Agenda - Council - 07/22/2025 - Laserfiche WebLink

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shall be required to provide the landscaping maintenance guaranty described in Section III 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 Twenty -Five Thousand Five Hundred Eighty -Seven Dollars and Zero Cents ($25,587.00) (5% x $511,749.00). 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. Storm Water Management Fee. The PERMITTEE is responsible for satisfying applicable Storm Water Management Fee requirements for the plat of Bunker Lake Crossing. The PERMITTEE must pay a Storm Water Management Fee of $21,979.00 (4.01 acres x $5,481.00 per acre). 12. COR Stormwater Basin Contribution. The PERMITTEE is responsible for paying $9,650.00 to contribute to the costs of the regional stormwater basin in lieu of providing on -site stormwater basins. This amount is based on the engineer's cost estimate provided by the PERMITTEE. 13. Park Dedication and Trail Development. The PERMITTEE is responsible for satisfying applicable Park Dedication requirements with the plat of Bunker Lake Crossing. The PERMITTEE must pay $21,654 (park dedication) and $5,614 (trail development). These amounts are based off 4.01 acres at $5,400 per acre (park dedication) and $1,400 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 Bunker Lake Crossing. The PERMITTEE must pay a Sanitary Sewer Trunk Fee of $16,782.00 (4.01 acres x $4,185.00 per acre). 15. Water Connection (Trunk) Fees. The PERMITTEE is responsible for satisfying applicable Water Trunk Fee requirements with the plat of Bunker Lake Crossing. The PERMITTEE must pay a Water Trunk Fee of $30,328.00 (4.01 acres x $7,563.00 per acre). SECTION 11 PERMITS AND OCCUPANCY 16. Requirements for Building Permit. Bunker Lake Crossing LLC Development Agreement Page 4 of 9