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7 <br /> <br />A Master Development Agreement was recorded in March 2019. The Agreement covers the <br />entire 372 acre site and details the terms and conditions of City approvals, the Development <br />Plans, the required public and private improvements as part of the first and subsequent phase, <br />the standards for the timing and financing of the improvements, required HOA documents and <br />the terms of payment. <br /> <br />Development Agreement and Planned Unit Development Agreement <br /> <br />The City will also require our standard Development Agreement specific to each phase of <br />development. This agreement further details required improvements and securities. The City <br />Engineer has drafted this Agreement and it shall be approved by the City Council. <br /> <br />The complete land use application for the 3rd Addition final plat was submitted in February <br />2020 prior to the COVID-19 pandemic. Due to the current economic situation, Lennar is <br />requesting the Development Agreement securities be broken into Phase 3A and 3B. <br /> <br />The 3rd Addition will be completed in 2 phases. 3A has 64 units and 3B has 111 units for a <br />total of 175 units. The Development Agreement includes a Schedule C for each phase. Phase <br />3A shall include the construction of the Stormwater Reuse System, the Trail and Trunk <br />Sanitary Sewer extension to Watermark Way and 20th Avenue. Developer shall post security, <br />in a form acceptable to the City, for all fees and charges in Exhibit C pertaining to Phase 3B <br />that are being deferred until work begins in Phase 3B. <br /> <br />Homeowner’s Association (HOA) <br /> <br />Prior to release of the final plat mylars, Lennar shall submit to the City the applicable HOA <br />documents and annexation amendments. The City Attorney shall review and comment prior to <br />recording. <br /> <br />Title Commitment <br /> <br />The City Attorney has reviewed the title commitment and final plat and notes the title <br />commitment shall be updated. <br /> <br />Stormwater Maintenance Agreement <br /> <br />A recorded Declaration for Maintenance of Stormwater Facilities between RCWD and Lennar <br />covers Ponds 100, 200, 300 and 20. These stormwater facilities and Pond 400 will be <br />eventually covered under the City’s Programmatic Stormwater Management Agreement after <br />they have been installed and accepted by the City <br /> <br />A recorded stormwater declaration is required for the private facilities in the townhome area. <br />The current declarations include additional facilities that in the future will be covered by the <br />City’s Programmatic agreement in the future. <br /> <br />Findings of Fact <br />