12-12-2016 Council Packet - Laserfiche WebLink

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costs under this Section, the Developer will promptly reimburse the City any additional costs. If the eligible expenses incurred by the City exceed the amount in escrow and are not promptly reimbursed by the Developer, the City shall have the right to certify the unpaid balance to the subject property pursuant to Minn. Stat. §§ 415.01 and 366.012. The Balance on deposit in the escrow, if any, shall be returned to the Developer when the Development has been completed and written notification is received from the Developer requesting the funds. 20. STORM WATER AND DRAINAGE TRUNK FEE. The Land is subject to the standard Storm Water and Drainage Trunk Fee for six new two -acre lots at $7,680 per lot. $7,680.00 per Iot x 6 lots = $46,080.00 21. PARK DEDICATION FEE. The Land is subject to the standard Park Dedication Fee requirement for the City of Orono. Payment for five new lots is appropriate, as the site contains two existing homes on two separate parcels. Because the value of each newly created lot in the Plat will be in excess of the threshold value of $69,375.00, the eight percent (8%) park fee cap of $5,550.00 per lot will apply; therefore, the Park Dedication Fee is calculated as follows: 5 lots x $5,550.00 per lot $27,750.00 22. LANDSCAPING. All landscaping shall be installed in accordance with the approved landscape plan. Developer shall post a landscaping security (to be included in the letter of credit) at the time of the final plat approval to ensure that the landscaping is installed in accordance with the approved plan. 23. SPECIAL PROVISIONS. The following special provisions shall apply to development of the Land: A. Implementation of and adherence to the findings and conditions listed in (1) Resolution No. 6536 approving the Preliminary Plat for Property Located at 200-350 Stubbs Bay Road North File No. 15-3763, adopted by the Orono City Council on September 14, 2015; (2) Engineering Review #1, 190443v2 8