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File #: 0242-23    Version: A Name: Subject: Developers Agreement for the Leo Living Multi-Residential Development (LEO@Mount Pleasant LLC, Developer) Recommendation: To Approve with Referral to the Finance & Personnel Committee Fiscal Note: All costs associated with design and constr
Type: Communication Status: Passed
File created: 3/8/2023 In control: Finance and Personnel Committee
On agenda: 4/17/2023 Final action: 4/17/2023
Title: Subject: Communication sponsored by Alder Taft, on behalf of the Waterworks Commission submitting Developers Agreement for the Leo Living Multi-Residential Development (LEO@Mount Pleasant LLC, Developer). Recommendation of the Finance and Personnel Committee on 04-10-2023: That the Waterworks Commission be allowed Consideration and Approval of the Developers Agreement for the Leo Living Multi-Residential Development. Fiscal Note: All costs associated with design and construction of the water main and service will be paid by the Developer. Per the Agreement, the water main will be dedicated to the Utility for future maintenance as Contributions in Aid of Construction (CIAC). In addition, as the property abuts CTH C, which is designated as a regional water main artery, the Developer will pay for a 12-inch diameter local distribution main segment of that water main. Per the Retail Water Agreement, the Utility will pay over-sizing costs estimated at $30,000.00 for the regional main. Per ...
Attachments: 1. developers agreemt_leo living, 2. #0242-23 Resolution

Title

Subject: Communication sponsored by Alder Taft, on behalf of the Waterworks Commission submitting Developers Agreement for the Leo Living Multi-Residential Development (LEO@Mount Pleasant LLC, Developer).

 

Recommendation of the Finance and Personnel Committee on 04-10-2023: That the Waterworks Commission be allowed Consideration and Approval of the Developers Agreement for the Leo Living Multi-Residential Development.

 

Fiscal Note: All costs associated with design and construction of the water main and service will be paid by the Developer. Per the Agreement, the water main will be dedicated to the Utility for future maintenance as Contributions in Aid of Construction (CIAC). In addition, as the property abuts CTH C, which is designated as a regional water main artery, the Developer will pay for a 12-inch diameter local distribution main segment of that water main. Per the Retail Water Agreement, the Utility will pay over-sizing costs estimated at $30,000.00 for the regional main. Per the Wholesale Water Agreement, the Village of Caledonia will be assessed by the Utility to pay a Direct Payment Capital Charge portion of that over-sizing cost.