Fiscal Note
Private Contract, No City Funds Required.
Title
Approving future phase contract for public improvements necessary for the Subdivision known Paragon Place, be undertaken by the Developer, Private Contract No. 2360. (9th AD)
Body
WHEREAS, the developer, United Financial Group, Inc., has received the City of Madison's approval to create the subdivision known as Paragon Place; and,
WHEREAS, Section 16.23(9) of the Madison General Ordinances requires the developer to install the public improvements necessary to serve the subdivision.
NOW, THEREFORE, BE IT RESOLVED:
1. That the Mayor and City Clerk are hereby authorized and directed to execute a Future Phase Contract For the Construction of Public Improvements That Will be Accepted by the City of Madison For Paragon Place, with United Financial Group, Inc.
2. That the developer is authorized to construct the public improvements in accordance with the terms of the Future Phase Contract For the Construction of Public Improvements That Will be Accepted by the City of Madison at the sole cost of the developer, except as follows: NONE
4. That the Mayor and City Clerk are hereby authorized to sign and grant easements or right-of-way release or procurement documents, maintenance agreements or encroachment agreements, as necessary and grant or accept dedication of lands and/or easements from/to the Developer/Owner for public improvements located outside of existing public fee title or easement right-of-ways.
5. That Lot 1 be deed restricted for sale or transfer until such time as a subsequent construction phase contract and the appropriate surety is provided to the City to guarantee the installation of public improvements to serve said lots.