City of Monticello, Iowa
RESOLUTION #2025-125
Approving Pay Request #1 to Roger Stephen, Re: Stephen Addition
Trunk Sewer Project in the amount of $315,593.21
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 Roger Stephen (the “Developer”) with respect to the construction of a regional sanitary sewer improvement, from Kitty Creek extending westerly to South Main Street, in the City of Monticello, County of Jones, State of Iowa, with Resolution #2025-99 dated July 21, 2025 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, Roger Stephen has submitted the first pay request in the gross amount of $450,847.44 which, after reducing same by the contractually agreed upon 30% retainer, reduces the current amount due to $315,593.21, and
WHEREAS, The Council finds that the pay request is supported by the work completed and that the City Engineer has recommended approval of said pay request.
NOW THEREFORE, BE IT RESOLVED that the City Council of Monticello, Iowa does hereby approve the first pay request from Roger Stephen in the amount of $315,593.21, same reflecting the maintenance of a 30% retainer in the current amount of $135,254.23.
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 15th day of September 2025.
Wayne Peach, Mayor
Attest:
Sally Hinrichsen, City Clerk/Treasurer