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1 <br /> <br />CITY COUNCIL <br />AGENDA ITEM 6A(ii) <br /> <br />STAFF ORIGINATOR: Michael Grochala, Community Development Director <br /> <br />MEETING DATE: September 26, 2016 <br /> <br />TOPIC: Consider Resolution No. 16-110, Approving Development <br />Agreement, Clearwater Creek Business Park <br /> <br />VOTE REQUIRED: 3/5 <br /> <br />INTRODUCTION <br /> <br />Staff is requesting City Council consideration to approve a Development Agreement with United <br />Properties for the Clearwater Creek Business Park. <br /> <br />BACKGROUND <br /> <br />The Clearwater Creek Business Park PUD Development Staging Plan/Preliminary Plat was <br />approved on July 25, 2016. Consideration of the Final Plat/Final Plan by the City Council is <br />being considered by the City Council on September 26, 2016. Approval of the Final Plan and <br />Plat includes a condition requiring execution of a development contract between the developer <br />and City. <br /> <br />The agreement provides for the following: <br /> <br />1. Submittal by the developer of securities in the amount of $840,505 for on-site (private) <br />improvements and $1,277,468 for off-site (public improvements). <br />2. Payment of development fees totaling $611,021 including park dedication fees of <br />$60,574 and trunk sewer and water fees of $464,230. <br />3. Deposit of a cash escrow in the amount of $118,712 to reimburse City for costs incurred <br />for plan review, legal review and engineering inspection services for on-site and off-site <br />improvements. <br />4. Provision of required easements listed under the conditions of approval. <br /> <br />United Properties, has reviewed the contract and is aware of the requirements set forth in the <br />agreement. <br /> <br />RECOMMENDATION <br /> <br />Staff is recommending approval of Resolution No. 16-110. <br /> <br />ATTACHMENTS <br /> <br />1. Resolution No. 16-110 <br />2. Development Agreement