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Attachment C 375 6. IDevelopment Agreemen�. � Comment [BGA49]: We've included language here to require a developer's 376 a. At its sole discretion, the City may as a condition of approval, require the agree�„ent, buc cl,e C�ry n,ay l,a�e r»ore 377 owner and developer of the proposed PUD to execute a development exccnsive language that can simply bc referenced. We will work with City staff on 378 agreement which may include but not be limited to all requireiments of the ti,e best language ro address rhis need. 379 PUD Final Plan. 380 381 382 383 384 385 386 387 388 389 390 391 392 393 394 395 396 397 398 399 400 401 402 403 404 405 406 407 408 409 410 411 b. The development agreement may require the developers to provide an irrevocable letter of credit in favor of the City. The letter of credit shall be provided by a financial institution licensed in the state and acceptable to the Ciry. The Ciry imay require that certain provisions and conditions of the development agreement be stated in the letter of credit. The letter of credit shall be in an amount sufficient to ensure the provision or development of improvemenY called for by the developmenY agreement. 7. IOperating and Maintenance Requirements far Common Areasl. If certain land areas or structures within the PUD are designated for recreational use, public plazas, open areas or service facilities, the owner of such land and buildings shall file a suitable agreement with the city that ensures the contimied operation and maintenance of such areas or facilities in a manner suitable to the city. These common areas may be placed under the ownership and control of one of the following: a. The landlord; or b. A Homeowners' association if all of the following conditions are met: i. The homeowners' association must be established prior to the sale of any property in the PUD. ii. Membership must be mandatary for each owner and successive buyer. iii. The open space restrictions must be permanent. iv. The association must be responsible far liability insurance, taxes and mamtenance. v. The landowner must pay its pro rata share of an assessment levied by the association and that share, if unpaid, must become a lien on the property owned by the landowner. vi. The association must be able to adjust the assessment to meet changed needs. (10) �PUD Amendments� Approved PUD's may be amended from time to time as a result of unforeseen circumstances, overlooked opportunities, or requests from a developer. AY such a time, the applicant shall make an application to the city for a PUD amendmcnt. All such amendments will be processed as one of the following: Page l2 of 13 i Comment [BGA50]: If common areas are to be jointly operated and maintained, such details will need to be worked out as a component of PUD Final Plan. CommenY [BGA51]: Subsection 10 includes our fi�st crack at language addressing how PUDs can be amended following approval. As drafted, we are suggesting three levels of amcndments: 1) an administrative amendment to allow for minor deviations to address unforeseen issues in the field; 2) an ordinance text amendment if only the PUD overlay dish ict language needs to be changed; or 3) a Full PUD amendment which would require starti��g bacic at the PUD Preliminary Plan stage.