5.9.
CC Regular Session
- Meeting Date:
- 03/08/2022
- By:
- Brian Hagen, Community Development
Information
Title
Adopt Resolution #22-062 Approving Reimbursement of Riverstone South Development Fees
Purpose/Background:
The City Council approved a Development Agreement for Riverstone South on January 25, 2022. The Development Agreement has been executed, but the Developer noted a discrepancy in the fee calculation compared to past executed Development Agreements. Staff reviewed the fees and concur that the formula used is different than what has been used in the past. Staff supports a reduction in the Letter of Credit Surety to an amount of $4,199,127 and a reimbursement of $33,847 in cash from the Engineering Inspection Escrow.
Recommendation:
Staff recommends to adopt Resolution #22-062 Approving Reimbursement of Riverstone South Development Fees.
Action:
Motion to adopt Resolution #22-062 Approving Reimbursement of Riverstone South Development Fees.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Kurt Ulrich | Kurt Ulrich | 03/03/2022 02:33 PM |
- Form Started By:
- Brian Hagen
- Started On:
- 03/02/2022 03:49 PM
- Final Approval Date:
- 03/03/2022