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Posted: February 28, 2017
Rapid City
Agenda Item Summary

Agenda Item Ref. #: PW022817-11

Agenda Item Title:

Authorize Mayor and Finance Officer to Sign an Agreement for Public Improvements Between the City, The North Atlantic Developers, LLC and Personal Guarantors.

Origination Group:
Public Works Committee
Origination Meeting Date:
02/28/2017
City Council Hearing Date:
03/06/2017
Staff Contact:
Carla Cushman
Agenda Item Summary:
This Agreement is an amended version of the standard developer’s agreement for public improvements. The owner wishes to plat the property located northwest of the intersection of Mt. Rushmore Road and Catron Boulevard and immediately sell it to Developer; this plat triggers dedication of right of way as well as construction of the road and utilities. Instead of requiring the current owner to fulfill the subdivision requirements, Developer has asked the City to allow Developer to dedicate right of way in the future and to install improvements at that time. The individuals involved in The North Atlantic Developers, LLC agreed to personally guarantee that the right of way would be dedicated in accordance with the Major Street Plan and that the public improvements would be installed within 2 years of the Agreement. The standard developer’s agreement was modified to include these additional provisions.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Approve

Attachments & Links to Download:

  pdf Agreement

  pdf Engineer's Estimate

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