Agenda - Council - 09/24/2024 - Laserfiche WebLink

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construct and install the Required Improvements as required herein, the City Council may order the completion of the Required Improvements with CITY day labor and/or by letting contracts for said completion and draw upon the escrow for payment. Only the City Council shall have the authority to direct completion of the Required Improvements and withdraw from the escrow account. The PERMITTEE hereby grants permission and a license to the CITY and/or its contractors and assigns to enter upon the Subject Property for the purpose of completing the construction and installation of the Required Improvements in the event of the PERMITTEE's default. 10. Site Inspection Fees. The PERMITTEE shall be responsible for all site inspection costs incurred by the CITY related to the installation of Required Improvements. The PERMITTEE shall make a cash deposit into the appropriate escrow account at the CITY and the CITY shall have the authority to draw upon these funds for the purpose of compensating for inspection services. The amount of the deposit shall be equal to five percent (5%) of the estimated cost of the Required Improvements, which equates to Thirty -Five Thousand Three Hundred Eighty -Three Dollars and Thirty -Five Cents ($35,383.35) (5% x $707,667.00). Upon completion of the Required Improvements to the satisfaction of the CITY, any surplus balance remaining in the CITY's escrow account shall be refunded to the PERMITTEE. 11. Street Sign Fee. While the CITY provides and installs the street name and traffic control signage, the PERMITTEE is responsible for paying for them at a rate of $245 per sign. PERMITTEE must pay a Street Sign Fee of $2,450.00 ($245 x 8 no parking signs; $245 x 2 stop signs). SECTION II PLATTING FEE INFORMATION The Subject Property is legally described on Lot 1, Block 1, Donna Farms. The Donna Farms plat application was submitted by another entity, and that entity bears the responsibility of paying all applicable platting fees. All fees must be paid prior to the PERMITTEE constructing the Required Improvements. Items 12 through 17 in this section are included as reference to the Donna Farms platting fees. 12. Storm Water Management Fee. The PERMITTEE is responsible for satisfying applicable Storm Water Management Fee requirements for the plat of Donna Farms. The PERMITTEE must pay a Storm Water Management Fee of $46,452.00 (8.73 acres x $5,321.00 per acre). 13. Park Dedication and Trail Development. The PERMITTEE is responsible for satisfying applicable Park Dedication requirements with the plat of Donna Farms. The PERMITTEE must pay $44,523 (park dedication) and $11,349 (trail development). These amounts are based off 8.73 acres at $5,100 per acre (park dedication) and $1,300 per acre (trail development). 14. Sanitary Sewer Connection (Trunk) Fees. The PERMITTEE is responsible for satisfying applicable Sanitary Sewer Trunk Fee requirements for the plat of Donna Farms. The PERMITTEE must pay a Sanitary Sewer Trunk Fee of $35,470.00 (8.73 acres x $4,063.00 per acre). 15. Sanitary Sewer Lateral Benefit Fees. The PERMITTEE is responsible for satisfying applicable Sanitary Sewer Lateral Benefit Fee requirements for the plat of Donna Farms. The PERMITTEE must pay a Sanitary Sewer Lateral Benefit Fee of $77,872.00 (8.73 acres x $8,920.00 per acre). 16. Water Connection (Trunk) Fees. The PERMITTEE is responsible for satisfying applicable Water Trunk Fee requirements with the plat of Donna Farms. The PERMITTEE must pay a Water Trunk Fee of $64,104.00 (8.73 acres x $7,343.00 per acre). U-Haul Development Agreement Page 4 of 9