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Request for Action <br />To <br />Item Number <br />Mayor and City Council <br />4.3 <br />Agenda Section <br />Meeting Date <br />Prepared by <br />Consent <br />December 5, 2022 <br />Zack Carlton, Community Development Director <br />Item Description <br />Reviewed by <br />Release of Development Contracts: Cherryhill <br />Cal Portner, City Administrator <br />Bluffs, Hillside Crossing South, and Oak Parc <br />Reviewed by <br />Plaza <br />Action Requested <br />Approve, by motion, the release of development contracts, as outlined in the attached document. <br />Background/Discussion <br />The city enters a development contract with developers when public infrastructure will be installed as part of their <br />project. These contracts outline the inspection and review processes for the public infrastructure, the securities <br />required of the developer, and the warranty period. Releasing the developers from these contracts is generally done <br />at the request of the developer. <br />The developer and the title company have asked the city to release the developer from the obligations outlined in <br />four separate development contracts. These projects, Cherryhill Bluffs, Hillside Crossing South, and Oak Park Plaza <br />were completed between 1993 and 1996, and the obligations of the developer have been met. <br />Staff recommends approval of the attached document releasing the development contracts as outlined. <br />Financial Impact <br />None <br />Mission/Policy/Goal <br />Support the growth and development of the community. <br />Attachments <br />Recording Document <br />Development Contracts <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires pi ospei ly. <br />M <br />TUREJ <br />Updated.• August 2020 <br />