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<br />me UeVtlOpe:
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<br />Subd. 4. Cir.\ participation. residential de\'t'lupment~.
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<br />Certain improvements, The owner or subdl\'lOe; engag:ed lT~ the
<br />o{"veiapment or iano~ wrllch art zoned ReSlOentl~L Dlsm~T ma\
<br />reuueSl Cny nartlCIpatIOn 111 the pa\,mem ot the costs OI me msta.llatloi,
<br />of sannary sewer. water s~'srem. street, park. rrail. streel h~hts. curt'
<br />and J;utter and storm sewer lmprovemems requIred D~' rm;-, sectlon
<br />and. In such event, such owner or subdivider snall campi\' wan me
<br />req urrements of thIS seetlor., ClfY paniClpatlOn shall be as aetenmned
<br />hy the CiTY Council pursuant to a performance contract. The CounCIl
<br />shall. on a case by case basis. derem1ine infmstructure Impact on areas
<br />outside the sUDdivIslon. City requIred o\'ersIzrng 0;- mfrasrructure
<br />Devond We appropnure stanaara residenna.l or commerCIal eOUl\'aienr
<br />shall be eiu!ible for fundin~ bv the Cit\', Source of Cit\, fundln~ shal:
<br />nm be u ael-enTIlmne of financIal parucIpauon. . ,
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<br />b, installation by City. All Stage I improvements shall be pla.nned.
<br />designed. inspected and/or approved by the Cay Engineer. The
<br />administrative charges of the City in connectlon with such
<br />improvements shall be included in rhe costs determined in Subdivlslon
<br />:::. of this section,
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<br />Minimum Escrow Requirements for Stage I Improvements,
<br />For City :.lwarded improvements. the owner or subdivide:- shall make
<br />a cash denosit with HIt Cit:- Finance Denanmem 1n a minimum amount
<br />eQual to 1:; 'if of the Ci t\ En !.!ineer s estimated CDS: of installrn f:. rhe
<br />Stage I Development mlprovements descriDed in fY.5U.5U SUDd, 3D
<br /><iDove. ln lieu or this c:lsh aeposi:. rhe owner 0:- subdi\'ide:- m:lY file 2
<br />lene; of credi: approved by the City in a minimum amount equal to
<br />2()Cfc of the Cit\, Encineer's estimared COSt of the Sra!.!e I Development
<br />improvements: The decision on whether a cash escrow or letter or
<br />credit \vill be used for rhis escrow requiremem wi11 be made b\' the
<br />City Council on Ci C2.se by case basis.
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<br />For non-City awarded improvements. the owner 0; subdi\'iaer shall
<br />aenosi: witi'; the Ct\' Finance Deparrmem a casn amoum 0::- lener 0:"
<br />::iedit e(1L:.~l t(~ 125-'l( 0: tne tOt~l 20S: of SLl2f: imnrovements as
<br />"'s';n"\'lTP;" n" tn' f-' r;t\, =n(TinPA~ in~luri;n('! rhe> 0' il;~'Dl'" ""srimat""c'
<br />.... .......J.JIi.4L............ l..- ,,\ .... ____.,. ....... .::-J.........""".... . I.. -.....~ ..1__ .........L.4. .... -..... L......ll ......
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<br />-=XDens~ 0;- tne f_Iry ro~ englnee::-1ng. iegai~ rls~a6. aG:run~srraI1ve anc
<br />O1..'1e:- expenses lncurrec oy me CIty In conne;::IQf; \.\'itr: tne maiJng. 0:'
<br />~u:.. improvements, Or. "- momi'li\ oasis as tot :Jrolec: oro:rresses. me
<br />Cl:Y EngIneer Shall estimate the amoun: or 'work compieted anc
<br />recommend to the Cry council me amount of Tunas to De reie:lSeC to
<br />rh~ subdivide:-.
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<br />There shaL De an escrow agreement wnich snal} nroviae thai In rhe
<br />evem the rec:.::red improvements are nor compieted within one yea:-.
<br />3.L 3.mOUnI~ I1=lc unoe~ the es:rov,. ~rrreeme:1: shal: be autom~Iicall\.
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<br />:05: o:~ ~.8:1101e.::nf ~ne required imnrovemenrs. I: :he funis a\'ailab~::
<br />.~ ~.
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<br />\~.:tnlr; S~lC escro\\ ~::-e no: surrl:len: to :Offi:Jle:t: tn~ reOU:irec
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<br />l~:J~ovement~. tne ne::-essa:"y aQG::IOn3.~ COS: Ie In:: :_l:\" sn3.~~ Dt
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<br />~~ s=ssec. 2.';:11 ns: :~e S'J :Jd: \'~S1 orh
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