HomeMy WebLinkAboutInvoice_CITY_offsite lights V1E IDI� 11
APPROVED [EMENT TO ACCEPT PAYMENT IN LIEU OF INSTALLING STREETLIGHT
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08/03/22 I AT
%U 1B,R FPS z 22 1 CACHE CREEK SUBDIVISION
THIS AGREEMENT for streetlight installation, made this _ 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 Challenger Development Inc.,
1977 E. Overland Road, Meridian, ID 83642 (hereinafter "Challenger").
WHEREAS, Challenger has received from City, conditional approval of the Final Plat for the
Cache Creek Subdivision, Case No. FP-2021-0028; and,
WHEREAS, One of the Site Specific Conditions of Approval of City's approval of FP-2021- 0028;
is to install streetlights on all public roadways per the City of Meridian Improvement Standards for
Street Lighting; and,
WHEREAS, Challenger is currently unable to install the required streetlights on S. Locust Grove
Road and E. Victory Road in front of the Cache Creek Subdivision because S. Locust Grove Road and
E. Victory Road have not been built out to its ultimate width; and,
WHEREAS, once the S. Locust Grove Road and E. Victory Road are improved, City is willing to
install the required streetlights if Challenger has paid to City the estimated amount necessary to
install the streetlights.
NOW THEREFORE, THE PARTIES AGREE AS FOLLOWS:
1. Challenger shall pay to City the amount of $42,325.00 as the amount necessary to supply and
install five (5) type 1 streetlights.
2. City agrees to accept the amount set forth in Article 1 in lieu of requiring Challenger to install
the five (5) streetlights on S. Locust Grove Road and E. Victory Road in front of the Subdivision.
3. Upon payment of the amount in Article 1 by Challenger to City, Challenger's requirement to
install the five (5) streetlights on S. Locust Grove Road and E. Victory 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 Challenger of Challenger'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.
Challenger Development, Inc. CITY OF MERIDIAN
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APPROVED
)AT 08/03/22 `Barton, Man
By
Robert E. Simison, Mayor