Consent 4.b.
Regular City Council Meeting
- Meeting Date:
- 01/22/2018
- TITLE
- Development Agreement with L.B. Stone for 301 Orchard Lane
- PRESENTED BY:
- David Mumford
- Department:
- Public Works
Presentation:
No
PROBLEM/ISSUE STATEMENT
At the January 22, 2018 meeting, City Council will consider annexation of the property located at 301 Orchard Lane. L.B. Stone has purchased the property and desires to be in the City. Typically, as a condition of approval of the annexation, the property owner is to enter into a development agreement with the City of Billings outlining necessary future public improvements. The property owner has submitted the attached Development Agreement,and the Council will consider whether to approve the agreement. Most of the required improvements have been completed with the Orchard Lane project completed in 2016. The development agreement outlines any improvements that may come up in the future.
ALTERNATIVES ANALYZED
City Council may:
- If the annexation is approved, then approve the development agreement with the property owner; or
- Disapprove the development agreement. If the agreement is not approved, the responsibility for infrastructure improvements will not be clearly designated as the property owner's responsibility.
FINANCIAL IMPACT
There is no financial impact to the City with acceptance of this development agreement. If the agreement is not accepted, the City may become responsible for improvements instead of the developer.
RECOMMENDATION
Staff recommends that the City Council approve the development agreement with L.B. Stone.