Consent 1.B.
Regular City Council Meeting
- Meeting Date:
- 03/13/2017
- TITLE
- Development Agreement with Marsich Investments, LLC
- PRESENTED BY:
- David Mumford
- Department:
- Public Works
Presentation:
PROBLEM/ISSUE STATEMENT
At the November 28, 2016 meeting, City Council annexed Tract 3 of Amended Certificate of Survey 1648, where a new residential development is proposed to be constructed. As a condition of annexation, the property owner was 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. The improvements include the construction of utilities in Central Avenue, construction of Bell Avenue with utilities, and a cash contribution for future Central Avenue improvements.
ALTERNATIVES ANALYZED
City Council may:
- 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 Marsich Investment, LLC.