Laserfiche WebLink
MINUTES OF THE <br />ORONO CITY COUNCIL MEETING <br />Monday, November 13, 2007 <br />7:00 o’clock p.m. <br />___________________________________________________________________________________ <br />(8. #07-3336 MARC ASHTON WITH JOHN TERRANCE HOMES, LLC, ON BEHALF OF <br />MITCH COOK OF CENTRAL BANK AND LARRY PALM OF LGL REAL ESTATE <br />INVESTMENTS, STONEBAY OUTLOT A - Continued) <br /> <br />Curtis stated as part of the preliminary plat resolution approval, the fees were outlined and are required <br />to be paid prior to final plat approval. <br /> <br />White inquired what amount is involved relating to fees. <br /> <br />Cook indicated their fees add up to approximately $137,000. <br /> <br />Palm stated with the letter of credit, it is over $200,000. <br /> <br />Turner stated in addition to the approval of the plat, the applicants would also be receiving approval to <br />construct the buildings and that the way the fees are structured in the resolution, the fees would be due <br />at the time of final plat approval. <br /> <br />Palm stated as it concerns the letter of credit on their lot, in his opinion it is excessive. <br /> <br />Kellogg stated the applicant could provide three estimates to their office but that typically the letter of <br />credit is calculated on their estimate of the costs. <br /> <br />Curtis stated the required letter of credit for lot one is $500,920 and on lot two is $408,551. <br /> <br />Palm stated they are required to post half a million dollars on a project that they will not be starting until <br />after the winter, which will force them to incur additional expense. <br /> <br />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 <br />it is for the LGL lot since they will be starting construction in the near future. <br /> <br />Turner noted there are two types of SAC and WAC charges that are required and that one of the SAC <br />and WAC charges is payments in lieu of assessments and the other SAC and WAC charges will go to <br />the Metropolitan Council. <br /> <br />Palm indicated he is not questioning the amount but merely the timing of the payment. <br /> <br />White suggested the applicants make a proposal to the city on the fees, noting that this application <br />would not be approved for another two weeks. <br /> <br />Cook stated it was his understanding the fees would be due at the time the permit was issued. <br /> <br />Palm stated that has been his experience as well with the City of Medina. <br /> <br />White recommended Staff consider that proposal by the applicants. <br /> <br />Gaffron stated after reviewing the development agreement, the interior street system, the sidewalks and <br />the common areas are to be privately owned and maintained with the exception of the public trail <br />located along Willow Drive. The bicycle/pedestrian trail would be constructed by the developer in <br />conjunction with phase one to ensure that the area intended for trail is not commercially developed, <br /> <br />PAGE 11 of 14 <br />Item #02 - CC Agenda - 11/26/07 <br />Approval of Council Minutes [Page 11 of 14]