2021-035 Council Resolution - Laserfiche WebLink

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Century Farm North 7th Addition Development Agreement . May 14, 2018 For residential properties,the availability charge shall be paid at the time of subdivision approval or at the time of hook-up,whichever is first. Commercial/Industrial/Institutional availability charges shall be paid at the time of building permit. Fees are based on the number of sanitary access charge (SAC) units assigned by Metropolitan Council Environmental Services(MCES). Residential uses shall be assigned one unit per dwelling unit unless otherwise noted by MCES. City Water (CWAC) $1,360.00 Per SAC Unit An estimate of the total charge and the trunk utility credit for developer installed trunk oversizing is specified in Exhibit C. g. Surface Water Management Area Charges The City established a trunk area charge to uniformly distribute the costs of public trunk surface water infrastructure and water quality improvements.The Surface Water Management Charge shall be based on developable acreage, in the amount specified in Exhibit C. 17.Assessment of Charges and Waiver of Rights. • a. In consideration of the construction of City Improvements listed in Paragraph 8 and/or provision of sewer, water and storm water services,the Developer agrees that the costs of City Improvements together with Trunk Sewer Unit Charge,Trunk Water Unit Charge and the Surface Water Management Area Charge(collectively, "the Charges") may be assessed against the Subdivision parcels. The Developer hereby waives any and all procedural and substantive objections to the special assessments, including notice and hearing requirements,any claim that the assessments exceed the benefit to the properties, and any right to appeal. b. Unless the Developer pays the entire balance owed for the Charges contemporaneously with the execution of this Agreement, the Developer shall provide to the City a cash escrow or irrevocable letter of credit in an amount equal to 35%of-the total assessments for the Charges as estimated by the City Engineer(see Exhibit C). The letter of credit shall be in a form, and from a bank, as approved by the City. The letter of credit or cash escrow may be used by the City upon default by Developer in the payment of special assessments. The cash escrow or letter of credit shall remain in place throughout the term of the special assessments. The letter of credit may not be terminated without the City's written consent. page 8 •