Agenda - Council - 10/14/2003 - Laserfiche WebLink

Home

10. 11. I2. 12. LRRWMO and MPCA permits. No Certificate of Occupancy for the structure will be issued until the Required Improvements, or a financial surety for same, are accepted by the City. IMPROVEMENT CONSTRUCTION SCHEDULE. The Required Improvements shall be completed before October 1, 2004. RECOGNITION OF LOCATION. The Permittee herein agrees to recognize Ramsey as the City of location on all forms of advertising and business correspondence whenever reasonably prudent to do so. ESCROW CHARGES. 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 Five Hundred Seventy Eight Thousand Dollars and No Cents ($578,000.00), 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 #12 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 pul'pose 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 Permittee shall provide a maintenance guarantee to ensure the survival of the plantings. Said maintenance guarantee shall consist of cash or a letter of credit, approved as to form by the City, in the amount of Twelve Thousand Four Hundred Fifty Dollars and No Cents $12,450.00 [# plantings (145 trees, 540 shrubs) x cost/planting ($100/tree, $50/shrub) x 30% average non-survival rate], which shall be in effect for a two year period commencing on the date of the City's acceptance of said plantings as part of the Required Improvements. At the end of the two year period, the maintenance guarantee shall be returned to the Permittee. The determination that:all plantings that have been planted in accordance with the Site Plan have either survived or have been replaced shall be made by the City Council after consultation with the City Engineer. In the event the Permittee fails to maintain the required plantings for a two year period, the City Council may order the replacement of plantings with City day labor and/or by letting contracts and draw upon the escrow for payment. Only the City Council shall have the authority to direct replacement of the plantings 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 replacing plantings in the event of the Permittee's default. INSPECTION FEES. The Permittee shall be responsible for all inspection costs incurred by the City related to the installation of the Required Improvements. The Permittee 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, which equates to Nineteen Thousand Three Hundred Dollars find No Cents ($19,300.00). This is to cover the cost of inspecting the storm sewer construction, site grading and connection to City utilities. Upon completion of the Improvements to the satisfaction of the Eity, any surplus balance remaining in the City's escrow account shall be refunded to the Permittee.