Council approves development agreement and final plat for Saddle Crossing Phase 4

The Preston City Council approved a development agreement for Saddle Crossing subdivision Phase 4 and then separately approved the final plat contingent on execution of the agreement and transfer of an open-space deed. City staff said the draft in the packet was an older version and a revised draft was distributed at the meeting; the bond figures were supplied by the engineers. "It'd be 147,000 as the initial bond amount for the improvements with the 10% retainage being 10% of that 14,700," staff told the council.