CCR2020099-Memo - Cash Dep-Harvest Court
Reports and Presentations to Finance Committee and Common Council
To: Finance Committee & Common Council
From: Scott Kroeger
Department: Public Works and Development
Subject: Reduction of Cash Deposit for Machi Properties BV LLC (Harvest
Court)
Date: November 24, 2020
Machi Properties BV, LLC (Harvest Court) entered into a Development Agreement with
the City to construct Harvest Court. The work associated with the final lift of road
construction for this project has been completed. The recommendation is to reduce the
Cash Deposit to be reduced by $30,624. The Cash Deposit would be reduced from $30,624
to $0.
Key Issues for Consideration: Attachments
1. N/A
Recommendation for Action by Committee and/or Council: Approval that the Machi
Properties BV LLC Cash Deposit to be reduced by $30,624. The cash deposit would be
reduced from $30,624 to $0.
Date of Committee Action: Finance Committee November 24, 2020
Planned Date of Council Action (if required): November 24, 2020
Total $ Needed: N/A
Fiscal Note(s): N/A
$ Budgeted: $0.00
Expenditure Account(s) to Be Used: # N/A
(3/2019)