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<br /> <br />Request for Action <br /> <br /> <br />To Item Number <br /> <br />Mayor and City Council 4.6 <br />Agenda Section Meeting Date Prepared by <br /> <br />ConsentMarch 6, 2017Zack Carlton, Planning Manager <br />Item Description Reviewed by <br />Prestigious Woodland Hills Fourth Addition Cal Portner, City Administrator <br />Development Agreement <br />Reviewed by <br /> <br /> <br />Action Requested <br /> <br />Approve, by motion, the Development Agreement for Prestigious Woodland Hills Fourth Addition. <br /> <br />Background/Discussion <br /> <br />The conditions imposed by the City Council for the approval of the resolution for the Final Plat of <br />Prestigious Woodland Hills Fourth Addition include a requirement of a signed Development Agreement. <br />The agreement outlines the costs and responsibilities to the satisfaction of the city attorney. <br /> <br />Staff and the attorney drafted a Development Agreement outlining these responsibilities, and are seeking <br />Council approval. The applicant proposed no changes and construction is expected to begin as soon as <br />road restrictions are removed. <br /> <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 /> <br />Financial Impact <br /> <br />None <br /> <br />Attachments <br /> <br /> <br /> <br />Development Agreement dated March 6, 2017 <br /> <br /> <br />