HomeMy Public PortalAboutAB 15-177 Timbercrest Downtown Amended EscrowMcCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, Idaho 83638
Number AB 15-177
Meeting Date October 8, 2015
AGENDA ITEM INFORMATION
SUBJECT:
SUB-04-18L Timbercrest Downtown
Amended Escrow Account Instructions
Department Approvals
Initials
Originator
or
Supporter
Mayor / Council
City Manager
Clerk
Treasurer
Community Development
Originator
Police Department
Public Works
Golf Course
COST IMPACT:
$77,606 (private)
Parks and Recreation
FUNDING SOURCE:
Escrow account
Airport
Library
TIMELINE:
October 31, 2017
Information Systems
Grant Coordinator
SUMMARY STATEMENT:
Timbercrest Downtown submitted an amended Escrow Instructions for the Timbercrest Downtown Escrow Account which is being held by AmeriTitle. The Escrow Account Instructions require the
owner, Dan Green, to complete the subject Second Street and Lenora Street Improvements by October 31, 2015 and he was prepared to complete the improvements. However, Dan was advised
by Public Works that they would prefer that he defer construction of the improvements to hopefully complete the improvements as part of a larger streets project, funding dependent.
Therefore, it is necessary to amend the Escrow Account Instructions to extend the completion date. Attached are Amended Instructions that have been review and approved by the City Attorney.
The amendments only include the Sections which contain the October 31, 2015 date, which is extended to October 31, 2017.
RECOMMENDED ACTION:
Approve the Timbercrest Downtown Amended Escrow Account Instruction and authorize the Mayor to sign all necessary documents.
RECORD OF COUNCIL ACTION
MEETING DATE
ACTION