Agenda - Council - 10/23/2001 - Laserfiche WebLink

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ll. 12. 13. 14. 15. Management Organization. No Certificate of Occupancy for the structure will be issued until: a) the Required Improvements are accepted by the City; and b) the landscaping maintenance guarantee has been provided in accordance with Item #15 of this Development Permit. IMPROVEMENT CONSTRUCTION SCHEDULE. The Required Improvements shall be completed before October 23, 2002. STORMWATER MANAGEMENT FEE. The CITY has enacted a Stormwater Management Fee in the amount of $375.00 per lot/unit. A cash payment in the amount of Seventeen Thousand Six Hundred Twenty Five Dollars ($17,625.00) (47 x $375.00 per lot) is due at the CITY prior to releasing the building permit. INSPECTION FEES. The DEVELOPER shall be responsible for all inspection costs incurred by the City related to the installation of the Required Improvements. The DEVELOPER shall make a cash deposit into the appropriate escrow account at the City and the City shall have the authority to draw upon these funds for the purpose of compensating for inspection services. The amount of the deposit shall be equal to five percent (5%) of the estimated cost of the Required Improvements or three thousand two hundred dollars ($3,200.00). Upon completion of the Improvements to the satisfaction of the City, any surplus balance remaining in the City's escrow account shall be refunded to the DEVELOPER. ESCROW FOR REQUIRED IMPROVEMENTS. In order to ensure the installation of the Required Improvements in accordance with City specifications and in a timely manner, the Permittee shall be required to deposit with the City a cash escrow or letter of credit, approved as to form by the City, in the amount of Ninety Six Thousand Dollars ($96,000) which is 150% of the City's estimated cost of the Improvements. Prior to the issuance of the building permit, all financial guarantees must be provided as required herein. Upon completion of the construction of the Required Improvements, the financial guarantee shall be returned to the Permittee and the Permittee shall be required to provide the landscaping maintenance guarantee described in Item #14 of this Development Permit. The determination of completion of the construction of the Required Improvements shall be made by the City Council after consultation with the City Engineer. In the event the Permittee fails to construct and install the Required Improvements 'as required herein, the City Council may order the completion of the Required Improvements with City day labor and/or by letting contracts for said completion and draw upon the escrow for payment. Only the City Council shall have the authority to direct completion of the Required Improvements and withdraw from the escrow account. The Permittee hereby grants permission and a license to the City and/or its contractors and assigns to enter upon the Site for the purpose of completing the construction and installation of the Required Improvements in the event of the Permittee's default. MAINTENANCE GUARANTEE FOR LANDSCAPING. It is herein agreed that the Developer shall provide a maintenance guarantee to ensure the survival of the plantings around the apartment building. Said maintenance guarantee shall consist of cash or a Letter of Credit, approved as to form by the City, in the amount of Three Thousand Three Hundred Lord of Life Senior Apartment Building Development Permit Page 3 of 5 -297-