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Council approves Rachel Brook Estates Phase 3 paving resolution; 44 lots to be assessed
Summary
Council accepted a developer petition and approved a resolution authorizing Phase 3 paving improvements for Rachel Brook Estates; the development agreement allows the use of a surety bond as security and makes clear assessments will be borne entirely by the affected property owners (44 lots).
The Goddard City Council voted to accept a petition from the Rachel Brook Estates developer and approved a resolution authorizing Phase 3 paving improvements and related financing. Staff told the council the apportionment of the costs will be 100 percent to the affected property owners, with the assessment method set as equal per lot for the 44 lots specified.
The developer proposed providing a surety bond in place of an irrevocable letter of credit to secure the assessments; staff said the development agreement and the resolution would approve that form of security under Article 9, section 1-906D of the code. Staff noted a surety bond has been used on earlier phases of the same development, and that the development agreement includes provisions to recover city fees and attorney's costs if collection against the bond becomes necessary. The council moved, seconded and adopted the resolution; the audio record states "Motion carries 4."
