HomeMy WebLinkAboutAgreement to Accept Payment in Lieu of Installing Streetlights at KnighthillAGREEMENT TO ACCEPT PAYMENT IN LIEU OF INSTALLING STREETLIGHTS
AT
KNIGHTHILL SUBDIVISION
THIS AGREEMENT for streetlight installation, made this _/ day of 2015
between the City of Meridian, a municipal corporation organized under the laws of the State of
Idaho, whose address is 33 East Broadway Avenue, Meridian, Idaho (hereinafter "City"), and
Knighthill, LLC, 1676 N. Clarendon Way, Eagle, ID 83616 (hereinafter "Knighthill").
WHEREAS, Knighthill has received from City, conditional approval of the Final Plat for the
Knighthill Subdivision, Case No. FP -14-020; and,
WHEREAS, one of the General Requirements of City's approval of FP -14-020 is to install
streetlights on all public roadways per the City of Meridian Improvement Standards for Street
Lighting; and,
WHEREAS, the Idaho Transportation Department is designing road widening improvement
for this section of Chinden Blvd. and, Knighthill is currently unable to install the four required
streetlights on Chinden Blvd. in a location where they will not need to be relocated during the road
widening project ; and,
WHEREAS, when this section of Chinden Blvd. is widened, City is willing to install the
required streetlights if Knighthill has paid to City the estimated amount necessary to install the
streetlights.
NOW THEREFORE, THE PARTIES AGREE AS FOLLOWS:
1. Knighthill shall pay to the City the amount of $11,860 as the amount necessary to supply,
wire, and install four 250 Watt, high-pressure sodium Type -1, 30' streetlights with 8' arms.
2. City agrees to accept the amount set forth in Article 1 in lieu of requiring Knighthill to install
the 30' streetlights on Chinden Blvd. in front of the Subdivision.
3. Upon payment of the amount in Article 1 by Knighthill to City, Knighthill's requirement to
install the four 30' streetlights on Chinden Blvd. shall be considered satisfied.
4. This agreement shall be binding upon and inure to the benefit of the parties hereto and
their heirs, successors and assigns, and shall survive any transfer by Knighthill of Knighthill
Subdivision Property.
IN WITNESS WHEREOF, the parties shall cause this Agreement to be executed by their duly
authorized officers the day and year first above written.
KNIG I LC ITY OF ME _ -'
By. By
es R. Wylie I/ Manager Tammy eerd, Mayor