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Watermark 2nd Addition <br />Development Agreement <br />October 28, 2019 <br /> page 7 <br />16. Developer Fees. At the time of execution of this Agreement, the Developer shall pay <br />the following fees related to the development of the Subdivision (See Exhibit C for <br />breakdown of costs): <br />a. Park Dedication <br />The Park Dedication Fee for this site is calculated as follows: <br /> <br />Watermark 2nd Addition <br />Total # Units = 57 <br />x Park Dedication Fee $3,000 <br />= Cash in Lieu Value $171,000 <br />- Land dedication value $0 <br />- Trail Construction Costs ($3,900) <br />TOTAL CASH FEE DUE = $167,100 <br /> <br />b. The Developer shall pay 15 months of maintenance and energy costs for street <br />lights installed within the Subject Property at the rate of $7/month/light. After <br />that the City will assume the costs. <br />c. Sealcoating. The Developer will pay the cost of sealcoating the streets within <br />the development at a cost of $28,800.00. The sealcoating will be completed <br />within three to seven years following completion of the wear course placement. <br />d. GIS Mapping Fees <br />e. Trunk Sewer Connection Fees <br />The City established trunk utility connection fees to uniformly distribute the <br />costs of public trunk sanitary sewer infrastructure. The Trunk Utility Connection <br />Fee consists of two components; a Trunk Charge and an Availability Charge. <br /> <br />Trunk Charge <br /> <br />The trunk charge shall be paid at the time of subdivision approval or at the time of <br />hook-up, whichever is first. Residential trunk charges are based on one unit per <br />dwelling unit. Commercial/Industrial/Institutional (CII) trunk charges are based on <br />a factor of 2.92 units per acre.