Adopt Resolution #15-05-115 Approving a Development Agreement for Brookfield 6th Addition; Case of Brookfield Land, LLC

On April 28, 2015, the City Council approved the Final Plat for Brookfield 6th Addition, contingent upon revisions as outlined in the Staff Review Letter dated April 24, 2015.  At the time of plat approval, a detailed cost estimate for the required improvements was not available and thus, the Development Agreement included with that case was only in draft format.  Brookfield Land, LLC has now submitted a detailed cost estimate that can be used to finalize the surety and inspection fee components of the Development Agreement.

Notification is not required to approve a Development Agreement.

Brookfield 6th Addition consists of eighteen (18) single family residential lots and one (1) outlot.  This phase includes the installation of 168th Ave and a small segment of Kamacite St and utilities including water, sanitary sewer and storm sewer.  The estimated cost of completing the required improvements is $316,682.00 and the required surety and inspection fee have been calculated off this figure.  The attached Development Agreement outlines the improvements that the Developer (Brookfield Land, LLC) is required to install.

All costs associated with processing the request are the responsibility of the Applicant.

Staff recommends adopting Resolution #15-05-115 approving the final Development Agreement for Brookfield 6th Addition.

Motion to adopt Resolution #15-05-115 approving the Development Agreement for Brookfield 6th Addition, subject to review by the City Attorney as to legal form.