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7 <br /> <br />- Trail Construction Costs ($120,000) <br />TOTAL CASH FEE DUE = ($39,440) <br /> <br />There are 348 remaining lots to be platted. The negative cash balance will be carried over and <br />balanced with the next phase of development. <br /> <br />Floodplain <br /> <br />Per the City Engineer’s letter dated March 12, 2021, Watermark 4th Addition does impact the <br />existing FEMA floodplain. The applicant is currently working on FEMA floodplain approval <br />associated with Watermark 2nd Addition. Anoka County wants the removal of the floodplain in <br />the Anoka County right-of-way to be included with the modified LOMR. <br /> <br />Wetlands <br /> <br />Wetland delineations were approved by RCWD and USACE in 2015. The delineation <br />identified 28 wetlands totaling approximately 20 acres in size. The original approved WCA <br />Sequencing Application proposed wetland impacts, wetland creation, wetland restoration and <br />upland buffer establishment. In April 2018, the developer revised the application to purchase <br />3.3671 acres of wetland banking credits as the proposed compensatory mitigation action. The <br />wetland fill, impacts and mitigation (wetland bank credits) occurred within the Phase I grading <br />limits and are complete. <br /> <br />In December 2020, the developer submitted another Wetland Replacement Plan to RCWD for <br />the balance of the site. Phase 3 grading impacts 5.9784 acres of wetland which require a 1:1 <br />mitigation. The plan was to buy wetland credits for mitigation; however, viable wetland <br />restoration and creation opportunities exist within Phase 3; therefore, onsite restoration and <br />creation will be used for mitigation. This is consistent with the Parks and Open Space Plan and <br />the establishment of the greenway corridor including wetlands, trails and open space. <br /> <br />An Open Space Easement in favor of the City was recorded in March 2019 over outlots <br />containing wetlands, open space, stormwater ponds, berms etc. Per the MDA, this Easement <br />will be revised and recorded over each outlot as they are platted. Additional easements and <br />declarations in favor of RCWD will be recorded over the wetlands and buffers. The <br />Watermark 4th Addition Final Landscape Plan details the location of required “Protected Open <br />Space Area” signs. <br /> <br />Development Agreement <br /> <br />Master Development Agreement <br /> <br />A Master Development Agreement was recorded in March 2019. The Agreement covers the <br />entire 372 acre site and details the terms and conditions of City approvals, the Development <br />Plans, the required public and private improvements as part of the first and subsequent phase, <br />the standards for the timing and financing of the improvements, required HOA documents and <br />the terms of payment.