Resolutions-2025-068

RESOLUTION NO. 2025- 068 A RESOLUTION FOR THE PARTIAL RELEASE OF THE ESCROW FOR THE TIFFIN WEST IMPROVEMENTS Whereas, The City approved the Final Plat of Tiffin West —Phase 1, on February 4, 2025; and, Whereas, with the approval of the final plat, an escrow agreement with Honey Lane Development was also approved in the amount of S473,60, 281. for certain on -site and off -site improvements; and, Whereas, a walk- through of Phase 1, has been performed that substantially completed the stated improvements in the escrow agreement. Now, therefore be it resolved by the City Council of the City of Tiffin, Iowa, based on the recommendation of the City Engineer and City Staff, to partially release S397, 10 508. to Honey Lane Development from the original escrowed amount of 5473, 60. 281. On the 17th day of June, 2025, at a regular meeting of the Tiffin City Council, Tiffin, Iowa, Councilperson Limkemann introduced RESOLUTION NO. 2025- 067,A RESOLUTION FOR THE PARTIAL RELEASE OF THE ESCROW FOR THE TIFFIN WEST IMPROVEMENTS and made a motion for approval. Motion seconded by Councilperson Schnedler. Ayes: Olney, Schnedler, Limkemann, Havens, Orris, Nays: None. Absent: None. Whereupon five Council members were present and voted approval and Mayor Kasparek declared that the RESOLUTION NO, 2025- 067,A RESOLUTION FOR THE PARTIAL RELEASE OF THE ESCROW FOR THE TIFFIN WEST IMPROVEMENTS to be adopted and signified his approval of the same by affixing his signature thereto. Passed by the City Council on the 17th day of June, 2025. City of Tiffin Tim Kasparek, Mal ATTEST: Abigail Hod, City Clerk.