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MINUTES OF THE <br />ORONO CITY COUNCIL MEETING <br />Monday, November 26, 2007 <br />7:00 o'clock p.m. <br />( #07 -3336 Marc Ashton With John Terrance Homes, LLC, On Behalf of Mitch Cook of Central <br />Bank and Larry Pal of LGL Real Estate Investments, Stonebay Outlot A, Continued) <br />concern. LGL is requesting that payment of the fees not be required until a building permit is requested <br />and that the money stay in escrow until the building permit is issued. Typically these fees are collected <br />up front and the City is entitled to collect park dedication fees at the time of subdivision according to <br />state statute. The issue of not collecting the fees until the building permit is requested is not something <br />that Staff would be in favor of <br />Mattick stated the lengthy discussion this afternoon helped to clarify the items and that some sort of <br />staging plan would need to be developed in order to incorporate it into the development agreement. <br />Kellogg stated the biggest issue is how does Staff deal with the staging of the project, and if one of the <br />sites is not going to be developed for some period of time, they need to address how storm water would <br />be handled. Some of the required storm water improvements are a direct result of discussions with the <br />MCWD and he is uncertain what the position of the MCWD would be on the storm water if one site is • <br />not developed. Kellogg indicated the other engineering issues on the site are minor and can be <br />addressed prior to development of the lots. <br />Palm stated the issue in his mind is that they do not care to pay the fees at all until they apply for the <br />building permit. Palm indicated they would also prefer not to put them in escrow. <br />Mattick stated the letter of credit would secure the public improvements and not the other fees, such as <br />park dedication fees. <br />Palm stated the letter of credit has the ability to bind those fees. <br />White stated essentially the letter of credit the City is requesting would be for the public improvements. <br />McMillan asked if LGL is willing to file the letter of credit but would like the other fees deferred until <br />the building permit is issued. <br />PAGE 20 of 32 <br />