09-12-2016 Council Packet - Laserfiche WebLink

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Woods Edge Development Agreement September 12, 2016 Page 6 b. Infiltration Area located in Lot 8, Block 2. 14. Recording and Release. The Developer agrees that the terms of this Development Agreement shall be a covenant on any and all property included in the Subdivision. The Developer agrees that the City shall have the right to record a copy of this Development Agreement against the Subdivision described on Page 1 with the Anoka County Recorder to give notice to future purchasers and owners. 15. Escrow for City’s Costs. a. The Developer agrees to establish a non-interest bearing escrow account with the City in an amount determined by the City Administrator or his designee for the payment of all costs incurred by the City related to the development of the Subdivision including, but not limited to, the following (See Exhibit C for breakdown of costs): i. Administration - 3% of Developer Improvement Costs ii. City Engineering. b. If the above escrow amounts are insufficient, the Developer shall make such additional deposits as required by the City. The City shall have a right to reimburse itself from the Escrow upon notice to the Developer, with suitable documentation supporting the charges. 16. Developer Fees. At the time of execution of this Agreement the Developer shall pay the following fees related to the development of the Subdivision (See Exhibit C for breakdown of costs): a. Park Dedication The Park Dedication Fee for this site is calculated as follows: 60 units x $2,500 = $150,000.00 Developer shall receive a Park Dedication Credit of $500.00 for the dedication of Outlot D, Woods Edge. b. Aerial Photo Fees c. Trunk Sewer Unit Charges The City established trunk unit charges to uniformly distribute the costs of public trunk sanitary sewer infrastructure. Each individual connection to the sanitary sewer system shall be charged a unit charge per SAC unit (currently at $3,073 per