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Council approves development agreement for Harvest Ridge Addition with M2 Properties LLC
Summary
Le Mars approved a development agreement with M2 Properties LLC for the Harvest Ridge Addition: city to cover 50% of utility main installation costs and fund paving and storm sewer work for 24th Street SE; the developer must provide a sanitary lift station by Nov. 30, 2027. Council voted to authorize the agreement.
City staff presented a development agreement with M2 Properties LLC for the Harvest Ridge Addition that assigns cost responsibilities and sets construction deadlines.
Under the agreement described to council, the city would pay 50% of the final costs associated with installation of public utility mains within the development. M2 Properties would pay 100% of costs for the storm sewer on 24th Street SE and for Portland cement concrete (PCC) paving of the center 24 feet of that street. Staff told council the sanitary lift station serving the subdivision must be provided by November 30, 2027.
Staff provided preliminary cost estimates: the city’s share of utility work was estimated at just over $104,000 and the city cost for 24th Street (paving and storm sewer) at just over $286,000. Staff said Schlofeld Engineering is preparing plans and that construction scheduling will be coordinated with adjacent development. After discussion the council moved, seconded and voted in favor of approving the development agreement.
