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Item 3.
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| City Council Regular | |
| Date: | 04/26/2021 |
| Title: | Development Agreement with Lupine Holdings, LLC for Certificate of Survey 1889 Amended Tracts 1A and 1B |
| Presented by: | Debi Meling |
| Department: | Public Works |
| Presentation: | No |
RECOMMENDATION
Staff recommends that the City Council approve the development agreement with Lupine Holdings, LLC.
BACKGROUND (Consistency with Adopted Plans and Policies, if applicable)
At the March 22, 2021 meeting, City Council approved the annexation of Certificate of Survey 1889 Amended, Tracts 1A and 1B with the condition that the developer will enter into a development agreement with the City. The property is located north of Highway 3 and west of the airport. Lupine Holdings, LLC desires to develop the property as a commercial development. The development agreement outlines necessary public improvements in order to develop the property. The property owner has submitted the attached Development Agreement and the Council will consider whether to approve the agreement.
ALTERNATIVES
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 would be in accordance with policies in place at the time of development.
FISCAL EFFECTS
The development agreement requires improvements that meet current subdivision regulations. In addition, the development agreement defines lots in the development that may be required to participate in future Special Improvement Districts. There are no fiscal effects of this development agreement unless subdivision regulations change in the future.