acres into 2 blocks, 4 lots, and 1 Outlot. Lots 1 through 3 of block 1 will be a phased multi-family development, providing approximately 275 residential units. Outlot A will be used for storm water treatment purposes, which will be owned and operated by the Developer. Access to these 2 blocks will be from the intersection of Arrowhead Road and Stanford Avenue, extending south Stanford Avenue then east into Eischen Court. The plan also includes development of interior roads, sidewalks, and a stormwater treatment area on Outlot A to help address stormwater run-off.
The final plat will be considered by the planning commission on September 14, 2021 for approval...
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