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<br />Council Member Broussard Vickers noted that City Ordinance gives homeowners six (6) <br />months from the date of the occupancy permit or at public works discretion due to <br />weather to install the sod. She then suggested using the language "six (6) months after <br />occupancy of the home not to exceed a certain date." <br /> <br />Ms. Bender noted that an exhibit could be added to the Developer's Agreement to ask <br />that the funds for sod be placed in escrow with the city for homes built in the winter. <br /> <br />Council Member Broussard Vickers noted she did not mind the date of July 30, 2003 for <br />the end of the project improvements but said she wanted to set a time frame for <br />homeowners getting sod. <br /> <br />Mr. Hannah noted that his Company does an inspection twice a year to make sure the <br />lawns are in. He then explained that a letter would be sent to the homeowner if the lawns <br />were not in explaining they are in violation of the covenants of the development. <br /> <br />Ms. Bender noted the City has had problems with the Eagle Pass development with issues <br />passed on to the builder that the City has no control over. <br /> <br />City Attorney Hoeft explained that the City lost its leverage when the retainage was <br />refunded too quickly. He then noted that there is no legal magic as to the final date for <br />private improvements as the market will drive the date based on how quickly the lots sell. <br /> <br />City Attorney Hoeft explained that the bond and retainage issues are interrelated. He <br />then indicated that if the letter of credit amount of $135,000 limits the developer's ability <br />to borrow perhaps the City should be concerned with the developer's ability to afford this <br />development. He then noted that he was legal counsel for Ground Development <br />previously and noted that, during the time he represented Ground Development, there <br />was never an issue as to a letter of credit or bond because no city ever had to draw on <br />them. <br /> <br />City Attorney Hoeft told Council he had indicated to the developer that if the City was <br />insistent on the letter of credit there may be room to move on the retainage amount from <br />150% to 125%. <br /> <br />Mayor Swedberg asked how often the City has needed to use the retainage. City <br />Attorney Hoeft noted the City had not used the retainage in the past but probably should <br />have in Eagle Pass. City Attorney Hoeft then noted that the developer from Eagle Pass is <br />now completing the items left undone as they are going to be coming to Council for <br />approval of Phase II of the development. He further noted the same could be said for <br />Ground Development when it comes for approval of Phase II. <br /> <br />Council Member Capra asked if the City would be setting a precedent by using 125% <br />retainage for this development. <br /> <br />Page 13 of 18 <br />