Council Agenda Monday, May 28, 2012 - City of St. John's
Council Agenda Monday, May 28, 2012 - City of St. John's
Council Agenda Monday, May 28, 2012 - City of St. John's
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Date: <strong>May</strong> 24, <strong>2012</strong><br />
To:<br />
Re:<br />
<strong>May</strong>or and Members <strong>of</strong> <strong>Council</strong><br />
Department <strong>of</strong> Planning File No. S-25-C.2/10-00138<br />
Development Agreement<br />
Kilbride Subdivision - <strong>St</strong>age 1<br />
Proposed Twenty Nine (29) Residential Building Lots<br />
Off Connolly’s Lane (Ward 5)<br />
Applicant: Equity Capital Corporation<br />
Equity Capital Corporation have made application to the <strong>City</strong> for a proposed twenty nine lot residential<br />
subdivision to be known as Kilbride Subdivision- <strong>St</strong>age 1 and generally situated <strong>of</strong>f Connolly’s Lane.<br />
The Developer now wishes to execute the Development Agreement.<br />
The site is located in the Residential Low Density (R1) Zone. All lots have the minimum Lot Frontage<br />
<strong>of</strong> fifteen (15) metres. Single Detached Dwellings with Subsidiary Apartments are a permitted use in<br />
the R1 Zone.<br />
In accordance with the requirements <strong>of</strong> the <strong>St</strong>. John’s Development Regulations, approval for this<br />
application must be given by <strong>Council</strong> in the form <strong>of</strong> a Development Agreement. The <strong>City</strong>’s<br />
Development Team has prepared an Agreement for <strong>Council</strong>’s consideration. The Terms <strong>of</strong> the<br />
Agreement have been accepted by the Developer.<br />
The key points in the Agreement for this project include the following:<br />
1. The Developer shall pay to the <strong>City</strong>, prior to the execution <strong>of</strong> this Agreement, a Development<br />
Fee in the amount <strong>of</strong> $29,000.00 to be deposited into the <strong>City</strong>’s Open Space Reserve account.<br />
2. The Developer shall pay to the <strong>City</strong>, prior to the execution <strong>of</strong> this Agreement, a Subdivision<br />
Application Fee in the amount <strong>of</strong> $2,900.00.<br />
3. There is an assessment for the Waterford Valley Relief Trunk Sewer in the amount <strong>of</strong><br />
$6,035.89, which must be paid to the <strong>City</strong>, prior to the execution <strong>of</strong> this Agreement.<br />
4. The Developer shall deposit with the <strong>City</strong> Phase 2 security in the amount <strong>of</strong> $1,097,521.00 as<br />
security for the completion <strong>of</strong> the Phase 2 work.<br />
5. The developer shall deposit with the <strong>City</strong> Phase 1 security in the amount <strong>of</strong> $1,541,741.00 if<br />
building permits are required by the developer prior to the <strong>City</strong>’s acceptance <strong>of</strong> Phase 1 work.<br />
RECOMMENDATION:<br />
It is recommended that <strong>Council</strong> grant approval to the Development Agreement.<br />
Mr. Robert Smart<br />
Chair - Development Committee<br />
/amh<br />
I:\Robert Smart\<strong>May</strong>or - Killbride Subdivision - <strong>May</strong> 24, <strong>2012</strong>.doc
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