Title
Approving a Subdivision Variance to allow posting partial fiscal security for Spring Trails Phase 4 and 5 final plats.
Summary
The developer of the Spring Trails subdivision is currently constructing Phase 4 and Phase 5 of the residential development. In order for a final plat application to be submitted at this time, the developer would be required to post fiscal security for 110% of the cost of the total public improvements. The developer has proposed to submit their final plat applications for these phases and post partial fiscal for the remaining public improvements as determined prior to the deadline for the next Planning and Zoning Commission meeting. There is not a provision to allow posting fiscal security for the remaining improvements to be constructed and the developer has requested a subdivision variance to the provision as defined in Subchapter 15(O) of the Unified Development Code.
Staff Recommendation
In granting the variance, the City will retain assurance that the remaining public infrastructure can be installed. Staff recommends approval of the proposed Subdivision Variance.
Drafter
Jeremy Frazzell, Senior Planner