HomeMy WebLinkAboutTriple D Development, Inc. Prevail No. 3 Subdivision Payment in Lieu of Streetlights Item#7.
AGREEMENT TO ACCEPT PAYMENT IN LIEU OF INSTALLING STREETLIGHT
AT
PREVAIL NO. 3 SUBDIVISION
THIS AGREEMENT for streetlight installation, made this 30th day of November, 2021 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 Triple D. Development Inc.,
P.O. Box 1115, Meridian, ID 83680 (hereinafter"Triple D").
WHEREAS, MWT has received from City, conditional approval of the Final Plat for the Prevail
No. 3 Subdivision, Case No. FP H-2021-0044; and,
WHEREAS, One of the Site Specific Conditions of Approval of City's approval of FP H-2021-
0044; is to install streetlights on all public roadways per the City of Meridian Improvement Standards
for Street Lighting; and,
WHEREAS, Triple D is currently unable to install the required streetlight on S. Meridian Road
in front of the Prevail No.3 Subdivision because S.Meridian Road has not been built out to its ultimate
width; and,
WHEREAS, once the S. Meridian Road is improved, City is willing to install the required
streetlights if Triple D has paid to City the estimated amount necessary to install the streetlights.
NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS:
1. Triple D shall pay to City the amount of$8,465.00 as the amount necessary to supply and
install one (1)type 1 streetlight.
2. City agrees to accept the amount set forth in Article 1 in lieu of requiring Triple D to install
the one (1)streetlight on S. Meridian Road in front of the Subdivision.
3. Upon payment of the amount in Article 1 by Triple D to City,Triple D's requirement to install
the one (1) streetlight on S. Meridian Road 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 Triple D of Triple D's 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.
Trip4DouglasvR.
lent,Inc. CITY OF MERIDIAN
By: BY
Mer, Manager Robert E.Simison, Mayor 11-30-2021
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