Adopt Resolution #23-068 Approving Final Plat and Development Agreement for Riverstone South Third Addition

The purpose of this case is to consider approval for the Final Plat and Development Agreement of Riverstone South Third Addition by Capstone Homes (the "Applicant") on the property generally south of Highway 10 and east of Bowers Drive (the "Subject Property"). The City Council approved the preliminary plat for the overall project in April 2021 contingent upon the developer finalizing the final plat, a Cost Share Agreement, Park Dedication, Tree Preservation, and final approval of plans, subject to current Staff Review comments, and approval by the City Engineer. This nine-lot Final Plat approves construction documents and the Final Plat Sheet for recording and legal subdivision. The next step after Final Plat is a development agreement, which outlines fees and responsibilities for each party throughout construction.

The attached development agreement is the City's standard template, with revisions similar to the first and second additions of Riverstone South. The development agreement lays out fees, project costs, and financial sureties that the City will take in order to ensure that the project is completed to City standards. The draft development agreement has been reviewed by the City Engineer, City Attorney, and the Applicant.

Notification is not required for approval of a final plat or development agreement.

The Final Plat for Riverstone South Third Addition is consistent with the approved Riverstone South Preliminary Plat.

The Applicant is responsible for all costs associated with the request.

Recommend adopting Resolution #23-068 approving Final Plat and Development Agreement for Riverstone South Third Addition

Motion to adopt Resolution #23-068 Approving Final Plat and Development Agreement for Riverstone South Third Addition