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Council approves $55,000 buyout for Enclave East open space, payment split across phases
Summary
The council approved a $55,000 buyout for required open space in the proposed Enclave East subdivision, to be paid in two installments keyed to phases of the project; one councilmember voted against the agreement and staff will receive the funds for parks maintenance and improvements.
The Preston City Council approved a $55,000 buyout offered by developers of the Enclave East subdivision to satisfy a portion of the code requirement for open space. Under the agreement the developer will pay $27,500 at commencement of phase 1 and $27,500 prior to commencement of phase 2; council directed the funds be placed into the parks and recreation budget.
City staff explained the municipal code requires 15% of platted area be provided as HOA…
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