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<br />FISCAL IMPACT: It is the City’s goal to retain at all times during the subdivision improvements a <br />security amount that is adequate to ensure completion of all elements of the improvements as protection to <br />the city tax payers against the potential of developer default. <br /> <br />RECOMMENDATION: Staff is recommending that the City Council, as part of the Consent Agenda, <br />accept the public offsite sanitary sewer and watermain and approve the security reduction for the Northstar <br />1st Addition Site Improvement Agreement as detailed in the attached worksheet. The security reduction is <br />contingent on the developer being current with all payments and obligations in accordance with the Site <br />Improvement Agreement, including a positive escrow balance as required by the City. If removed from the <br />consent agenda, the recommended motion for the action is as follows: <br /> <br />Motion to accept the public offsite sanitary sewer and watermain and approve the security reduction <br />for the Northstar 1st Addition Site Improvement Agreement as detailed in the Security Reduction <br />Worksheet, contingent on the developer being current with all payments and obligations in <br />accordance with the Site Improvement Agreement, including a positive escrow balance as required <br />by the City. <br /> <br /> <br />ATTACHMENTS: <br /> <br />1. Certificate of Completion – Northstar 1st Addition Site Improvement Agreement <br />2. Security Reduction Worksheet – Northstar 1st Addition Site Improvement Agreement.