Title
Consider a resolution authorizing the Mayor to execute a Development Agreement with the owners of Quick Farm regarding the conveyance to the City of two tracts of land within the Quick Development as satisfaction of City parkland dedication requirements.
Body
The development agreement is between the City and the Quick family, owners of 61.78 acres of land which borders City park land north of Old Settlers Boulevard and east of Settlement Drive. Approximately 27.07 acres of this land was recently zoned for multi-family, office and commercial uses, along with 26.10 acres the Quick family since conveyed to Milestone Builders for a single family development.
The purpose of the agreement is to convey, in fee simple to the City, two tracts of land owned by the Quick family for use as park land and a hike and bike trail. The conveyance will satisfy City parkland dedication requirements for development of both the Quick property and the Milestone development.
The land to be conveyed is two separate tracts, one containing 5.84 acres and one containing 1.16 acres. The properties will be conveyed within 45 days after the approval of this agreement.