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STAFF REPORT <br />DATE:October 21, 2025 <br />CONSENT <br />TO: Mayor and Councilmembers <br />FROM: Sophia Jensen, Senior City Planner <br />AGENDA ITEM: Approve Development Agreement for Inwood Townhomes 1st Addition <br />REVIEWED BY: Jack Griffin, City Engineer <br /> Sarah Sonalla, City Attorney <br /> Jason Stopa, Community Development Director <br />CORE STRATEGIES: <br />☐ Vibrant, inclusive, connected community ☐ Efficient, reliable, innovative services <br />☐ Responsive, transparent, adaptive governance ☐ Balanced Finances now and future <br />☒ Managed Growth ☐ Resilient Infrastructure <br />BACKGROUND: <br />On October 7th 2025, the City Council adopted Resolution 2025-067 approving the Final Plat and <br />Final PUD for Inwood Townhomes 1st Addition. An executed developer’s agreement is a <br />condition of final plat approval and is required prior to recording the final plat with Washington <br />County. <br />ISSUE BEFORE COUNCIL: <br />The City Council is being asked to approve the development agreement for Inwood Townhomes <br />1st Addition. <br />REVIEW/ANALYSIS: <br />A condition of approval of the Inwood Townhomes 1st Addition Final Plat 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, 2027. <br />That the developer provide a letter of credit in the amount to be determined once all <br />construction costs are reviewed related to the cost of the proposed improvements. Staff is <br />asking in the resolution for authority to add or modify that completed Exhibit C once it is <br />available. <br />That the developer provide a cash deposit for engineering administration escrow, WAC <br />and SACs and other related fees.