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(b) For plats that consist solely of individual single family residential lots, final plat <br />applications for subsequent phases shall not be approved until building permits have <br />been issued for 40% of lots in the preceding phase. This division applies only when the <br />preceding phase consists of 40 or more lots; and <br />Not applicable. This is a one (1) lot commercial subdivision. <br />(c) Conditions attached to approval of the preliminary plat shall be substantially fulfilled or <br />secured by the development agreement, as appropriate. <br />The conditions of the preliminary plat have been substantially fulfilled. Securities will be <br />required with a Development Agreement. <br />Public Land Dedication <br />The City will collect a cash fee in lieu of land dedication for commercial development at the <br />time of final plat. <br />Otter Crossing South <br />4.08 acres x $2,600 per acre = $10,608 <br />Title Commitment <br />The City Attorney reviewed the title commitment and notes that a conveyance from <br />VoranDeSoto LLC to CLino is required. <br />Agreements <br />• Stormwater Maintenance Agreement <br />The storm water facilities will be privately maintained and a Declaration for Maintenance of <br />Stormwater Facilities will be required. <br />• Development Agreement <br />A Development Agreement will be prepared by the City. <br />• Site Improvement Performance Agreement <br />A Site Improvement Performance Agreement will be required for the ALDI grocery store. <br />Findings of Fact <br />