Council begins talk on developer’s agreement
Among major discussion topics this week by the Beulah City Council was initial talk on a developer’s agreement for proposed development along the 11th St. NE area south of the old Boeckel Trailer court between Parkway Drive and Blackstone Lane
Councilor Kathy Kelsch brought forward a draft developer’s agreement for the area between the city and developer Howard Covert, noting it was important to consider why affordable housing was needed in the city. Kelsch then asked for input from the council on any questions they had regarding its language.
Issues brought up included the amount of funding for infrastructure to be held in eschrow, an indemnity provision, legal and engineering fees and establishing a venue for contract disputes.
Covert noted that there was some expected range in what funding would be placed in eschrow, given the reasonable risk and changes in construction schedules. He added that after the construction bidding process was complete he would have a better defined range of what funding would need to be placed in eschrow, so that risk would be minimized for all parties.
Kelsch motioned to approve the developer’s agreement with the inclusion of issues discussed by legal counsel. Councilor Clyde Schulz seconded and the motion passed. City Attorney Scott Solem advised the councilors to get any and all language changes to him so he could revise the agreement as needed and get it to Covert’s company for review.