HomeMy WebLinkAbout6.p. Approve Subdivision Agreement Amendments for Greystone 8th and Meadow Ridge 2nd
EXECUTIVE SUMMARY
City Council Regular Meeting Date: December 4, 2018
AGENDA ITEM: Approve Subdivision Agreement
Amendments for Greystone 8th and
Meadow Ridge 2nd
AGENDA SECTION:
Consent
PREPARED BY: Kim Lindquist, Community Development
Director AGENDA NO. 6.p.
ATTACHMENTS: None APPROVED BY: LJM
RECOMMENDED ACTION: Motion to Approve the Amendments to the Subdivision
Agreements for Greystone 8th and Meadow Ridge 2nd
ISSUE
On November 20th the City Council approved subdivision agreements for Greystone 8th and Meadow
Ridge 2nd. The agreements required a 15% deposit to cover construction monitoring fees, which is
consistent with typical agreements. This is a reimbursable fee, meaning that the developer pays the
engineering bills and is reimbursed any funds not needed to cover costs. Because these two projects will be
a test case to design and construct the public infrastructure privately, the developer has requested a
reduced deposit of 10% for construction monitoring. From staff’s perspective the change is acceptable as
the developer will pay the construction monitoring costs incurred regardless of the deposit amount. The
following changes will be inserted into the body of the Subdivision Agreements:
18. Responsibility for Costs. (Greystone 8th)
A. Except as otherwise specified herein, the Developer shall pay all costs incurred by it or the City
in conjunction with the development of the Subject Property including, but not limited to, Soil
and Water Conservation District charges, legal, planning, engineering, review and inspection
expenses incurred in connection with approval and acceptance of the subdivision and the plat,
the preparation of this Agreement and any amendments hereto, and all costs and expenses
incurred by the City in monitoring and inspecting the development of the Subject Property.
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A. The Developer shall reimburse the City for costs incurred in the preparation and enforcement
of this Agreement, including engineering and attorney’s fees. Upon request, the City shall
provide invoices, in reasonable detail, as to any such fees. The remaining estimated City fees of
$169,397 shall be deposited with the City at the time this Agreement is signed, and represent
the following amounts:
$10,000 Engineering Review Fees
$91,374 Construction Monitoring Fees (10%)
$3,000 Attorney Fees
$45,687 5% City Fees (based on developer’s estimate of $913,744)
$1,728 Street Light Energy Cost
$3,360 GIS Fees
$14,248 Seal Coating
$169,397 Total Amount Due
If the actual City fees exceed this estimate, the Developer shall pay the additional costs to the
City within thirty (30) business days of the request. If actual City fees are lower than this
estimate, any surplus funds will be returned to the developer when the project fund is
reconciled and closed.
The developer for Greystone 8 has also indicated that the name on the agreement should be CalAtlantic
Group, Inc. rather than US Home Corporation. By approving this amendment, staff will also make that
change to the agreement.
18. Responsibility for Costs. (Meadow Ridge 2nd)
A. Except as otherwise specified herein, the Developer shall pay all costs incurred by it or the City
in conjunction with the development of the Subject Property including, but not limited to, Soil
and Water Conservation District charges, legal, planning, engineering, review and inspection
expenses incurred in connection with approval and acceptance of the subdivision and the plat,
the preparation of this Agreement and any amendments hereto, and all costs and expenses
incurred by the City in monitoring and inspecting the development of the Subject Property.
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B. The Developer shall reimburse the City for costs incurred in the preparation and enforcement
of this Agreement, including engineering and attorney’s fees. Upon request, the City shall
provide invoices, in reasonable detail, as to any such fees. The remaining estimated City fees of
$106,893 shall be deposited with the City at the time this Agreement is signed, and represent
the following amounts:
$10,000 Engineering Review Fees
$55,464 Construction Monitoring Fees (10%)
$3,000 Attorney Fees
$27,732 5% City Fees (based on developer’s estimate of $554,637)
$864 Street Light Energy Cost
$1,740 GIS Fees
$8,093 Seal Coating
$106,893 Total Amount Due
If the actual City fees exceed this estimate, the Developer shall pay the additional costs to the
City within thirty (30) business days of the request. If actual City fees are lower than this
estimate, any surplus funds will be returned to the developer when the project fund is
reconciled and closed.
RECOMMENDATION
Staff recommends that the City Council approve the amendments to the two recently approved
subdivision agreements which change the construction monitoring fees from 15% to 10% for the
Greystone 8th and Meadow Ridge 2nd subdivisions. The entity name for Greystone 8th will also be changed
from US Home Corporation to CalAtlantic Group, Inc. All other requirements of the subdivision
agreements remain unchanged.