Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Land Development topic
No spam. Unsubscribe anytime.
Council approves petitions for Cove's Addition Phase 3, $3.624M improvements subject to letters of credit
Summary
Council accepted petitions and adopted resolutions of advisability for Cove's Addition Phase 3 (about 73 homes), approving $3,624,000 in estimated improvements on condition that irrevocable letters of credit are received.
City staff described Cove's Addition Phase 3 as a developer-driven series of street, sewer, stormwater and water improvements that would support roughly 73 new homes. "They are in the process of wanting to go ahead and move forward with phase 3 of the Cove's addition, which should add approximately 73 houses," the staff member said, and noted the engineer's corrected estimated total cost: "It's actually 3,624,000 is what the total cost estimated cost from the engineer for all improvements."
Staff reported the city had received petitions determined to be potentially valid and recommended the council accept the petitions and adopt resolutions of advisability, but make approvals subject to receiving irrevocable letters of credit (expected by the end of August) before bids are approved. A council member moved to accept the petitions and adopt the resolutions; the motion was seconded and carried. The council recorded the motion as subject to receiving the letters of credit.
