Resolution - 13-22 - Releasing Escrow Deposit for Pres. Homes•
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CITY OF SPRING PARK
SPRING PARK, MINNESOTA
RESOLUTION 13 - 22
A RESOLUTION RELEASING THE ESCROW DEPOSIT FOR THE
PRESBYTERIAN HOMES PROJECT
WHEREAS, pursuant to section 3.2 of the Development Agreement dated
December 21, 2009 by and between the City of Spring Park and Presbyterian Homes
Housing and Assisted Living, Inc. (the "Developer"), the Developer was required to
provide an escrow deposit with the City of Spring Park; and
WHEREAS, the Development Agreement provides that the escrow deposit is to
be released by the City of Spring Park within 30 days of the completion of the project;
and
WHEREAS, all required components of the Development Agreement have been
completed and have been approved by the city planner and city engineer; and
NOW, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS:
1. The escrow deposit be released and the balance thereof, less any final
payments to the City of Spring Park, be returned in full to the developer after
the installation of three trees on the west side of the property.
Adopted by the City Council of the City of Spring Park, Minnesota on November
18, 2013.
Approved:
C sv "6w�
Sarah Reinhardt, Mayor
Attest:
Wendy Le in, City Clerk
Resolution 13 - 22