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Council approves Silver Sage commercial final plat contingent on development agreement
Summary
Preston council approved the Silver Sage commercial subdivision final plat (5.07 acres in general commercial zone) contingent on execution of a development agreement and required bonds; staff noted an initial bond estimate of $516,000 with temporary stormwater controls required until a permanent pond is installed.
The Preston City Council approved the final plat for the Silver Sage commercial subdivision by unanimous vote, with final signature contingent upon execution of a development agreement and provision of the engineers' bond amounts.
Staff described the 5.07-acre commercial parcel and noted Planning & Zoning's unanimous prior approval. The city attorney indicated the draft development agreement was provided to the developer's attorney that afternoon and recommended the council condition final-plat approval upon execution of the agreement and bonds; the attorney stated an initial bond amount of $516,000 (engineer-provided 120% amount with 10% retainage). Staff also noted a temporary stormwater pond and temporary turnaround will be required until permanent stormwater infrastructure is constructed.
Council approved the motion and thanked planning staff and P&Z for the prior review; the final plat will not be recorded until the development agreement and bond amounts are in place.
