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Request for Action <br />To <br />Item Number <br />Mayor and City Council <br />4.11 <br />Agenda Section <br />Meeting Date <br />Prepared by <br />Consent <br />Aril 6, 2015 <br />Zack Carlton, Planner I <br />Item Description <br />Reviewed by <br />Prestigious Woodland Hills Third Addition <br />Cal Portner, City Administrator <br />Development Agreement <br />Reviewed by <br />Action Requested <br />Approve, by motion, the Development Agreement for Prestigious Woodland Hills Third 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 Third 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 later this spring. <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 April 6, 2015 <br />P o w E H E U e r <br />UREJ <br />