1997-10-27 Regular Meeting of City Council

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e e and remaining participation of $25,640.57 to the City will occur before the Developer receives approval for the Final Plat of Summer Winds, Section 2. Development of any portion of the commercial tracts to the south of Can iff Road will require the access from CaniffRoad to be restricted to the concrete portion of Caniff Road. Council should be aware the Developer's request to build the 100' concrete section in lieu of cash participation will result in a road section that will not immediately serve any developed properties. As discussed at the October 20, 1997 workshop, the City will need to decide later on a funding mechanism to complete Caniff Road. Please note that this agreement does not place the City under any obligations to complete the road within a specified time. Recommendation: After considering the various factors, staff recommends entering into a Development Agreement which is required before the Final Plat approval for Summer Winds, Section 1. The Agreement stipulates that the Developer is to construct approximately 100 feet of Can iff Road which will be concrete with curbs and gutters. The Agreement also stipulates that the Developer is required to make an additional payment to the City before the approval of Summer Winds, Section 2. Action Required by Council: Consider authorizing the City Manager to execute a Development Agreement with Summer Winds, LLC, Joseph G. Dow, President and Earl W. Wilburn, Secretary according to the recommendations set forth in this request. Availability of Funds: General Fund Capital Improvement Other Water/Wastewater General Revenue Sharing Account Number: Funds Available: Yes No Approved for City Council Agenda CX~\\~.~. Robert T. Herrera City Manager '()~'2.'l.>- ct., Date