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Otter Crossing South <br />Development Agreement <br />May 27, 2025 <br />iii. City Engineering and Legal <br />iv. Street lighting installation (by utility company, developer to initiate) <br />v. Boulevard tree planting <br />vi. Street, storm sewer and pond maintenance <br />vii. Property Taxes. Should the recording of the Final Plat occur after July 1st <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 />4.08 units x $2,600 per acre (CII) _ $10,608 <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 />Not Applicable <br />e. Trunk Water Connection Fees <br />Not Applicable <br />f. Surface Water Management Area Charges <br />The City established a trunk area charge to uniformly distribute the costs of <br />public trunk surface water infrastructure and water quality improvements. The <br />Surface Water Management Charge shall be based on developable acreage, in <br />page 7 <br />