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Aldermen amend and approve sewer-agreement language for Branson Meadows development
Summary
The board approved an amendment to bill 66-99, authorizing a private sanitary sewer construction agreement and escrow mechanism for the Branson Meadows development; the amendment added dispute-resolution language requiring an escrow agent to hold funds pending court judgment or binding arbitration.
The Board of Aldermen held final reading and approved bill 66-99, an ordinance authorizing agreements with Branson Meadows Tifco LLC and Bridal Branson Hotel 3 LLC for the Branson Meadows development's private sanitary sewer construction and an escrow account to secure completion. Thomas (staff) reported the developer requested redlined language in paragraph 7 to direct the escrow agent to hold funds until any dispute is resolved by court judgment or binding arbitration.
A motion to substitute the exhibit containing those red lines passed and the amended bill was approved by roll call, 6-0. Staff said the escrow and dispute-resolution language is intended to protect the city and ensure funds remain available if the developer does not complete required work by contract deadlines. The ordinance authorizes the mayor to execute documents necessary to implement the agreement.
