Agenda - Council - 06/11/1992 - Laserfiche WebLink

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Th~ City will construct the Public Improvements under the terms and conditions of 'theI Agreement, and will follow the City's normal inspection and acceptance practices, pay its contractor for the work and will not permit liens to be files against ! thelPlat. ARTICLE II WAIVER Dev~10per [waives all fight to public hearing and other statutory, City Charter and City Ordig ',~ce ~ghts, and specifically all fights to appeal, all as granted to a property owner under Cha~ter 429 of Minnesota Statutes, Chapter 8 of the City Charter and City Ordinance 84-8' r~sp~tively, as said fights granted therein relate to those Public Improvements described i~ the Agreement. ARTICLE III IMPROVEMENTS The City construeted the Public Improvements pursuant to its regular methods of making impr0,~m{nts. The Developer agrees that special a~sessments for said Public ImproCeme/!ats may be levied by the City, without Developer s objection, after construction is co.ended, and that the City may recover its costs and expenses (including legal, fiscal and an~ine~ring). The special assessments will be payable in equal installments together with inlere~t thereon as determined by the City over a period of five (5) years and further upon'.~ose terms as required in the Agreement. ARTICLE IV ESTIMATEDr CONSTRUCTION COST AND ESTIMATED ASSESSMENTS The estimated construction cost of the Improvements, as estimated by the City Engineer, is as follo~vs:: Trunks (Sanitary and Water) ;r Stahdard Trunk Charge* $135,700 ! Sl~Cial Trunk Assessment** 193,615 tScwer Lateral, Water Lateral, 128,957 ! Stormwater, Streets, and Trails and ~ Park Overhead*** ~T'AL $458,272 i * $1,357/Iot X 100 lots = $135,700 ** 'l'ot~ Special Trunk Assessment is $515,015, assessed against all properties within the ~ District (266 lots) or $1,936.15/lot X 100 lots = $193,615. *** Total costs are $716,430 assuming development of 100 lots, or $7,164.30/lot. A-2