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HATFIELD DEVELOPMENT COMPANY, INC. - <br />DEVELOPER'S AGREEMENT - <br />INDIAN RIVER SQUARE TARGET STORE <br />The Board reviewed a Memorandum of October 25, 1995: <br />TO: James E. Chandler, <br />County Administrator <br />FROM: James W. Davis, P.E., DATE: October 25, 1995 <br />Public Works Directo <br />SUBJECT: 1) Developer's Agreement to Construct Two Westbound Right -Turn Lanes <br />and Related Improvements Along SR60 West of 58th Avenue and; <br />2) Installation of a Traffic Signal at the northern Entrance on 58th Avenue <br />- Indian River Square <br />DESCRIPTION AND CONDITIONS <br />Hatfield Development Company, Inc will be developing a Target Retail Store in the <br />Indian River Square Shopping Center located north of SR60 west of 58th Avenue. <br />The Developer has agreed to construct two westbound right turn lanes and other <br />related improvements along SR60. The Developer will fund 100% of the cost of the <br />two right turn lanes and other related improvements. <br />Also, the Developer has agreed to install a traffic signal at the project's northern <br />driveway on 58th Avenue in accordance with the specifications of the Department <br />of Public Works, The Developer will fund 100% of the cost of said signal, if and <br />when the County staff determines that one is needed and should be installed. <br />Two agrreements are proposed. <br />ALTERNATIVES AND ANALYSIS <br />The following alternatives are as follows: <br />Alternative No. 1 <br />Approve the Developers Agreements and authorize the Chairman's <br />signature. No funding will be required by the County. <br />Alternative No. 2 <br />Not approve the agreements. <br />RECOMMENDATIONS AND FUNDING <br />Alternative No. 1 is recommended. The Project will be .funded 100% by the <br />Developer. <br />ON MOTION by Commissioner Eggert, SECONDED by <br />Commissioner Bird, the Board (by a 4-0 vote, <br />Commissioner Tippin being temporarily absent) <br />unanimously approved the Developer's Agreements with <br />Hatfield Development Company, Inc., as recommended <br />by staff. <br />AGREEMENTS ARE ON FILE IN THE OFFICE OF THE <br />CLERK TO THE BOARD <br />NOVEMBER 7, 1995 49 Boa 96 PAF 562 <br />