10/01/2007 Council Packet - Laserfiche WebLink

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F. Assessment rolls shall be submitted to the County Auditor and semi - annual payments shall be payable to the City Clerk on April 15 and September 15 of each year. The City shall obtain an assessment status report from the County Auditor on April 15 and September 15 of each year. G. The City reserves the right to withhold building permits for violation of any terms or conditions of this policy or the development agreement. H. The City reserves the right to limit the number of building permits issued prior to completion and acceptance of the improvements by the City. 5. DEVELOPER - FINANCED IMPROVEMENTS A development agreement shall be executed which shall include the following conditions: A. Guaranteed completion of the improvements according to a schedule to be determined by the City Engineer. B. Payment by the developer to the City for preparation of review of any feasibility report, plans and specifications and for inspection by the City Engineer. These fees will be estimated by the City Engineer. Said estimate shall be paid to the City prior to final approval by the City Council. C. Assurance that the developer will conform with current testing requirements and quality control procedures of the City of Lino Lakes and provide documentation from a qualified testing laboratory and/or registered professional engineer that the project has been constructed in accordance with the requirements of the approved plans and specifications. D. A cash escrow or letter of credit shall be posted to guarantee installation of such improvements. It shall be in an amount equal to 150% of the City Engineer's estimated project cost. The project costs shall also include one percent (1 %) of the construction costs for aerial photo cost recovery, as required by Resolution 87 -76. The project costs shall include all previously unpaid trunk sewer and/or water area charges and unit charges. E. If the required improvements are not completed within the time period in the development agreement, the City may proceed to complete the improvements by contract or force account and obtain reimbursement of its costs from the posted security deposit. If the funds available are not sufficient to complete the required improvements, the additional cost shall be assessed against the development in equal annual installments over a period of two years. F. Should the developer elect to install a portion of the required improvements and petition the City for the remainder, the requirements of this Policy shall apply to those respective portions of the improvements. G. The City reserves the right to withhold building permits for violation of any terms or conditions of this policy or the development agreement.