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0 <br />CITY of ORONO <br />RESOLUTION OF THE CITY COUNCIL <br />NO. 5.4 2 0 <br />D. Signed Buffer Maintenance Agreement. <br />E. Signed Developers Agreement and Letter of Credit for <br />construction of improvements. The City Engineer shall establish <br />the amount to be provided in the Letter of Credit. <br />Plat approval fees to be paid: Total due: $ 530.00 <br />A. Final plat fee = $280.00 <br />B. Legal review & filing fees for subdivision and associated <br />documents = $250.00 <br />• I. Development Agreement. Development Approval is contingent upon the <br />successful execution of a Development Agreement between the applicant and the <br />City. Such Agreement shall address all specific City requirements for the <br />development. <br />J. Financial Guarantee. The Development Agreement shall include a financial <br />guarantee by the applicant to ensure the completion of site improvements. The <br />City Engineer shall complete an estimate of improvement costs, including but not <br />limited to public and private streets, curb & gutter, stormsewer, landscaping, <br />grading, erosion control, utilities, trails, and stormwater management facility <br />construction, and the applicant shall provide to the City a financial guarantee of <br />150% of the improvement costs. <br />K. Storm Water and Drainage Trunk Fee. The standard Storm Water and <br />Drainage Trunk Fee for residential development shall be paid by the developer <br />per the 2006 City Fee Schedule. The area of proposed Lot 2, the church parcel, <br />shall not be included in the calculation of area for this fee. <br />5.6 acres x $4,275 per acre = $23,940.00 <br />L. Park Dedication. The Developer' shall pay the standard Park Dedication Fee for 8 <br />new lots per the 2006 City fee Schedule. Assuming each lot has a value in excess <br />of $69,735 the lots are subject to the maximum park fee of $5,550 per dwelling <br />unit. <br />8 new dwelling units x $5,550 per d.u. _ $44,400.00 <br />Page 12 of 14 <br />