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6 <br /> <br />(HOA). Per City details, the public street signs will be white letters on green background and <br />private street signs will be white letters on brown background. The Sheets 38-40 of the <br />Watermark 1st Addition Street Construction Plans include “Road will be Extended in the <br />Future” signs and locations. <br /> <br />Watermain, sanitary sewer main, stormwater facilities, sidewalks and trails are being <br />constructed consistent with the PUD Development Stage Plan. <br /> <br />Public Land Dedication and Fees <br /> <br />As approved with Resolution No. 16-51, the City will require the following combination of <br />land dedication and cash is lieu of land dedications: <br /> <br />1. Land dedication for the public and private parks will be credited from the total payment <br />in lieu. <br />2. Costs for public park improvements and trail construction will be credited from the total <br />payment in lieu. <br />3. Improvements to the private parks and recreational center will not be credited from the <br />total payment in lieu. <br /> <br />The 1st Addition will dedicate to the HOA for ownership and maintenance the private park in <br />the townhome neighborhood and the private park in the Discovery home neighborhood. The <br />tot lot in the townhome neighborhood shall be constructed with the 1st Addition. The private <br />park in the Discovery neighborhood is an open space area and will not be developed. <br /> <br />Trail will be installed along 21st Avenue North from the south boundary to 20th Avenue and <br />then north along 20th Avenue approximately 560 feet. Trail will also be installed along the <br />northern edge of the townhome neighborhood. <br /> <br />The Master Development Agreement (MDA) further details the timing and value method for <br />land dedication and as well as cash payments. The Developer shall pay a cash fee in lieu of <br />park dedication at the time of subdivision approval of each phase. The present fee in lieu of <br />park dedication is $3,000.00 per residential unit. Trail construction costs will be credited. Upon <br />conveyance of title for the Public Park, Developer shall be credited park dedication fees in an <br />amount equal to the fair market value of the unplatted land. The Public Park shall be deeded in <br />fee to the City at the time of the final plat for the first phase of the Development. The deed shall <br />be placed in escrow and released to the City at a future date as specified in the MDA. <br /> <br />Watermark 1st Addition <br />Total # Units = 193 <br />x Park Dedication Fee $3,000 <br />= Cash in Lieu Value $579,000 <br />(Trail Construction Costs) = ($56,560) <br />TOTAL CASH FEE DUE = $522,440 <br />