Agenda - Council - 07/12/2016 - Laserfiche WebLink

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CITY's discretion during said one (1) year period if the CITY determines it necessary to repair and/or replace any of the Stage I improvements. Said financial guarantee shall be in the form of a letter of credit, approved as to form by the CITY. The maintenance guarantee shall be in the amount of $Sixty Six Thousand Two Hundred Ninety Six Dollars ($52,748.00). The Required Improvements shall be installed in accordance with the approved plans and in accordance with CITY standards, CITY Code and plans and specifications which have been prepared by a competent registered professional engineer furnished to the CITY and approved by the CITY Engineer. The DEVELOPER shall obtain all necessary permits from all agencies before proceeding with construction. Within 30 days after the completion of the Improvements and before the security is released, the DEVELOPER shall supply the CITY with a complete set of reproducible "As Built" plans. 9. Payment of Sewer and Water Trunk Charges. In accorda 'e with the Allocation Agreement between the City, D.R. Horton, and Ramsey Town Cen*t. Li '?. sewer and water trunk fees will be paid at the time of building permit. 10. Stormwater Management Fee. The current _ )Y" .v .er Management Fee is $375.00 per unit. Stormwater management fee obligatior TG. ti developent are $38,625.00 (103 x $375.00). 11. Stage II Improvements Required. " a II Improvements which the CITY requires the DEVELOPER to construct within'.: 1 as follows: a) Street striping and signing b) Traffic signing c) Future Through Street Si' 1_'Q) d) Street lights e) Street light mainter PI) f) Street sweeping g) Seal coating 64 ("Stage II Irr x n..;nts") 12. Payment for Stage II Improvements. The CITY will install in the Plat the Stage II Improvements. The DEVELOPER shall deposit an amount that is determined by the CITY to be adequate to aid in the operation and maintenance of street lights in locations within the Plat determined by the CITY Engineer and installed by Connexus for the first three (3) years after final plat approval. The CITY will bill residents in the Plat at least quarterly for street light maintenance and operation costs; billing will be initiated at the time a residence connects to municipal water and sanitary sewer. The DEVELOPER will pay to the CITY an amount equal to 100% of the CITY Engineer's estimated construction cost of the items prior to recording of the final Plat. The CITY Engineer's estimated cost of construction is: a) Street striping and signing (15@$200 +5038 striping) b) Traffic signing (6@$200) c) Future Through Street Signing (0_@$0) Ramsey Town Center 2"d Addition Development Contract Page 4 of 13 Pages $8,038.00 $1,200.00 $0.00