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IT <br />F' <br />S(«N«bay Lefts <br />March 11,2105 <br />Pata3 <br />PUD No. 4B Agreement and PUD/DevelJ W 0 UH! I I l*Jtl <br />This document establishes detailed devdopment requirements for the property, and legally <br />obligates the developer to abide by those requirements. <br />The Agreement requires the Developer to post a Letter of Credit to guarantee the City the <br />ability to complete certain improvements if necessary. <br />The language includes the “Owners” (John Terrance Homes) as a party to the Agreement <br />because ceitainofthe improvements required for the Lofts were required to be completed <br />by Owners or are located on Outiot G to the east (Cascade Lane) and require cooperation <br />or approval of the Owners. <br />Staff RccoauMadatioB <br />Staff recommends that Council review the revised landsoqring plan and each of the provided development <br />documents. <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 these until 3/11/05 at the earliest, and the <br />DevelopCT and Owna may have comments or revisions. <br />Staff would advise Council not to adopt die final plat approval resolution since mylars are not available yet, <br />as this has been the City’s consistent practice. However, if Council finds that all topics or concerns have <br />been fiilly addressed in the document language. Council could take the following actions: <br />1) Motion to accept the language of the PUD NO. 4B Agreement & PUD/Development Contract <br />2) Direct staff to finalize the language of the two resolutions for adoption on March 28. <br />COUNCIL ACTION REQUESTED <br />Review and provide direction regarding the revised landscape plans'i Fit <br />Take action as noted above regarding the documents. <br />*■—•