HomeMy WebLinkAboutBCS Properties, LLC and GAC Real Estate - 3/5/2018 CONTRACT
This Agreement entered into this day of ,2018,by the City of
Waterloo, Iowa ("City") and BCS Properties,L.L.C. and GAC Real Esta e,LLC (collectively "Developer").
WHEREAS, Developer has filed with the City Planning, Programming, and Zoning Commission of the
City, a final plat which must be approved by the City Council of Waterloo,Iowa, and
WHEREAS, said addition is to be known as Village West 2 Addition,Waterloo,Iowa, and
WHEREAS, it is the desire of the City Council of the City,that sanitary sewers, storm sewers,curb and
gutter, street paving and concrete sidewalks be installed throughout said addition and that the streets in said
addition be brought to grade acceptable to the Council of the City, and that all work above referred to be done
under the supervision and direction of a civil engineer registered in the state of Iowa,and
WHEREAS,Developer is unable to complete the installation of said above referred to improvements and the
grading of the streets in said addition at this time and desire, in lieu of completion of said improvements to enter into
this Agreement with the City,providing for the completion of said improvements within a fixed period of time.
NOW THEREFORE, it is agreed as follows: that in consideration of the approval by the City Council of the
City, of the above-described final plat,Developer at its sole expense,agrees to bring the streets in said addition to
such grade as is now or shall hereafter be established by the City Council and the City Engineer of Waterloo,Iowa,
and to install and construct throughout said addition the sanitary sewers, storm sewers, curb and gutter, street paving
and concrete sidewalks, all in accordance with the preliminary plat,heretofore filed with the City Planning,
Programming, and Zoning Commission and with the City Clerk of Waterloo, Iowa,and it is further agreed that the
actual construction of said improvements shall be done in the manner provided by law and in accordance with City
Ordinances pertaining thereto and under the supervision of a civil engineer registered in the state of Iowa.
IT IS FURTHER AGREED,that concurrently with the execution of this Contract Developer has executed
and caused to be filed with the City,its Petition and Waiver of Notice,for the sole purpose of allowing the City to
proceed to construct the said public improvements and assess the costs thereof against the benefited property of the
addition in the event that the Developer fails to comply with the provisions of this Contract.
IT IS FURTHER AGREED,that said improvements shall be completed no later than the 1S1 day of
OLA' ,be)e , 20 1,8f and the City is hereby specifically authorized to proceed to have any improvement
covered by this Agreement completed any time after said date.
WITNESS our signatures hereto this at -day of 2018
BCS Properties, L.L.C. City of Waterloo, Iowa
By: Brent Dahlstrom By: Quentin Hart
Its: Manager Its: Mayor
GAC Real Estate LC
or A. Cool
Its: a ge Attest:
y: Kelley Fechle
Its: City Clerk