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Milestones Addition <br /> Development Agreement <br /> August 28, 2023 <br /> iv. Street lighting installation (by utility company, developer to initiate}Not <br /> Applicable. <br /> v. Boulevard tree planting. Not Applicable. <br /> vi. Street, storm sewer and pond maintenance <br /> vii. Property Taxes. Should the recording of the Final Plat occur after July 15t, <br /> any and all property taxes on any public property dedicated as a part of <br /> this plat shall be the responsibility of the Developer. <br /> b. If the above escrow amounts are insufficient, the Developer shall make such <br /> additional deposits as required by the City. The City shall have a right to <br /> reimburse itself from the Escrow with suitable documentation supporting the <br /> charges. <br /> 16. Developer Fees. At the time of execution of this Agreement,the Developer shall pay <br /> the following fees related to the development of the Subdivision (See Exhibit B for <br /> breakdown of costs): <br /> a. Park Dedication <br /> The Park Dedication Fee for this site is calculated as follows: <br /> 1.86 Acres X $2,600 per acre = $4,836.00 <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. Not Applicable. <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. Commercial trunk charges are based on a factor of <br /> 2.92 units per acre. <br /> Sanitary Sewer $1,695.00 Per Unit <br /> page 7 <br />