07-25-2016 Council Packet - Laserfiche WebLink

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Page 17 of 19 C. Signed Conservation and Flowage Easement to be granted over all delineated wetlands on the plat. D. Signed Developers Agreement and Letter of Credit for construction of improvements. The City Engineer shall establish the amount to be provided in the Letter of Credit. E. Signed Trail Easement over the northerly 10 feet of the property. 3. Final plat approval fee to be paid: Total due: $ 700.00 I. Development Agreement. Development Approval is contingent upon the successful execution of a Development Agreement between the applicant and the City. Such Agreement shall address all specific City requirements for the development. J. Financial Guarantee. The Development Agreement shall include a financial guarantee by the applicant to ensure the completion of site improvements. The City Engineer shall complete an estimate of improvement costs, including but not limited to public and private streets, curb & gutter, sidewalks, storm sewers, landscaping, grading, erosion control, utilities, driveways and parking areas, trails, sidewalks, retaining walls and stormwater management facility construction, and the applicant shall provide to the City a financial guarantee of 150% of the improvement costs. K. Storm Water and Drainage Trunk Fee. The property will be subject to the Stormwater and Drainage Trunk Fee, due at the time of final plat approval. The Trunk Fee provisions result in a fee for development at 4.0 units per acre or greater of $8,490 per acre (2016 Fee Schedule), based on non-wetland acreage. The acreage calculation for Trunk Fee purposes is calculated as follows: Area within individual lots: 177,600 s.f. Area within play area Outlot B: 8,583 s.f. Area within road Outlot C: 21,495 s.f. Area within road Outlot D: 30,617 s.f. Area within wetland buffer adj. to Block 2: 28,000 s.f. Total calculable area: 266,295 s.f. = 6.11 ac. Trunk Fee: 6.11 acres x $8,490/acre = $51,874.00.