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THE CITY OF 4 °' �=' CITY COUNCIL AGENDA REPORT PL E ASANTONa March 17, 2014 Director Community Development TITLE: SECOND READING OF AN ORDINANCE No. 2144 APPROVING THE APPLICATION OF BRADLEY BLAKE, BHV CENTERSTREET PROPERTIES, LLC, FOR A PLANNED UNIT DEVELOPMENT PLAN PUD- 108 SUMMARY At your March 3, 2015 meeting, the City Council introduced an ordinance for the proposed Pacific Peal development project (PUD-108) as part of the Staples Ranch development. As part of the discussion regarding this item, the City Council directed staff to clarify Section 28 of the PUD Conditions of Approval concerning the developer's contribution to the City's gateway signage. In response, staff is recommending the following language: 28. The project developer is required to contribute an amount equal to one-third of the cost to a maximum of $84,000 for designing and constructing a roadway entry feature near the northeastern corner of the subject site, and thus the corner treatment may change from what is currently shown on the PUD plans once plans are developed and finalized. Final design and construction specifications shall be subject to approval by the Director of Community Development. The sign shall be constructed by the developer prior to issuance of the project's occupancy permit. The City may, at its option, elect to construct the sign and if this occurs, the City will invoice the developer for its share of the cost. Should the project developer construct the sign, the City may require work to include constructing a similar sign on the adjacent auto mall parcel. If the project developer constructs the sign on the auto mall parcel, the City shall provide a fee credit equal to the actual cost of constructing the auto mall parcel sign. RECOMMENDATION Proceed with the second reading of the attached Ordinance (Attachment 1) adopting Ordinance Number 2114 FINANCIAL STATEMENT There is no financial impact as a result of this action.