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3 <br />(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 />This is a two (2) lot residential subdivision that will be platted in one phase. <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 cash in lieu of land dedication for one (1) new lot. The lot had an existing <br />house that was recently demolished and will not be charged a park dedication fee. <br />Park Dedication Fees <br />Total # of Lots =1 <br />x 2025 Park Dedication Fee $3,500 <br />= Total Due $3,500 <br />Title Commitment <br />The City Attorney has reviewed the title commitment and final plat and has no comments. <br />Agreements <br />•Stormwater Maintenance Agreement <br />No stormwater maintenance declaration agreement is required for this site. <br />•Development Agreement <br />A Development Agreement will be prepared by the City. <br />Findings of Fact <br />City Code Section 1001.057 (2) details requirements that shall be met before consideration of <br />the final plat by the City Council. The attached resolution details these findings of fact. <br />Page 268 of 353