06-12-2013 Council Agenda - Laserfiche WebLink

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• The developer has agreed to a build -out schedule that requires four homes completed by 12/31/13, 10 by 12 /31 /14,and 15 by 12/31/15. • The Developer will be responsible for building permit fees including WAC & SAC (city and MCES), park charges, plumbing permits, electrical permits and all typical permits needed as part of the normal course of new home construction. These costs do not count toward the $100,000 per lot cost. • The Developer can pull permits for new homes on any lots as soon as the plat and development agreement are executed. No occupancy permits will be granted until the first lift of asphalt is installed. Should there be conflicts between the construction of houses and public improvements, the public improvements shall take priority. • The Developer will receive credit towards the $100,000 per lot costs for contributed equity associated with property acquisitions, demolitions, real estate taxes, platting costs, and other related development costs. He will also be credited for interest associated with these costs at 4% from the date incurred. (Note: This is a reduction from the 6.5% contemplated in our initial agreement.) • There will be no offsetting costs charged to the prospective ghost plat area from the initial Pinetree Pond project. • Outlot C will be dedicated to the City. • Outlot D will be deeded to Gloria Acosta at no cost to her. • Outlots A & B will be sold the McCumbers and Paddocks, respectively and the revenues generated deducted from the Developer's contributed capital. • Developer will included a covenant for each of the Pinetree Pond lots that states the owners, as a condition of purchase, are "deemed in favor" of any future extension /subdivision of the ghost plat area utilizing Outlot C for street purposes. • There will be no costs associated with the development of the ghost plat area assessed to or due from any Pinetree Pond property owner as part of the initial development of the ghost plat area. Subsequent work (streets /utilities) after the project is initially constructed and accepted shall be assessed according to city policy. Should you have any comments or questions regarding these provisions, please let me know.