07-25-1994 Council Minutes - Laserfiche WebLink

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. . Z - -- MINUTES OF THE REGULAR ORONO COUNCIL MEETING HELD . JULY 25, 1994 0 Hurr suggested creating a "quiet water" zone and questioned if the City had the right to do so. City Administrator Moorse stated that if there were agreement by both cities they could restrict water craft to small motors or no motors. City Administrator Moorse questioned the enforcement of a 30 minute time limit. He will continue to work with Joe Lynch, the Long Lake City Administrator to develop an effective, enforceable ordinance. Hurr noted that personal water craft have the same rights as boats. ( * #11) REQUEST FOR REFUND OF PARK DEDICATION FEE It was moved by Jabbour, seconded by Goetten, to authorize the refund of $25,200 park dedication fee due to withdrawal of Application #1818 payable to Russell T. Lund, III. Ayes 5, nays 0. ( #12) GRANT PROGRAM 1994 - RESOLUTIOMN COMMUNITY DEVELOPMENT BLOCK 3454 It was moved by Jabbour, seconded by Goetten, to adopt Resolution No. 3454 authorizing the Mayor and City Administrator to execute a subrecipient agreement with Hennepin County for 1994 (Year XX) Urban Hennepin County Community Development Block Grant Program. Ayes 5, nays 0. ( #13) TANDEM PROPERTIES VIEW OF SUBDIVIDERS AGREEMENT AND • SECURIT Y DEPOSIT City Attorney Barrett explained the City's requirement for a subdivider to post a bond in the amount of 150% of the value. Originally the subdivider proposed to financially support this property with a supplemental mortgage. After reviewing, the City Attorney advised against accepting this type of security. After much negotiation, a Letter of Credit in the amount of $300,000 and a Performance Bond of $420,000 were proposed. After the improvements were accepted by the City, the developer would then post a $15,000 Letter of Credit to cover legal costs and a two -year Warranty Bond to secure any defects in work. As work progresses, the bond is reduced but Letter of Credit is maintained until work to be completed is valued at less than 150% of $300,000 amount. Mabusth added that no building permits would be issued until retention ponds and roads are completed. She noted the final plat resolution accepted a supplemental mortgage even though that has never been accepted by the City in the past. Other cities have used supplemental mortgages. The City Attorney's office has worked with the developer to establish the current security. Hurr stated there should have been a legal review prior to accepting a supplemental mortgage in the final plat resolution. It was moved by Callahan, seconded by Jabbour, to approve the security deposit proposed by Tandem Properties. Ayes 5, nays 0. 10 40