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CC Regular Session 5.20. <br />Meeting Date: 12/13/2022 <br />By: Brian McCann, Community Development <br />Information <br />Title <br />Adopt Resolutions #22-248 and #22-249 Approving the Final Plat and Development Agreement for Riverstone <br />South Second Addition <br />Purpose/Background: <br />The purpose of this case is to consider Final Plat and Development Agreement Approval for Riverstone South <br />Second Addition by Capstone Homes (the "Applicant") on the property generally South of Highway 10 and East <br />of Bowers Drive (the "Subject Property").The City Council approved the preliminary plat for this project in April <br />2021 contingent upon the developer finalizing the final plat, a Cost Share Agreement, Park Dedication, Tree <br />Preservation, and final approval of plans, subject to current Staff Review comments, and approval by the City <br />Engineer. This last step in the phase of platting, Final Plat, approves construction documents and the Final Plat <br />Sheet for recording and legal subdivision. The next step after Final Plat is a development agreement, which <br />outlines fees and responsibilities for each party throughout construction. <br />The attached development agreement is the City's standard template, with revisions similar to the first addition of <br />Riverstone South. The development agreement lays out fees, project costs, and financial sureties that the City will <br />take in order to ensure that the project is completed to City standards. The draft Development Agreement has been <br />reviewed by the City Engineer, City Attorney, and the Applicant. <br />Notification: <br />Notification is not required. <br />Observations/Alternatives: <br />The Final Plat for Riverstone South Second Addition is consistent with the approved Riverstone South <br />Preliminary Plat. <br />Note: December 13, 2022 is the end of the sixty-day review period. If the request is tabled, a sixty-day extension <br />letter will be required. <br />Funding Source: <br />The Applicant is responsible for all costs associated with the request. <br />Recommendation: <br />Staff recommends adopting Resolutions #22-248 and #22-249 Approving the Final Plat and Development <br />Agreement for Riverstone South Second Addition. <br />Action: <br />Motion to Adopt Resolution #22-248 Approving the Final Plat for Riverstone South Second Addition <br />- and - <br />Motion to Adopt Resolution #22-249 Approving the Development Agreement for Riverstone South Second <br />Addition <br />