8408 18TH AVE W 2016-01-01 MF Import

r , , May 5, 1981 McKellar Development Co: poration ATTN: Dieter Rademacher, Mana�er 3323 5ahalee Dr. West Redmnnd, P/A 98052 Subjects Payment oi Funds P'ursuant to City oi Gverett Ord'inance No. Sj6-78 and the Trafflc Impact Nitlgatlon Agreem::nt for Caslno Road Dear Mr. Rademacher: We have prepared this letter ln response to your rcquest Yor claritication of the Caslno Road assessment agalnst Cascade VIllagc Park PhaEa I. At the time Phase I permlis ware Issi�ed, exact Sewer Interceptar Fees, al�though required as a result of the environmental revlew, were not oiffclally establlshed by City Cowcil. During your constructlon phase� these fees were establlshed and levied against your proJect. (See attached chronology ier detatls) NeazIng compledon of Phase 1, you requested finai Inspectlun� e4c. leading to the issuanr.e of Certificates of Occupancy. Dur�ng thls revlew, it was discc+vered that sewer connection fees had not been pald, said ic�es relatir.g to the South End Sewer Interceptor program. As these were unanticipated costs, you requested that the bond fo; 18th Ave. be released, thus freeing up funds to pay the sewer Sees. A.:i error was made by the Ctty� and the Czsino Road fees you had �.rovlded by letter of payment guaeantee were lnadvertantiy releasad rather than the bond for street improvements as you requested. You then applled these funds to paymen' of the Sewer assessmen� However, this release leaves McKellar in arreazs on paymen4 of the Casin� Road assessment $44,070.00. ,qs was discwsed in the meeting, the City has notified the other developere on Casino Road that satisfled thair obIIgation by letter of payment guarantee that tnelr payment wlll be req»lred on or before 7we 3, 1981. It �.•as yow response that you would need until the end of June. 1'he end of June is acceptable to the Clty provided Interest ls paid at a rate of 12% beginnIng on J�me 3, 19810 Therefore, If by July 1, 1981, you pay to the City oi Everett $44�070.00 plu.. $408.80 interest iZ8 days, 7une 3- July 1, or to an earlier date of payment) the City will consIder your developfnent in compliance wlth the agreement yau slgned on for Phase 1 of Cascade Village Park. We apologize Sor any Inconvenlence our error muy have caused you and appre- _ ::tate the tlme you and your people spent here on Aprll 30, 1981 to resol��e the problems that developed. if you have any 4�estions regarding thi:'t rnattn.;, please ccntact Lon Maynerry at 254-88(1. Sinceraly, AtFRED R. THEAL Pubiic Works Director Byt �r - P t oor� '_� 7JP:LM:mh " ��osure 4"