HomeMy WebLinkAboutCC Report InWood Developers Agreement 5-19-15
MAYOR & COUNCIL COMMUNICATION
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DATE: 4/19/16 REGULAR ITEM # 18b RESOLUTION 2016-33
AGENDA ITEM: InWood 3rd Addition Developer’s Agreement SUBMITTED BY: Stephen Wensman, Planning Director
THROUGH: Kristina Handt, City Administrator REVIEWED BY: Jack Griffin, City Engineer Sarah Sonsala, City Attorney
Cathy Bendel, Finance Director
SUGGESTED ORDER OF BUSINESS:
- Introduction of Item .....................................Community Development Director
- Report/Presentation………………………...Community Development Director
- Questions from Council to Staff ............................................. Mayor Facilitates
- Call for Motion ............................................................... Mayor & City Council
- Discussion ....................................................................... Mayor & City Council
- Action on Motion .................................................................... Mayor Facilitates
POLICY RECCOMENDER: Staff is recommending that the City Council approve a developer’s agreement associated with the third phase of the InWood development. The agreement has been drafted based on a model agreement previously reviewed by the Council in
January 2016. FISCAL IMPACT: Direct Payments to Developer – None: there are no City payments for oversizing of utilities or for other reasons included in the agreement. Future financial impacts include maintenance of streets, trails, sanitary sewer mains, watermains and other public
infrastructure, maintenance of storm water ponding areas (after three years), monthly lease payments for street lights, and other public financial responsibilities typically associated with a new development. SUMMARY AND ACTION REQUESTED: The City Council is being asked to authorize
execution of a developer’s agreement for the third phase of the InWood Planned Unit Development. The attached agreement has been reviewed by the City Staff, and all recommend
City Council Meeting [Regular Agenda Item 18b]
April 19, 2016
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changes specific to the InWood 3rd Addition project have been incorporated into the document as
drafted. This agreement must be executed before any construction activity, outside of the previously authorized grading work, may proceed on the site. The recommended motion to take action on the request is as follows:
“Move to adopt Resolution 2019-33 approving the developer’s agreement for InWood 3rd Addition” LEGISLATIVE HISTORY/STAFF REPORT: One of the conditions attached to the resolution approving the InWood Final Plat and Plan specifies that the developer enter into a
Developer’s Agreement prior to the execution of the plat by City officials. Staff has drafted such
an agreement consistent with the City’s developer’s agreement master template, and this document is attached for consideration by the City Council. The key aspects of the agreement include the following components:
• That all improvements to be completed by October 31, 2016.
• That the developer provide a letter of credit in the amount of $2,970,468 related to the cost of the proposed improvements.
• That the developer provide a cash deposit of $454,643 for SAC and WAC charges, engineering administration, one year of street light operating costs and other City fees.
The proposed project does not include any specific City payments for utility oversizing or other reasons. The City Engineer has not approved the final construction plans for the project, and no work will be allowed to commence on the site until these plans are approved by the City (this
plan review is close to being completed).
BACKGROUND INFORMATION (SWOT): Strengths: The developer’s agreement has been drafted to guarantee that the
improvements associated with the InWood 3rd Addition development plans will installed in accordance with City specifications.
Execution of the developer’s agreement and compliance with all conditions in the agreement will allow the developer to record the Final Plat.
Weaknesses: The City will assume responsibility for future maintenance of the public
improvements.
Opportunities: The proposed improvements will provide for infrastructure connections to adjacent properties.
Threats: The City will need to provide construction observation throughout the course of the project (these costs will be covered under an Engineering Administration Escrow).
City Council Meeting [Regular Agenda Item 18b]
April 19, 2016
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RECOMMENDATION: Based on the above Staff report, Staff is recommending that the City
Council approve the Developer’s Agreement for InWood 3rd Addition and that the Council direct the Mayor and Staff to execute this document. The suggested motion to adopt the Staff recommendation is as follows:
“Move to adopt Resolution 2016-33 approving the developer’s agreement for InWood 3rd Addition” ATTACHMENTS:
1. Resolution 2016-33
2. InWood 3rd Addition Developer’s Agreement – 4.14.16