I-4 - Resolution 2025-049 - Approving Updated Escrow Agreement - 80-380 Commerce Park First Addition

RESOLUTION NO. 2025-049 A RESOLUTION APPROVING THE UPDATED ESCROW AGREEMENT FOR 80/380 COMMERCE PARK FIRST ADDITION Whereas, 80/380 Commerce Park, LLC, has requested the City enter into an escrow agreement prior to completion of the all the improvements in the subdivision and required by the subdivision; and, Whereas, the final plat is found to conform with all of the requirement of the City’s Ordinances and Subdivision Agreement with the exceptions noted in the escrow agreement attached, Now, therefore be it resolved by the City Council of the City of Tiffin, Iowa to approved the updated attached escrow agreement for 80/380 Commerce Park, LLC, and maintain the existing authorization of the Mayor and City Clerk to execute the documents necessary to approve the final plat as submitted and as approved by the City Engineer and City Attorney, but, as a condition of its approval, the approval of the final plat is contingent on the following: 1) 80/380 Commerce Park, LLC, executing the attached escrow agreement; 2) Execution by the Subdivider and other necessary parties of all other documents required by the Subdivision Ordinance or Subdivision Agreement, including easement agreements as was approved at the April 15, 2025, City Council Meeting. The final plat may not be recorded and no lots may be constructed upon or transferred until these contingencies have been completed. On the 6th day of May, 2025, at a regular meeting of the Tiffin City Council, Tiffin, Iowa, Councilperson _____ introduced RESOLUTION NO. 2025-049, A RESOLUTION APPROVING THE UPDATED ESCROW AGREEMENT FOR 80/380 COMMERCE PARK FIRST ADDITION and made a motion for approval. Motion seconded by Councilperson _____. Ayes: Nays: Absent: Whereupon _____ Council members were present and voted approval and Mayor Kasparek declared that the RESOLUTION NO. 2025-049, A RESOLUTION APPROVING THE UPDATED ESCROW AGREEMENT FOR 80/380 COMMERCE PARK FIRST ADDITION to be adopted and signified his approval of the same by affixing his signature thereto. Passed by the City Council on the 6th day of May, 2025. City of Tiffin ____________________________ Tim Kasparek, Mayor ATTEST: ________________________________ Abigail Hora, City Clerk