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�i <br /> EOty lk Request for Action <br /> River <br /> To Item Number <br /> Mayor and City Council 4.9 <br /> Agenda Section Meeting Date Prepared by <br /> Consent July 7, 2014 Zack Carlton,Planner I <br /> Item Description Reviewed by <br /> Prestigious Woodland Hills Second Addition Jeremy Barnhart,Deputy Director, CODD <br /> Development Agreement Reviewed by <br /> Cal Portner, City Administrator <br /> Action Requested <br /> Approve,by motion, the Development Agreement for Prestigious Woodland Hills Second Addition. <br /> Background/Discussion <br /> The conditions imposed by the City Council for the approval of the resolution for the Final Plat of <br /> Prestigious Woodland Hills Second Addition include a requirement that a Development Agreement be <br /> signed. The agreement outlines the costs and responsibilities to the satisfaction of the city attorney. <br /> Staff and the attorney drafted a Development Agreement outlining these responsibilities, and are seeking <br /> Council approval. The applicant proposed no changes and signed the agreement. Construction is <br /> expected to begin in early July. <br /> The Development Agreement closely follows our standard agreement, and outlines required security in <br /> the form of a Letter of Credit and escrow deposits. <br /> Financial Impact <br /> None <br /> Attachments <br /> ■ Development Agreement dated June 24, 2014 <br /> POWERED By <br /> ATURE <br />