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Staff has reviewed the requested revisions and finds them to be reasonable. It is not uncommon for a limited <br />partnership to be formed to act as property owner and identifying that partnership as the Permittee is acceptable. Per <br />City Code, a developer shall complete all required improvements within twelve (12) months of the date of City <br />Council approval of the Site Plan unless otherwise approved by City Council. Due to the delay in construction after <br />obtaining the necessary approvals, extending the completion date out to December 31, 2016 appears reasonable. <br />Finally, the Subject Property is currently owned by the City. Thus, the Building Permit could be issued (upon <br />receipt of payment of the permit fee) and held in escrow with the title company until the closing on the land <br />transaction. It is at that time that all Development Fees would be paid by the Permittee and the Plat of Sunwood <br />Village would be recorded. This provides reasonable protection to the City to ensure that all required Development <br />Fees are paid prior to releasing the Building Permit from escrow to the Permittee. <br />Easement Agreement (Sidewalk) <br />A portion of the public sidewalk along both Sunwood Drive and Veterans Drive will slightly encroach on the <br />Subject Property. An Easement Agreement has been drafted to ensure public use of the sidewalks. The Easement <br />Agreement would be recorded as part of the closing on the property. The width of both sidewalks was necessary to <br />match the widths of existing sidewalk east of the Subject Property. As part of the Site Plan review for Sunwood <br />Village, Staff had worked with the Applicant to ensure the new sidewalk would match that of the existing sidewalks <br />with the understanding that an Easement Agreement would be necessary to address the encroachment on the <br />Subject Property. The Easement Agreement has been reviewed by the City Attorney and has been found to be <br />sufficient. <br />Metropolitan Council Livable Communities Sub -Grant Agreement <br />The project was awarded two (2) grants from the Metropolitan Council through its Livable Communities Account <br />(LCA) for a total of $780,000. The structure of LCA funds is an agreement/relationship between the City and the <br />Metropolitan Council. The Metropolitan Council LCA does not distribute funds directly to the Developer. <br />Therefore, CommonBond Communities is requesting a Sub -Grant Agreement that it has used on other LCA <br />projects. The intent of the agreement is to outline the process for distributing funds on a reimbursement basis, as <br />required by LCA. The benefit to the Developer is assurances that funds will be properly disbursed in a timely <br />fashion. The benefit to the City is to ensure that the Developer constructs the project in line with the approved LCA <br />grants and eligible costs are incurred. The agreement has been reviewed by the City Attorney and has been found to <br />be appropriate as to legal form. <br />Funding Source: <br />NA <br />Recommendation: <br />Staff recommends that the City Council adopt Resolution # 15-07-177 granting approval to the following <br />agreements for Sunwood Village. <br />1. Amended Reciprocal Driveway and Drainage and Utility Easement (correct legal description on existing <br />easement) <br />2. Amended Development Agreement <br />3. Sidewalk Easement Agreement <br />4. Metropolitan Council Livable Communities Sub -Grant Agreement <br />Action: <br />