11-13-2007 Council Minutes - Laserfiche WebLink

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• r� MINUTES OF TAE ORONO CITY COUNCIL MEETING Tuesday, November 13, 2007 7:00 o'clock p.m. (8. #07 -3336 MARC ASHTON WITH JOHN TERRANCE HOMES, LLC, ON BEHALF OF MITCH COOK OF CENTRAL BANKAND LAR YPALM OF LGL REAL ESTATE INVESTMENTS, STONEBAYOUTLOTA -Continued) Curtis stated as part of the preliminary plat resoli to be paid prior to final plat approval. White inquired what amount is involved relating Cook indicated their fees add up to Palm stated with the letter of credit, it is over Turner stated in addition to the approval of the p construct the buildings and that the way the fees at the time of final plat approval. Palm stated as it concerns the letter of credit on Kellogg stated the applicant could provide three credit is calculated on their estimate of the costs. Curtis stated the required letter of credit for lot approval, the fees were outlined and are required fees. $137,000. M the applicants would also be receiving approval to structured in the resolution, the fees would be-due lot, in his opinion it is excessive. to their office but that typically the letter of is $500,920 and on lot two is $408,551. Palm stated they are required to post half a million dollars on a project that they will.not be starting until after the winter, which will force them to incur additional expense. Cook stated he was not aware of the fees until recently and that it is not as big of an issue for their lot as it is for the LGL lot since they will be starting construction s in the near future. Turner noted there are two types of SAC and WAC charges that are required and that one of the SAC and WAC charges is payments in lieu of assessments and the other SAC and WAC charges will go to the Metropolitan Council. I Palm indicated he is not questioning the amount White suggested the applicants make a proposal 1 would not be approved for another two weeks. Cook stated it was his understanding the fees woi Palm stated that has been his experience as well 1 White recommended Staff consider that proposal merely the timing of the payment. the city on the fees, noting that this application be due at the time the permit was issued. the City of Medina. the applicants. Gaffron stated after reviewing the development agreement, the interior street system, the sidewalks and the common areas are to be privately owned and maintained with the exception of the public trail • located along Willow Drive. The bicycle /pedestri an trail would be constructed by the developer in conjunction with phase one to ensure that the area intended for trail is not commercially developed, i PAGE 11 of 14