Agenda - Council - 07/25/2006 - Laserfiche WebLink

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. 5.10 . Development Agreement will obligate the City to reimburse Muir for any and all increased costs Muir incurs as a result of such oversizing. Reimbursement of City Expenses. The Development Agreement will . obligate Muir to pay to the City, contemporaneously with the execution of the Development Agreement, the amount equal to the sum of the out-of- pocket costs and expenses the City has incurred in connection with the development through the date of the Development Agreement and the value of City staff time, determined pursuant to the schedule of staff time . charges set forth on Exhibit C, through the date of the Development Agreement less any amounts Muir has previously paid pursuant to Section 7 below. The Development Agreement will obligate Muir to reimburse the City, on a monthly basis, for all costs and expenses the City incurs in connection with the development from and after the execution of the Development Agreement and to reimburse the City for City staff time, at the rate set forth on the attached Exhibit B, from and after the execution of the Development Agreement in connection with the development. The Development Agreement shall provide Muir with reasonable rights to audit and otherwise verify costs, expenses and staff time for which it is charged under the terms of the Development Agreement. 5.11 Park Land Dedication, SACIW AC and other Charges. The Development Agreement will obligate Muir to comply with all requirements of the City's Park Land Dedication Ordinance, Trail Fee Ordinance, SACIW AC Ordinances and simihrr ordinances. A schedule of the City's current parkland dedication fees, trail fees, SAC and WAC charges and building permit fees and. other fees and charges is attached to Addendum # 1 to the RFD. 6. Zonin2 and Subdivision Approvals. Muir will prepare and submit applications for all zoning, subdivision and other governmental approvals necessary in connection with Muir's proposed development of the Development Property. A preliminary schedule of the dates by which Muir anticipates will submit various applications is attached as Exhibit D. TheCity will consider and act upon all applications made to the City in accordance with the City's Ordinances. The parties contemplate that the Development Agreement will be executed in connection with and immediately following the City Council's approval granting of any zoning or subdivision approvals necessary for Muir's development of the DevelopmentProperty. If Muir~has not submitted applications for preliminary plat and preliminary site plan approval to the City and paid the amounts due at that time pursuant to Section 7 on or before December 31, 2006, either party may terminate this Agreement by written notice to the other party. 7. Partial Reimbursement for Citv Costs. . Muir agrees that at such time as Muir submits its applications for preliminary plat and/or preliminary site plan (but not sketch plan) approval to the City, Muir will pay to the City $100,000 as partial reimbursement of costs and expenses the City has incurred and the value of staff time the City has spent in connection with this development project. The amounts paid by Muir to the City pursuant to this Section 7 are nonrefundable. . 1919544v3 6 -279-