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Shakopee City Council
June 18, 2024
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| | | | | | | | | FROM: | Alex Jordan, City Engineer | | TO: | Mayor and Council Members |
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| | | | | | | | Subject:
Right of Entry and Reimbursement Agreement with Canterbury Park Entertainment LLC, for the Canterbury Commons Internal Roadway Improvements. | | |
| | | | | | | | Policy/Action Requested:
Approve a Right of Entry and Reimbursement Agreement with Canterbury Park Entertainment LLC. | | |
| | | | | | | | Recommendation:
Approval of the Agreement | | |
| | | | | | | | Discussion:
At its June 4, 2024 meeting, the City Council awarded a contract to Heselton Construction, LLC for construction of public roadways within the southeast area of the Canterbury Commons development. The public infrastructure improvements were identified with the areawide Transportation Study to provide adequate roadway access and circulation for the development area, including the Ampitheatre.
The City is the lead agency for construction of the public improvements. The project will be funded by the Canterbury Commons Development Tax Increment Fund, via reimbursement from Canterbury Park Entertainment LLC (Canterbury).
The City and Canterbury desire to enter into a Right of Entry and Reimbursement Agreement to establish the reimbursement amounts and duties of each party. The agreement also allows the City to enter Canterbury's property to construct the improvements until the necessary right of way and easements are dedicated to the City for public use. | | |
| | | | | | | | Budget Impact:
The total estimated project cost is $6,061,614.73, which includes construction, street lighting, administration, engineering, legal expenses, fees incurred by the City and project contingencies. The final reimbursement amount will be based on actual project costs upon completion of the improvements. Reimbursement will be made to the City on a monthly basis. | | |
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