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CC Regular Session 5. 9. <br /> Meeting Date: 03/08/2022 <br /> By: Brian Hagen, Community Development <br /> Information <br /> Title <br /> Adopt Resolution#22-062 Approving Reimbursement of Riverstone South Development Fees <br /> Purpose/Background: <br /> The City Council approved a Development Agreement for Riverstone South on January 25, 2022. The <br /> Development Agreement has been executed,but the Developer noted a discrepancy in the fee calculation compared <br /> to past executed Development Agreements. Staff reviewed the fees and concur that the formula used is different <br /> than what has been used in the past. Staff supports a reduction in the Letter of Credit Surety to an amount of <br /> $4,199,127 and a reimbursement of$33,847 in cash from the Engineering Inspection Escrow. <br /> Recommendation: <br /> Staff recommends to adopt Resolution#22-062 Approving Reimbursement of Riverstone South Development Fees. <br /> Action: <br /> Motion to adopt Resolution#22-062 Approving Reimbursement of Riverstone South Development Fees. <br /> Attachments <br /> ACTION Resolution#22-062 <br /> Development Agreement For Riverstone South <br /> Form Review <br /> Inbox Reviewed By Date <br /> Kurt Ulrich Kurt Ulrich 03/03/2022 02:33 PM <br /> Form Started By:Brian Hagen Started On:03/02/2022 03:49 PM <br /> Final Approval Date:03/03/2022 <br />