Consider motion to adopt RESLOUTION authorizing the Mayor to sign a Development Agreement with Parlay Ankeny, LLC, concerning the reimbursement of fifty percent (50%) of the costs related to the preparation, construction, and installation of a traffic signal on SE Delaware Avenue associated with the development of the Copeland Commercial Site Plan.

A Resolution authorizing the Mayor to sign a development agreement between the City and Parlay Ankeny, LLC, to reimburse the Developer for 50% of the costs and expenses, not to exceed $195,638.70, for the installation of a traffic signal at the intersection of SE Delaware Avenue and the private drive approximately 700' north of SE 54th Street. The associated Traffic Study approved by the City, shows that additional traffic generated from the Copeland Commercial Site Plan will require a traffic signal and additional right-of-way improvements at the intersection of SE Delaware Avenue and the private drive approximately 700' north of SE 54th Street.