Details from Hawkins Preliminary Development Agreement

Some interesting details from the Hawkins Companies/Whitman County Preliminary Development Agreement signed today:

Item 1.a....while both parties currently anticipate that the Improvements will include water and sewer systems, the list of Improvements to be built and purchased under this agreement may be modified, if an alternative source of water and or sewer(s) is found and both parties agree to this change.

Hmmmmmmmm. Now I really believe that the Moscow City Council will vote tonight to extend water and sewer services to the Hawkins development.

Item 1.c. County shall reimburse Hawkins for the cost of the Improvements...

Item 1.d. The Improvements shall be the property of the County....

Item 1.e. The Final Development Agreement referenced above shall terminate upon completion of the Improvements and acceptance thereof by the county...

Item 3. Hawkins will dedicate to the County without reimbursement all roads shown and labeled as "Right of Way" on the site plan.

Item 4. Hawkins will transfer its interest in sufficient water rights for use in the Development to the County at no charge to the County.

Item 6. Hawkins will guarantee, during years 3 through 7 after the start of construction for the Development ("Guarantee Period"), that one percent (1%) of the yearly sales tax, when combined with $1.50 per $1000.00 of assessed value of Real Property Tax in the Develpoment shall be adequate to service the Bond Debt. This guarantee will take the form of a personal guarantee of Mr. Gary Hawkins, the Owner of the Hawkins Companies LLC. If the sales tax and property tax are not sufficient to service the Bond Debt during any year within the Guarantee period, Mr. Gary Hawkins will pay such insufficiency in a cash payment to the County due within 60 days of the date that it is determined that the revenue for the year has not met the guaranteed level. If Mr. Gary Hawkins does pay some amount to the County pursuant to this guarantee, the County shall pay that amount back to Mr. Gary Hawkins within 60 days of the date that funds in excess of the funds needed to service the bond debt are received by the County.

Item 7. On the Development site, Hawkins will build a rural fire station and donate the land and building to Fire District 12.