Agenda - Council - 09/26/2023 - Laserfiche WebLink

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10. Storm Water Regional Basin Contribution. In lieu of constructing on -site storm water management basins, ALDI shall contribute an equal amount as the cost of constructing on -site basins to the CITY for use of the regional storm water basin in the amount of $23,220.00. 11. Storm Water Management Fee. ALDI is responsible for satisfying applicable Storm Water Management Fee requirements for the plat of COR FOUR. ALDI must pay a Storm Water Management Fee of $7,715.00 (1.45 acres x $5,321.00 per acre). ALDI acknowledges that these fees are estimates. The rate in effect when the Plat is recorded will be collected. 12. Park Dedication. ALDI is responsible for satisfying applicable Park Dedication requirements with the plat of COR FOUR. ALDI must pay $7,395.00 (park dedication) and $1,885.00 (trail development). These amounts are based off 1.45 acres at $5,100 per acre (park dedication) and $1,300 per acre (trail development). 13. Sanitary Sewer Connection (Trunk) Fees. ALDI is responsible for satisfying applicable Sanitary Sewer Trunk Fee requirements for the plat of COR COUR. ALDI must pay a Sanitary Sewer Trunk Fee of $5,891.00 (1.45 acres x $4,063.00 per acre). ALDI acknowledges that these fees are estimates. The rate in effect when the Plat is recorded will be collected. 14. Water Connection (Trunk) Fees. ALDI is responsible for satisfying applicable Water Trunk Fee requirements with the plat of COR FOUR. ALDI must pay a Water Trunk Fee of $10,647.00 1.45 acres x $7,343.00 per acre). ALDI acknowledges that these fees are estimates. The rate in effect when the Plat is recorded will be collected. SECTION II PERMITS AND OCCUPANCY 15. Requirements for Building Permit. a. No building permit shall be issued until ALDI has: (a) provided the CITY Building Official with a Certificate of Survey; (b) the Financial Guaranty described in Section I Paragraph 8 to the CITY; and (c) obtained all necessary permits from the Lower Rum River Watershed Management Organization and has provided a copy of such permit to the CITY, if applicable; and b. No occupancy permit shall be issued until ALDI has: (a) constructed vehicular access to the Subject Property, including the installation of at least one layer of bituminous surfacing; and (b) constructed all utilities and storm water facilities this Agreement requires to serve the Subject Property and such utilities and storm water facilities are in place, operational and accepted by the CITY as provided herein. SECTION III ON -SITE LANDSCAPING 16. Maintenance Guaranty for Landscaping. It is herein agreed that ALDI shall provide a maintenance guaranty to ensure the survival of the plantings that are a part of the Required Improvements. Said maintenance guaranty shall consist of cash or an irrevocable letter of credit, reasonably approved as to form by the CITY, in the amount of $6,300.00 [#plantings (28 trees and 168 shrubs) xcost/planting ($300/tree and $75/shrub) x 30% average non -survival rate], which shall be in effect for a two (2) year period commencing on the date of the CITY's written acceptance of said plantings as part of the Required Improvements. Aldi Development Agreement Page 4 of 9