Agenda - Planning Commission - 10/06/1998

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The Planning Commission shall review the site plan/building design plan application. After said review, the Planning Commission shall adopt findings of fact and shall make a recommendation for approval, o~ denial, or modification to the Council. The Council shall review the application, ~'~ r.~,~:~,,~ of c. , ~,~,~ +,, · ,ae~ :t and either approve or deny the application. The Council may, as a condition of approval, require certain additional conditions in either the proposed development agreement or the site/building design plan. The City Council's final action on the application shall be the City's final action on the application. Subd. 3. Development Contract. Prior to approval of the site/building design plan application and prior to construction of any required site improvements, the applicant shall enter into a contract with the City. This contract shall require the applicant to construct all improvements on the site at the applicant's sole expense and in accordance with City plans and specifications. Failure of the Developer to execute the Development Contract within 120 days of site/design approval, shall require submission of a new application by the applicant. The Development Agreement shall provide that the Developer will deposit any required escrow with the City prior to receipt of any building permits and will complete all improvements permitted by the Development Contract within one year of the date of site/building design approval. Thereafter, the Council may extend the period upon written application by the Developer, subject to applicable performance conditions and requirements, or the Council may require submission of a new site/building design plan application. Said contract shall also provide that the City will be reimbursed for all costs incurred by the City for engineering and legal fees and other expenses in connection with the processing and administration of the application. The performance of said contract shall be financially secured by a cash escrow deposit or other security as hereinafter set forth. In addition, the contract shall provide that the applicant agrees to permit the City to enter the site and complete any City required improvements which the applicant fails to complete. The contract shall aisc provide that it is binding on ail heirs, assigns, and successors of the applicant. A copy of the contract shall be ke on file as of the permanent record of the site~,,,~-'~ a ,,,,va ..... o ...................,,~ To ensure that the site is developed in accord with the approved plans and City specifications, the applicant shall provide a cash escrow, certificate of deposit, letter of credit fi.om an acceptable financial institution or performance bond. The financial security shall be in an amount which equals 150% of the Estimated construction cost of all required City improvements (as estimated by the City Engineer) as outlined in this chapter exclusive of the cost of the actual building(s) to be constructed on the site. The financial security required herein may be used by the City to install or complete any of the City's required on-site improvements which the applicant fails to complete. Upon final approval by the City Engineer certifying that all on-site improvements have been completed in accordance with the development agreement and City standards, the remaining financial security shall be released to the applicant. Subd. 4. Standards. Standards for all business and industrial districts shall be as specified in this chapter unless specified otherwise in this section.