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City of <br />Elk* <br />River <br />Request for Action <br />To <br />Item Number <br />Mayor and City Council <br />7.2b <br />Agenda Section <br />Meeting Date <br />Prepared by <br />Public Hearin s <br />March 15, 2021 <br />Zack Carlton, Planning Manager <br />Item Description <br />Reviewed by <br />Final Plat and Development Agreement: Reserve at <br />Cal Portner, City Administrator <br />Woodland Hills <br />Reviewed by <br />Action Requested <br />Adopt, by motion, a resolution approving the Final Plat of Reserve at Woodland Hills with the following <br />conditions: <br />1. A Development Agreement must be signed by the city and developer prior to releasing the final <br />plat for recording. <br />2. Park Dedication shall be paid in the amount required by the city when the final plat is released for <br />recording (currently $1,425.93/lot). <br />3. Water Availability Charge shall be paid in the amount required by the city when the final plat is <br />released for recording (currently $383/plumbing unit). <br />4. A Letter of Credit shall be provided to the city in the amount of 100% of the costs of the public <br />improvements. <br />Upon completion of all improvements and acceptance by the city, a security or warranty in a form <br />acceptable to the city engineer must be secured. <br />Development Plan shall be approved by the city engineer prior to issuance of building permits. <br />Staff approval of all updated site and engineering plans. <br />Any item or condition found that indicates the site is likely to yield information important to pre <br />history or history shall be reported to the city immediately. Further, the city reserves the right to <br />stop work authorized in its approval until the site is appropriately investigated and work is <br />authorized. <br />Approve, by motion, the development agreement for Reserve at Woodland Hills. <br />Background/Discussion <br />The Preliminary Plat of Reserve at Woodland Hills includes eight buildable lots. The City Council is asked <br />to consider approval of the final plat and development agreement along with the preliminary plat. The <br />final plat is consistent with the preliminary plat and meets all city ordinances. <br />The development agreement follows our standard agreement language, and outlines required security in <br />the form of a Letter of Credit and escrow deposits. <br />Financial Impact <br />None <br />A IR <br />