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Watermark 5" Addition <br />Development Agreement <br />August 8, 2022 <br />Development once final plat approval for 518 lots has been granted by the City. <br />With the approval of the 5t" addition final plat, there will be 613 approved lots; <br />therefore, the clubhouse shall be constructed with the approval of the 5t" <br />Addition. <br />The following is a summary of the land dedication and fees: <br />Watermark 5th Addition <br />Total # Units = <br />97 <br />x Park Dedication Fee <br />$3,160 <br />= Cash in Lieu Value <br />$306,520 <br />- Negative Balance from Watermark 4th <br />($39,440) <br />- Trail Construction Costs <br />($7,500) <br />TOTAL CASH FEE DUE _ <br />$259,580 <br />The negative cash balance from Watermark 4t" Addition was the result of <br />parkland dedication and trail construction cost credits exceeding the per unit <br />cash in lieu value. The negative is carried over and balanced with 5t" Addition. <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 $8/month/light. After <br />that the City will assume the costs. <br />c. GIS Mapping Fees <br />d. 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 />Trunk Charge <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 />page 8 <br />