11-14-2022 City Council Packet - Laserfiche WebLink

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Escrow deposits can be submitted through one of the following procedures: a. Escrow can be paid to the City upon execution of an agreement signed by both the payee and the City. b. The title company or lending institution can hold the escrow upon execution of an agreement signed by both the title company or lending institution and the City. A partial release, of a multi -item escrow, will be charged a $75.00 non-refundable administrative fee. RIGHT-OF-WAY MANAGEMENT Excavation Permit Fees Hole (includes administration, plan review, $ 125.00 inspection, testing and mapping) Trench (includes administration, plan review, $ 70.00 /100 Lineal Feet plus Hole Fee inspection, testing & mapping) Obstruction Permit Fee Includes administration, recording, review & $ 50.00 Plus $0.051 Lineal Foot inspection Permit Extension Fee Includes administration, recording & review $ 55.00 Delay Penalty For up to three days of non -completion and non- $ 60.00 prior notice before specified date. After three days an additional charge of $10.00 per day will be levied. Degradation Fee Degradation Fee Formula: This formula covers degradation for depreciation caused by intrusion into the right-of- way. The depreciation applies to the original surface of the right-of-way and to the overlays and seal -coats applied to the surface. The formula includes life expectancy schedules for each and has an estimated cost per square yard based on the quality of the right-of-way surface required for different levels of traffic. This formula creates a degradation fee which is determined by the cost per square yard for street, overlay, and seal -coat, multiplied by the depreciation schedule, multiplied by the area of the street patch. Degradation Fee: (cost per square yard for street overlay and seal -coat x depreciation schedule rates) x area of street patch = degradation fee