HomeMy WebLinkAboutSummary of Agreement for the Oaks Subdivision Sanitary Sewer Lift Station Reimbursement Agreement(Space Above For Recorder's Use)
SUMMARY OF AGREEMENT
CITY OF MERIDIAN
OAKS SUBDIVISION SANITARY SEWER LIFT STATION
REIMBURSEMENT AGREEMENT FOR INFRASTRUCTURE ENHANCEMENT
WHEREAS, pursuant to Meridian City Code 8-6-5, on the 9th day of February, 2016, a
Reimbursement Agreement for Infrastructure Enhancement ("RAIE") was entered into between
NEW OAKS LLC, an Idaho Limited Liability Company, hereafter referred to as "Developer",
and the CITY OF MERIDIAN, hereinafter referred to as "City"and recorded as Ada County
Instrument Number 2016- ; and,
WHEREAS, said agreement identifies a sanitary sewer Service Benefit Area ("SBA"), attached
hereto as Exhibit A, where excess sanitary sewer infrastructure has been constructed by others
and is available for future development; and,
WHEREAS, when real property within the SBA is annexed into City in the future, there may be
certain conditions of development pertaining to reimbursement for the use of the excess sanitary
sewer infrastructure; and,
WHEREAS, the Parties to the RAIE desire to put landowners in the SBA on notice of the terms
and conditions of the RAIE; and,
WHEREAS, the individual beneficiary parcels within the SBA were identified in the RAIE for
purposes of Notice in the land records of Ada County, Idaho. In the event that such Notice is
deemed in the future to have not been perfected, this Summary of Agreement may be recorded in
the land records of Ada County, Idaho, as necessary, on the individual parcels of real property
identified by legal description set forth on Exhibit B, attached hereto and incorporated herein.
Summary of Agreement - 1
NOW, THEREFORE, in consideration of the premises, the Parties do hereby execute this
Summary of Agreement, setting forth the relevant terms of the RAIE as follows:
1. Developer has constructed a sanitary sewer lift station and other infrastructure containing
extra capacity and depth beyond that needed to serve its development.
2. The differential cost of the extra sanitary sewer capacity is $447,466.
3. The Service Benefit Area (SBA) that could be served by the extra sanitary sewer capacity
has been identified on Exhibit A, attached hereto and incorporated herein.
4. As constructed, the extra sanitary sewer capacity can serve 1,940 Equivalent Residential
Units ("ERUs").
5. The extra sanitary sewer capacity will be distributed throughout the SBA on a first-come,
first served basis in the event that the beneficiary parcels have been annexed into City, at
the time of subdivision development.
6. The beneficiary reimbursement amount per ERU is $230.65 plus an administrative fee of
34.60 per ERU.
7. Subject to availability of the ERUs, the beneficiary reimbursement amount and
administrative fee shall be paid upon development, at the time of application for the
preliminary plat containing the beneficiary parcels.
8. The RAIE shall terminate upon the earlier of the expiration of the term of the Agreement,
or upon the City's remittance to the Developer of the full eligible reimbursement amount.
This Summary of Agreement is only intended to summarize and highlight the terms and
conditions of the RAIE. The entire RAIE can be found in the land records of Ada County Idaho
under the Instrument Number set forth in the first paragraph, above. In the event of an
inconsistency between the RAIE and this Summary of Agreement, the terms of the RAIE shall
supersede.
IN WITNESS WHEREOF, the Parties have executed this Summary of Agreement to be
effective as of the date first above written.
Summary of Agreement - 2
NEW OAKS LLC
By
Thomas M. Coleman Jr.
President of Coleman Communities, Inc.
Manager of Coleman Homes LLC
Manager of New Oaks LLC
STATE OF IDAHO )
}ss.
County of Ada )
On this W4—day of2016, before me, the undersigned, a Notary Public in and for said
State, personally appeared Thomas M. Colema , known and identified to me to be the person who executed the
instrument on behalf of said limited liability company, and acknowledged to me that such limited liability company
executed the same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in
this certificate:,fit9f 4b'ove,written.
NOTARY PUBLIC FOR IDAHO
(SEAL) Residing at: L
Commission expires:
CITY OF'MERWIANa $``Jtzr`"` D'`Uc�s ATTEST:
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Tammy de e ,14
�M ;� Z l Y cee Holman, City Clerk
SEAL
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STATE OF IDAHO )" "
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County of Ada, )
On this 1 day of �k n-kpm 2016, before me, the undersigned, a Notary Public in and for
said State, personally appeared Tammy de Wed and Jaycee L. Holman, known to me to be the Mayor and City
Clerk of the City of Meridian, Idaho, and who executed the within instrument, and acknowledged to me that the City
of Meridian executed the same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year first
above written.
060069*
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(SEAL)40
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Summary of Agreement - 3 ••, 006•
NO Y UBLIC FO IR IDAHO
Residing
Commission Expires:
OAKS REIMBURSEMENT AGREEMENT FOR INFRASTRUCTURE ENHANCEMENT - Page 8
EXHIBIT B
EXHIBIT B
LEGAL DESCRIPTION OF A CERTAIN INDIVIDUAL PROPERTY
WITHIN SBA
(as needed in the future for notice purposes)
Summary of Agreement - 5