The Salisbury Family (as JEMCA LLC) has submitted to the City a final plat for the development of their property off the east end of Granville and Castleford Streets. The City Council has approved a preliminary plat for this property. The final plat is titled the Southgate 3rd Addition Subdivision and may include three phases of development. In order for the developer to move forward with the implementation of the project, a development agreement is needed to address construction of public improvements, phasing of such construction, parkland dedication, street tree contributions, and as built construction drawings. The attached agreement covers these items. The dedication of parkland will occur by approval of the final plat. The agreement specifies that the public improvements for each phase of the Southgate 3rd Addition subdivision will be constructed within nine months of the issuance of the first building permit within that phase. This time frame will allow for winter construction of structures with completion of public works improvements during the summer months. Reviewed by the Public Works/Finance Committee on April 28, 2008.