City of Monticello, Iowa
RESOLUTION #2025-103
Finally, Acceptance of Northridge Estates Fifth Addition Improvement Project, and Releasing Retainage in the amount of $92,700.00 to Highland Corporation
WHEREAS, the City of Monticello, Iowa is an incorporated city within Jones County, Iowa; and
WHEREAS, the Council entered into an agreement (the “Development Agreement”) with Highland Corporation (the “Developer”) with respect to the construction of a 12-lot single family home subdivision on Lot 2 of Northridge Estates 3rd Addition, a portion of the tract of land having PIN 0216300045 to the City of Monticello, County of Jones, State of Iowa, with Resolution #2024-155 dated October 21, 2024 and
WHEREAS, the Development Agreement would provide financial incentives to the Developer in the form of payments for a portion of the public infrastructure necessary to construct the subdivision, and
WHEREAS, City Engineer has reviewed the final improvements and find the improvements to be acceptable and in general conformance with the contract documents, and
WHEREAS, Highland Corporation requests the Council to accept the project as complete, release the retainage in the amount of $92,700.00, and
WHEREAS, The Council finds it appropriate to recognize the project as complete and to accept same, to release the retainage in the amount of $92,700.00.
NOW THEREFORE, BE IT RESOLVED that the City Council of Monticello, Iowa does hereby finally accept the Northridge Estates Fifth Addition Improvement Project as complete, approve payment of retainage to Highland Corporation in the amount of $92,700.00.
IN THE TESTIMONY WHEREOF, I have hereunto subscribed my name and caused the Great Seal for the City of Monticello, Iowa to be affixed. Done this 21st day of July 2025.
Wayne Peach, Mayor
Attest:
Sally Hinrichsen, City Clerk/Treasurer