06-27-2022 City Council Packet - Laserfiche WebLink

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Lake Amelia Woods Development Agreement June 27, 2022 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 B for breakdown of costs): a. Park Dedication The Park Dedication Fee for this site is calculated as follows: 4 units x $3,160.00 per unit = $12,640.00 b. Tree Preservation Mitigation Fee The Tree Preservation Mitigation Fee for this site is calculated as follows: 81 trees x $485.00 per tree = $39,285.00 c. Maintenance and energy costs not applicable d. GIS Mapping Fees e. Trunk Sewer Connection Fees not applicable. f. Trunk Water Connection Fees not applicable. g. Surface Water Management Area Charges not applicable. 17. Assessment of Charges and Waiver of Rights. 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 B). 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 page 7