11-26-2018 Council Meeting Packet

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122529 3. Public/Park Dedications/Article VIII Article VIII establishes and imposes park dedication requirements over the total project. Section 8.1 calls out the park dedication fee. As a condition of initial development, the Developer will place a deed for the public park in escrow. The deed will be delivered to the City and recorded once the Council awards the contract for the Peltier Lake Outlet. The Developer will be credited for the value of the land (approximately 5 acres) once the deed is recorded. This Article also requires the construction of trails throughout the development as depicted on the Parks and Open Space Plan, and requires the construction of private parks as indicated on this plan. The Developer will be given park dedication credit for the private parks. Club House/Article IX Article IX requires the construction of a clubhouse once 518 building permits have been issued. Fees and Credits/Article X Article X establishes the varied fees that will apply to the overall Development. They include trunk sanitary and sewer accessibility charges, trunk water and water availability charges, and surface water management charges. The sanitary and water charges are imposed on a phase-by- phase basis. The surface water management charge is being secured by special assessments and further secured by letters of credit in the amount of the assessment balances. The letters of credit will be reduced as assessments are paid. As a future phase is approved, the Developer will be required to pay the balance of the assessments for that phase. Homeowner’s Association/Article XI Article XI requires the creation of a Master Homeowner’s Association and Neighborhood Associations. The City has the right to review and approve the Covenants of the Association(s) to assure they contain terms that may be required by the Master Development Agreement. Section 11.2 given the City the right to step in and perform maintenance to common areas within the Development if the responsible association fails to maintain them. The City can assess its costs of doing so. Environmental/Article XII Article XII acknowledges the approved AUAR, and requires the Developer to deal with wetland impacts as required by pertinent regulation.