Res 1998-223 - Laserfiche WebLink

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Page 2 2. THE PROJECT A. The Project includes the development of the Property into a single-family residential subdivision of 165-170 lots. The Project also includes the construction of internal streets and the extension of utility facilities, all in accordance with the construction plans to be submitted by the Developer and as approved by the City, The total estimated cost of the Project is approximately $2,500,000. While not a part ofthe Project, single-family residences will be constructed on the lots in this subdivision, either by the Developer or by others. The conceptual plan of the Project attached as Exhibit C is approved; however, subdivision platting of the Project is subject to review and approval by the City's Planning and Zoning Commission, and construction plans for the Project are subject to review and approval by the City staff. B. The Developer will complete the Project in phases, The Developer agrees to complete the construction of the first phase of the Project, which includes the Realignment, by December 31, 1999, and to complete the balance of the Project by December 30, 2002. C. The Developer agrees that the use of the Project upon completion will be for single- family residential purposes only in accordance with the current zoning designation of the Property. D. The City will have access to the Property during the City's nonnal business hours for the purpose of inspecting the Project to ensure that it is constructed, maintained and used in accordance with this Agreement. 3. DEVELOPMENT INCENTIVES A. In consideration for the construction of the Project by the Developer, and the agreement by the Developer that homes in the subdivision will have an initial selling priœ between $78,000 and S 1 00,000, the City agrees to waive City fees (the "Fee Waiver") associated \vith the Project, including those for subdivision platting, engineering review, and site development. Any of these fees that have already been paid will be refunded by the City. The City also agrees to waive fees for building pennits, plan checking, water and wastewater connections, and contractor licensing associated with the construction of single-family residences on the Property by the Developer or by others that become payable on or before December 31, 2002. B. The Fee Waiver will not extend to water and wastewater impact tèes charged by the City.