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8 <br />Sheet 3, Watermark 8th Addition Site Landscape Plan details the location of required “Protected <br />Open Space Area” signs. <br />Development Agreement <br />Master Development Agreement <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 />Development Agreement and Planned Unit Development Agreement <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 will draft this Agreement and it shall be approved by the City Council. <br />Homeowner’s Association (HOA) <br />The City Attorney reviewed the HOA and other recording documents. The attorney notes the <br />Open Space Easement to the City for Outlot A shall be recorded before the Quit Claim Deed <br />from U.S. Home to the Association. <br />Title Commitment <br />The City Attorney reviewed the title commitment and final plat and had no additional <br />comments. <br />Stormwater Maintenance Agreement <br />The stormwater facilities will be covered under the City’s Programmatic Stormwater <br />Management Agreement after they have been installed and accepted by the City. <br />Findings of Fact <br />The Findings of Fact for Watermark 8th Addition PUD Final Plan/Final Plat are detailed in <br />Resolution No. 24-115. <br />RECOMMENDATION <br />The Planning & Zoning Board reviewed the Watermark 8th Addition PUD Final Plan/Final Plat on <br />August 14, 2024 and recommended approval with a 6-0 vote.