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<br /> 1)111 <br /> - Page 2 <br /> local tax base, provide affordable housing, satisfy housing needs of the community, and <br /> be compatible with existing nearby land uses. <br /> C. The Developer agrees that the Project must conform to all applicable City <br /> ordinances and regulations, including but not limited to the City's Master Plan, and Chapter <br /> 5-Buildings and Building Regulations, Chapter 74-Streets and Sidewalks, Chapter 94- <br /> Development Standards, Chapter 11 O-Subdivisions, and Chapter 114- Zoning, of the San <br /> Marcos City Code. <br /> 2. THE PROJECT <br /> A. The project proposed by the Developer for the Property (the "Project") <br /> consists of the development of the Property into a 48-lot subdivision. The Project includes <br /> . <br /> the extension of Marlton Street from its intersection with Hood Street South a distance of <br /> approximately 600 feet on existing platted right-of-way, the construction of internal streets, <br /> and the extension of utility facilities, all in accordance with the construction plans to be <br /> submitted by the Developer and as approved by the City. While not a part of the Project, <br /> single-family residences will be constructed on ~he lots in this subdivision, either by the <br /> Developer or by others. <br /> B. The Developer agrees to construct the Project on the Property, the total <br /> estimated cost of which is approximately $465,000, to be completed by December 31, <br /> 1997. <br /> C. The Developers agree that the use of the Project upon completion will be for <br /> single-family residential purposes only in accordance with the current zoning designation <br /> of the Property. <br />