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Development Agreement <br />•A condition of approval of the North Star 3rd Addition Final Plat is that the <br />developer enter into a Developer’s Agreement prior to the execution of <br />the plat by City officials. The key aspects of the agreement include the <br />following components: <br />•That all public improvements to be completed by October 31, 2027. <br />•That the developer provide a letter of credit ($1,242,000) <br />•That the developer provide a cash deposit for engineering <br />administration escrow, AUAR area fee, WAC and SACs and other <br />related fees ($262,215)