10-11-2004 Council Packet - Laserfiche WebLink

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i Professional Services Costs The Developer is responsible for payment of all costs for professional services, including legal, engineering, and planning costs, in excess of the costs for these services that are included in the zoning application fees paid for the project. There are outstanding professional services fees that need to be paid by the developer on this project. Our recommendation is that the $28,013 in professional service fees owed to the City by the Developer be paid from the $34,125 in Park Dedication Fee reimbursement costs owed to the Developer by the City resulting in a credit of $6,112 owed to the Developer that will be used for payment of future professional service I'ees incurred on the Stonebay project. Park Dedication Fee Reimbursentent Payable to the Developer $34,125 Professional Services Costs Payable to the Citv $28,013 Developer Credit Available for Future Professional Service I’ccs $6,112 For the last two months, the engineering cos»s on the Stonebay project for construction inspection by Bonestroo Hngincers have been approximately $10,000 per month, so the credit available to the developer will be depleted in the next monthly billing cycle for professional service costs. These costs provide for about one half time project inspection on the site from Bonestroo Fngincers. 'I'hcse inspection costs arc the result of insufficseni project construction inspection on the site from the developer’s engineering consultant Landforni Incorporated. The first year of the project l.iindform had a dedicated project engineer on the site. However, this construction season the construction inspection by Landform has been minimal on the project. COUNCIL ACTION RKQUESTEI): Motion to approve a Park Dedication Fee reimbursement of $34,125 to Dahlstrom Development to be funded from the Park Fund and approval of a budget adjustment for the 2004 Park Fund budget U rellect this expenditure. Motion to approve a temporary loan frt)ni the General Fund to the Park I'und to cover the $34,125 expenditure with repayment of this loan as soon as possible from future Park Dedication Fees. Motion to authorize collection of $28,013 in outstanding reimbursable professional services from Dahlstrom Development through a reduction of the $3'#,125 Park Dedication Fee credit due to the developer. The $6.1 12 fee credit balance to be applied to future professional service fees incurred by the City for the Stonebay Development project. Page 2 of 2 1