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Stoncbay Lofls <br />March 11, ZOOS <br />Pages <br />3) PUD No. 4B Agreement and PUD/Development Contract <br />This document establishes detailed development requirements for the property, and legally <br />obligates the developer to abide by those requirements. <br />Hie Agreement requires the Developer to post a Letter of Credit to guarantee tlie City tlie <br />ability to complete certain improvements if necessary. <br />The language includes the "Owners” (John Terrance Homes) as a party to tlie Agreement <br />because certain of the improvements required for the Lofls were required to be completed <br />by Owners or are located on Outlet G to the east (Cascade Lane) and require cooperation <br />or approval of the Owners. <br />Staff Recommendation <br />Staff recommends that Council review the revised landscq>ing plan and each of the provided development <br />doci'.ments. <br />TheCity Attorney has not provided review comments as of this writing, hence the documents are subject <br />to his revision; additionally, the Developer will have not received tliese until 3/11/05 at the earliest, and the <br />Developer and Owner may have comments or revisions. <br />Staff would advise Council not to adopt the final plat approval resolution since mylars are not available yet, <br />as this has been the City’s consistent practice. However, ifCouncil finds that all topics or concerns have <br />been fully addressed in the document language. Council could take the following actions: <br />1) Motion to accept tlic language of tlie PUD NO. 4B Agreement & PUD/Development Contract <br />2) Direct staff to finalize tlic language of the two resolutions for adoption on March 28. <br />COUNCIL ACTION REQUESTED <br />Review and provide direction regarding the revised landscape plans. <br />Take action as noted above regarding the documents.