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HomeMy Public PortalAboutResolution 2020-19, Approve Addendum 2 For Woods Estates Of Riverdale Development Agreement Regarding Time Allowed Install Public ImprovementsApril 23, 2020 Woods Construction LLC 4016 Thomas Point Davenport, Iowa 52807 Seth, Enclosed is your copy of Resolution 2020-19, Resolution To Approve The Addendum 2 For Woods Estates Of Riverdale Development Agreement Regarding The Time Allowed To Install Public Improvements. Your Attorney, Jay Summers, must file this with the Scott County Recorder. Thank you, Mary Frances Blevins Deputy Clerk, City of Riverdale City of Riverdale. Iowa 110 Manor Drive, Riverdale, Iowa 52722 I (563) 355-2511 www.riverdaleiowa.com RESOLUTION 2020-19 RESOLUTION TO APPROVE THE ADDENDUM 2 FOR WOODS ESTATES OF RIVERDALE DEVELOPMENT AGREEMENT REGARDING THE TIME ALLOWED TO INSTALL PUBLIC IMPROVEMENTS WHEREAS, the City Council of the City of Riverdale ("City") has entered into an Agreement with Woods Construction and Development Inc for the residential subdivision known as Wood's Estates of Riverdale and this agreement is dated October 10, 2017; and, WHEREAS, the agreement states in Section 2.2 (k) that all public improvements will be installed by December 31, 2020, and, WHEREAS, the City understands that this timeline is not feasible or beneficial to the project or City; and, WHEREAS, the City Council, wants to make reasonable changes to the development agreement that will give the project the best chance of success; and, NOW THEREFORE, BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY OF RIVERDALE, SCOTT COUNTY, IN THE STATE OF IOWA: Approves the Addendum 2 which is attached as Exhibit A that extends the time to install public improvements in the Woods Estates Subdivision. PASSED AND APPROVED this 25th day of February, 2020. Mic el Bawden, or ATTEST: W/Gta-/ Mary Frces Blevins, City Clerk City of Riverdale,Iowa 110 Manor Drive,Riverdale, Iowa 52722•(563)355-2511 •www.riverdaleiowa.com WHEREAS certain unavoidable delays have occurred causing delay in meeting the aforementioned December 31, 2020 timeline, and; WHEREAS, the Developer has completed phase 1 of the Development, and; WHEREAS, the parties further recognize that due to the aforementioned unforeseeable delays, new timelines of completion of said Development shall be effectuated and incorporated into the Agreement. WHEREAS, the City and Developer have agreed that further clarifications and changes to the circumstances of the parties regarding Phase completion timelines have occurred that necessitates an Addendum to said Private Development Agreement, and; THEREFORE, the parties agree that Section 2.2(k) of the Agreement shall read as follows: 1. Barring any Unavoidable Delays and/or real estate market conditions; Developer shall have completed construction of the Public Improvements for Phase 2 on or before December 31, 2021, Developer shall have completed construction of the Public Improvements for Phase 3 on or before December 31, 2022, Developer shall have completed construction of the Public Improvements for Phase 4 on or WOODS CONSTRUCTION AND DEVELOPMENT, INC. Seth Woods, President STATE OF IOWA SS: SCOTT COUNTY On this hi' day of EabiatT, 2020, before me, the undersigned, a Notary Public in and for State of Iowa, personally appeared Seth Woods, to me personally known, who being by me duly sworn did say that he is the President of said corporation, executing the within and foregoing instrument and said instrument was signed on behalf of said corporation by authority of its Board of Directors and that he, as such officer, acknowledged the execution of said instrument to be the voluntary act and deed of said corporation, by it and him voluntarily execut Notary Publ In and For Said County and State ANGELINE CARBER Commission Number 817462 My Commission Expires -�� -zz STATE OF IOWA SS COUNTY OF SCOTT HE CIT • RIVERDALE, IOWA Michael Bawden, Mayor '245 On this _ day of , 2020, before me, the undersigned, a Notary Public in and for said County and State personally appeared Michael Bawden to me known to be the persons named in and who executed the foregoing instrument and acknowledged that they execute the samei , r voluntary act and deed. GEORGE TODD MI�L2f'(Y Public d For Said County and State Commission No. 824 My Commission E it Ahr ti 't �G