Ordinance - #99-09 - 07/27/1999 - Laserfiche WebLink

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consulting services, engineering fees, legal fees, copying charges, City staff involvement, publication costs, and written notice to adjacent property owners. Subd. 3. Development Contract. Prior to approval of the site/building design plan application and prior to construction of any required site improvements, the applicant shall enter into a contract with the City. This contract shall require the applicant to construct all improvements on the site at the applicant's sole expense, unless otherwise approved by City Council, and in accordance with City plans and specifications. The Developer shall sign the contract and deposit any required escrow with the City prior to receipt of any building permits and will complete all improvements permitted by the Development Contract within one year of the date of site/building design approval. Thereafter, the Council may extend the period upon written application by the Developer, subject to applicable performance conditions and requirements, or the Council may require submission of a new site/building design plan application. Said contract shall reaffirm that the City will be reimbursed for all costs incurred by the City for processing and administration of the application. The performance of said contract shall be financially secured by a cash escrow deposit or other security as hereinafter set forth. In addition, the contract shall provide that the applicant agrees to permit the City to enter the site and complete any City required improvements which the applicant fails to complete. The contract shall also provide that it is binding on all heirs, assigns, and successors of the applicant. A copy of the contract shall be kept on file as part of the permanent record of the site. To ensure that the site is developed in accord with the approved plans and City specifications, the applicant shall provide a cash escrow, certificate of deposit, letter of credit from an acceptable financial institution, performance bond, or pledge and payment. The financial security shall be in an amount which equals 150% of the estimated construction cost of all required City improvements (as estimated by the City Engineer) as outlined in this chapter exclusive of the cost of the actual building(s) to be constructed on the site. The financial security required herein may be used by the City to install or complete any of the City's required on-site improvements in the event the applicant fails to do so. Upon request by the applicant, the City may release the financial security in partial payments on a pro rata basis as the various on-site improvements are completed to the satisfaction of the City Engineer. Upon final approval by the City Engineer certifying that all on-site improvements have been completed in accordance with the development agreement and City standards, the remaining financial security shall be released to the applicant. Section 9.11.20 (Non-Residential Performance Standards) is hereby repealed and amended to read as follows: 9.11.20 Non-Residential Development Standards.