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<br />Page 16 of 20 <br />C. Signed Conservation and Flowage Easement to be granted over all <br />delineated wetlands on the plat. <br />D. Signed Developers Agreement and Letter of Credit for construction <br />of improvements. The City Engineer shall establish the amount to <br />be provided in the Letter of Credit. <br />E. Signed Trail Easement over the northerly 10 feet of the property. <br />3. Final plat approval fee to be paid: Total due: $ 700.00 <br /> <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 /> <br />J. Financial Guarantee. The Development Agreement shall include a financial <br />guarantee by the applicant to ensure the completion of site improvements. The City <br />Engineer shall complete an estimate of improvement costs, including but not <br />limited to public and private streets, curb & gutter, sidewalks, storm sewers, <br />landscaping, grading, erosion control, utilities, driveways and parking areas, trails, <br />sidewalks, retaining walls and stormwater management facility construction, and <br />the applicant shall provide to the City a financial guarantee of 150% of the <br />improvement costs. <br /> <br />K. Storm Water and Drainage Trunk Fee. <br /> <br /> FOR DISCUSSION – SEE PAGES 8-9 <br /> <br />L. Park Dedication The City Code requires dedication of 8% of the land as public <br />park, or payment of the equivalent value in cash. The City Council has determined <br />there is no need for dedication of land from the proposed development. Therefore, <br />payment of the standard Park Dedication fee for 27 new building lots will be <br />required; the current fee ranges from a minimum of $3,250 and a maximum of <br />$5,550 per lot, for a potential total fee of $87,750 to $149,850.* The Park <br />Dedication Fee is due at the time of final plat approval. <br />* As of the date of this writing, the City Assessor has not established a fair market value for <br />the property pre-development. The figures shown reflect the minimum and maximum <br />potential amount of the Park Fee.