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eavO 9. <br /> REQUEST FOR COUNCIL CONSIDERATION Agenda Section: <br /> STAFF REPORT Report Number: 95-1231WS <br /> AGENDA SESSION DATE February 6, 1995 Report Date: 2-2-95 <br /> DISPOSITION <br /> Item Description: <br /> Discussion of Development Request 95-99, SHerwood Estates <br /> Administrator's Review/Recommendation: <br /> - No comments to supplement this report A—,,,A—,ao <br /> - Comments attached. <br /> Explanation/ unnmary_Cat chsvpple : •• s_a- a•cessary.) <br /> SUMMARY; <br /> Attached for your review is a draft of Development Agreement 95-99 for the <br /> Sherwood Estates development project. The language in this draft has been <br /> reviewed by the City Attorney and found to be appropriate for the scope of <br /> the project. <br /> For your information: <br /> * Paragraph 1, Exhibit 1 - A copy of the Plat will be made <br /> part of the D.A. file (the size of the Plat precludes Staff <br /> from including it as an attachment) . <br /> * Paragraph 1, Exhibit 2 - Same as above. <br /> * Paragraph 1, Exhibit 3 - The amount of the Performance Bond <br /> will be determined by our Engineers' estimate of the total <br /> project cost (public improvements) . The Bond will be 125% <br /> of that estimated amount. <br /> * Paragraph 1, Exhibit 4 - The additional stipulation is a <br /> restatement of the requirement contained in the City Council <br /> Resolution which originally approved the project. <br /> * Paragraph 14 - The Performance Bond referenced here is the <br /> same as that referenced in Paragraph 1 as Exhibit 3 . Again, <br /> the Bond will be 125% of the estimated construction costs of the <br /> public improvements. <br /> The City Attorney will be present Monday evening to answer any questions <br /> the Council may have regarding the D.A. <br /> Paul Harrington, Community Develoment Coordinator <br /> J{ECOMMENDATION; <br />