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FINANCIAL STATEMENT The proposed project would be responsible for the installation of the necessary infrastructure improvements to serve this development. The creation of new lots and construction of the new residences will generate property taxes and revenue to be used to provide services such as Police and Fire. BACKGROUND The subject site was formerly known as the Jones property. The site was approximately four acres in size, and was occupied by the Jones residence with a swimming pool and several accessory structures. The property was supported by a septic system. In 2005, Mr. Lynn Jansen of Lynden Homes developed the site to the immediate west of the Jones site (Cindy Way) with 11 single-family homes known as Roselyn Estates, PUD-38. As stipulated by PUD-38 conditions of approval, Lynn Jansen/Lynden Homes extended City water and sewer lines to the Jones site for future lateral connections to either the Jones residence or future development of the Jones site. The Jones property had two different zoning designations: PUD-MDR (Planned Unit Development — Medium Density Residential) and A (Agriculture) districts. In 2011, Lynn Jansen acquired the property, and submitted applications to: 1) rezone the entire site to PUD-MDR district thus removing the A district designation on the property; 2) relocate and remodel the existing Jones residence closer to the southwestern portion of the site; 3) modify the location of the driveway off of Cindy Way; and 4) subdivide the existing site into two lots. During the rezoning review, Mr. Jansen disclosed his intent to develop the remainder of the parcel with seven single-family homes similar to Roselyn Estates. In August 2012, the former Jones residence was relocated, remodeled and sold. The former Jones site was subdivided into two lots: one lot is occupied by the remodeled home, and other lot is the subject site of approximately 3.7 acres in size. PROJECT DESCRIPTION The applicant proposes a PUD development plan to allow the creation of seven single- family lots. Lot size ranges from 9,905 sq.ft. to 10,010 sq.ft. The PUD development plan includes development standards, lotting plan, elevations, and building color/material scheme for each lot. Staff notes that the "design guidelines" included in the PUD development submittal is not for future home designs. The proposed PUD development plan has included the specific house design for each lot; thus, the design guidelines summarize the proposed development standards. Page 2 of 6