Atkins approves final $84,000 appropriation to Stone Ridge development
Council authorized a final appropriation of $84,000 to Stoneridge Development LLC for phases 3 and 4; staff said this payment will satisfy the development agreement and let the city realize full tax revenues from the subdivision.
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City staff told the council on Oct. 13 that the requested appropriation to Stoneridge Development would be the final contract payment under the development agreement and would free the city to realize full tax dollars from the subdivision going forward. Staff said the payment amount proposed for fiscal year '28 is $84,000, matching the prior schedule, and that the development agreement would be satisfied once paid.
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