Agenda - Council - 02/11/2025 - Laserfiche WebLink

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Paragraph 11 of this Agreement. The determination of completion of the construction of the Required Improvements shall be made by the CITY. In the event the PERMITTEE fails to 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 Seven Thousand Seven Hundred Eighty -Three Dollars and No Cents ($7,783.00) (5% x $155,661.00). 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 $265 per sign. PERMITTEE must pay a Street Sign Fee of $530.00 ($265 x 2 "no parking from here to corner" signs). SECTION II DEVELOPMENT FEE INFORMATION The Subject Property is a buildable lot of record. However, the lot is not currently connected to municipal water, sanitary sewer, or storm sewer, and the Required Improvements propose connecting to each of these three utilities. Thus, Items 12 through 17 in this section are included in the development fees for Blanery LLC. The PERMITTEE must pay these fees prior to constructing the Required Improvements. 12. Storm Water Management Fee. The PERMITTEE is responsible for satisfying applicable Storm Water Management Fee requirements for connecting to municipal storm sewer services. The PERMITTEE must pay a Storm Water Management Fee of $5,207.00 (0.95 acres x $5,481.00 per acre). 13. Park Dedication and Trail Development. Since the Subject Property is a lot of record and is not subject to platting, no Park Dedication or Trail Development fees apply to this project. 14. Sanitary Sewer Connection (Trunk) Fees. The PERMITTEE is responsible for satisfying applicable Sanitary Sewer Trunk Fee requirements for connecting to sanitary sewer services. The PERMITTEE must pay a Sanitary Sewer Trunk Fee of $3,976.00 (0.95 acres x $4,185.00 per acre). 15. Sanitary Sewer Lateral Benefit Fees. The lateral benefit charge was paid through TIF District #2. 16. Water Connection (Trunk) Fees. The PERMITTEE is responsible for satisfying applicable Water Trunk Fee requirements for connecting to municipal water services. The PERMITTEE must pay a Water Trunk Fee of $7,185.00 (0.95 acres x $7,563.00 per acre). Blanery LLC Development Agreement Page 4 of 9