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STAFF REPORT <br />DATE: May 7th 2024 <br /> CONSENT <br />TO: Mayor and City Council <br />FROM: Sophia Jensen, City Planner <br />AGENDA ITEM: Royal Golf 6th Addition Development Agreement <br />REVIEWED BY: Jack Griffin, City Engineer <br /> Sarah Sonsalla, City Attorney <br /> <br /> <br />BACKGROUND: <br />On April 2nd 2024, the City Council adopted Resolution 2024-038 approving the Final Plat and <br />Final PUD for Royal Golf 6th Addition, this is the final phase of the Royal Golf Development. An <br />executed developer’s agreement is a condition of final plat approval and is required prior to <br />recording the final plat with Washington County. <br />ISSUE BEFORE COUNCIL: <br />The City Council is being asked to approve the developer agreement for Royal Golf 6th Addition. <br /> <br />REVIEW/ANALYSIS: <br />A condition of approval of the Royal Golf 6th Addition Final Plat and PUD is that the developer <br />enter into a Developer’s Agreement prior to the execution of the plat by City officials. The key <br />aspects of the agreement include the following components: <br />• That all public improvements to be completed by October 31, 2025. <br />• That the developer provide a letter of credit in the amount of $2,421,314 <br />• That the developer provide a cash deposit of $501,041 for park dedication, engineering <br />administration escrow, AUAR area fee, WAC and SACs and other related fees. <br />• That the developer provide an additional park dedication of $76,590, a proportionate share <br />of the total per tree parkland dedication fee for the Subdivision based upon the number of <br />Single Family or Villa Lots within the Subdivision <br />Upon execution of this Agreement, receipt of all fees and securities, recording of the final plat and <br />the completion of a Preconstruction meeting with the City, construction can commence. <br />FISCAL IMPACT: <br /> <br />The future financial impacts include maintenance of sanitary sewer mains, watermains and other <br />public infrastructure, maintenance of storm water ponding areas (after warranty period), and other <br />public financial responsibilities typically associated with a new development. The City will collect <br />any necessary building permit fees, Sewer Accessibility Charges and Water Accessibility Charges <br />and property taxes at the time of building permit application.