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r <br />3 Payment of Sewer and Water Connection Charges fortliedevelopmentofihe Property <br />in the amount of$24 1,1 57 based on the following formula as established in Hxhibit Mnf <br />the Planned Unit Development No. 4 Agreement: <br />I98*> Hwy 12 Area Sewer ( unncction niaigc(2()05 l*cc Schedule) ‘ S.S/iSVncrc <br />1989 llwy 12 Area WaCei Conneclion Chai^jc (2(I0f> I'cc .Schedule) * $9, ^^Vaerc <br />Suhfotal Scwci and Wafer ('onncclion (’hnraes ^ $1 f»,OIO/acrc <br />Ucsidential lolnl area 44 26 acies <br />44 26 acres x $LS,OIO/acir l6MxMi Tolal S&W Cuiincctiuii Chaises <br />Proration: LoHs units / total units * portion due for LoHs <br />Lofts « 57 units Tolal units (uHcr Lofts tediicfion) - 1 57 uiiif.s <br />57/ 1.57 " 0.36.1 X $664,343 - $241,157 <br />4. Payment of Park Dedication Pee for I3evclopmenl of the Property in the amount of <br />$185,250 based on the following fomuila ascstabli.shed in Hxhibit M ofthe Planned Unit <br />Development No. 4 Agreement: <br />L.slahlished value orresideitlial poition ofSloncImy - $4,622,083 <br />8% Pufk l ee - 0 08 x $4,622,083 $369,767 <br />Min/max ranae check (inusi hctwrrn $3,250 and $S.550 per unit) <br />$369,767 / 157 units - $23S5/unit (below re(|iiiicd niin/mux lange) <br />Minimum l ee applied: 157 units x $3,250/unit"" $510^2.50 <br />|•!n^ntinn: Lofts units / total units - poition due for l .oHs <br />57 units X ^3.250/unit« $185,250 <br />WIIKHKAS, City slairaiul consultants have icvicwcil the plans foi this 1*1 II) application <br />ami hcrchy specify approval or conditional approval ofcach attached plan ami identify them as part ofthe <br /><*niei.d iec«)i(l for Phimied I Init Development No. 4LJ: <br />1. <br />2. <br />Appioval of site plan per ‘‘Pieliminaiy Site Plan” Sheet C2.1 dated 2/21/05. <br />Approval or'Pielimiiiaiy (I’railiii)' Plan" per Sheet CM. I daleil 2/21/05, subject to any <br />additional requirements ot the Minnehaha ('reek Watei.sheil I )i.slrict and siihject to any <br />atidi(ionaIie«|iiiiemenls and conditions spccilietl by thcCitylinp.ineei upon review oHinaI <br />plans. <br />b. <br />J. Approval of "Preliminary t Jtility Plan" per Sheet C’4.1 dated 2/21/05, subject to any <br />additional requirements s|)ecifieri by the ('ity l-iiyineer uju)ii review of final plans. <br />Paye ^ of 7