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5. 12. <br /> CC Regular Session <br /> Meeting Date: 04/09/2024 <br /> Primary Strategic Plan Initiative: Promote economic growth and development. <br /> Information <br /> Title <br /> Adopt Resolution#24-101,Approving the Development Agreement for Lightbridge Academy <br /> Purpose/Background: <br /> On February 9, 2024, the City Council approved the Preliminary and Final Plat for Lightbridge Academy, located <br /> at 14275 St. Francis Blvd.NW. Since that date, the Applicant has supplied engineering cost estimates to Staff as <br /> part of drafting the Development Agreement for Lightbridge Academy. The Development Agreement is standard <br /> in its form. <br /> The requested action is to approve the Development Agreement for the approved plat. This is the last step in <br /> Council actions before Lightbridge Academy can apply for building permits to construct the building. <br /> Notification: <br /> Public notification is not required. <br /> Observations/Alternatives: <br /> Alternatives to Consider: <br /> 1. Approve the Development Agreement as presented. <br /> 2. Approve the Development Agreement with modifications that City Council requests. <br /> 3. Deny the Development Agreement based on specific findings. <br /> Funding Source: <br /> All costs associated with this request are the Applicant's responsibility. <br /> Recommendation: <br /> Staff recommends approval of the Development Agreement. <br /> Action: <br /> Motion to adopt Resolution#24-101, Approving the Development Agreement for Lightbridge Academy. <br /> Attachments <br /> #24-101 Development Agreement Resolution <br /> Development Agreement <br /> Form Review <br /> Inbox Reviewed By Date <br /> Brian Hagen Brian Hagen 04/04/2024 02:56 PM <br /> Form Started By:Adam Martin Started On:04/01/2024 12:22 PM <br /> Final Approval Date:04/04/2024 <br />