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Council approves Jamestown Phase 2 final plat after developer pays $270,000 and posts $323,000 bond
Summary
Smith Douglas, the current owner/developer, met staff conditions for Jamestown Phase 2: a contribution capped at $1,500 per lot resulted in a $270,000 check to the city and a $323,000 bond for infrastructure; final plat was approved on consent.
City staff recommended approval of the final plat for Jamestown Phase 2, a subdivision off Reed Road, after the developer satisfied financial conditions including a cash contribution and performance bond.
A community-development staff member said the developer (Smith Douglas) met the conditions the council and staff had set prior to approving the final plat. Staff reported receiving a $270,000 check to be applied toward road improvements at South Carroll and Reed — consistent with a previously set contribution limit of $1,500 per lot — and that the developer supplied a performance bond of $323,000 tied to linear footage of required infrastructure.
Some conditions tied to the development — for example, a land swap and traffic calming installations — will be completed later in the development schedule, the staff member said. With staff recommending approval, council placed the item on the consent calendar and approved the final plat.
Ending: The council approved the Jamestown Phase 2 final plat on consent after staff confirmed the $270,000 contribution and the $323,000 surety bond; outstanding conditions will be monitored and completed according to the development agreement and inspection processes.
