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City Council – Staff Report <br />Page 2 <br /> <br />FISCAL IMPACT: 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 and Water Availability and Connection Charges and <br />property taxes at the time of building permit application. <br />OPTIONS: The City Council is being asked to consider the approval of the developer’s agreement and has the <br />following options: <br />1) Adopt Resolution 2024-088 approving the developer agreement for Lake Elmo Townhomes 8; or <br />2) Direct Staff to amend the draft developer agreement to bring back to a future City Council meeting. <br /> RECOMMENDATION: Staff recommends the City Council approve this item adopting Resolution 2024-088 on its consent <br />agenda, or by approving the developer’s agreement for Lake Elmo Townhomes 8 with the <br />following motion: <br />“Move to adopt Resolution 2024-088 approving the developer’s agreement for Lake Elmo <br />Townhomes 8” <br />ATTACHMENTS: <br />• Resolution 2024-088 <br />• Lake Elmo Townhomes 8 - Development Agreement