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5. 7. <br />CC Regular Session <br />Meeting Date: <br />08/10/2026 <br />Primary Strategic Plan Initiative: Promote economic growth and development. <br />Title: <br />Adopt Resolution #26-177 Approving a Revised Development Agreement for Waterfront Village Third Addition. <br />Purpose/Background: <br />The Final Plat and Development Agreement for the next phase of the Waterfront Village development was approved earlier <br />this year. As the developer, Centra Homes, is preparing to start construction, they have received much more favorable bids <br />from a reputable contractor than the original engineer's estimate for which the approved development agreement was based. <br />The developer is requesting a revised development agreement so that the required surety that is posted is not as high and <br />more reflective of the bid --no other provisions are changing. The bid was reviewed by the City Engineer. <br />The previously -approved development agreement has not been signed or recorded, so this action is just a replacement rather <br />than an amendment. <br />Notification: <br />None required. <br />Recommendation: <br />Staff recommends approval of the revised Development Agreement. <br />Outcome/Action: <br />Motion to adopt Resolution #26-177 Approving a Revised Development Agreement for Waterfront Village 3rd Addition. <br />Attachments <br />Resolution #26-177 <br />Waterfront Village 3rd DA <br />Form Review <br />Inbox Reviewed By Date <br />Brian Hagen Brian Hagen 08/06/2026 09:16 AM <br />Fonn Started By: Todd Larson Started On: 07/24/2026 01:44 PM <br />Final Approval Date: 08/06/2026 <br />