Laserfiche WebLink
automatically extended for additional periods of one <br />year from present or future expiration dates unless <br />thirty (30) days prior to such the City Clerk or <br />Administrator is notified in writing by certified mail <br />that the Letter of Credit will not be renewed. <br />b) Reduction of Escrow Guarantee. <br />(1) The Developer may request reduction of the Letter of <br />Credit, or cash deposit based on prepayment or the <br />value of the completed improvements at the time of <br />the requested reduction. Prior to the final acceptance <br />of the Developer Improvements the City shall <br />require a Performance Bond or Cash Escrow to cover <br />the one -year warranty provisions of the agreement. <br />The amount shall be determined by the City <br />Engineer. <br />III. CITY IMPROVEMENTS <br />A. Trunk Utility Area and Unit Charges. The City has established a Permanent <br />Improvement Revolving Fund to uniformly distribute the cost of public <br />utility infrastructure, including but not limited to lift stations, force mains, <br />trunk lines, wells, water towers, , jacked or bored highway crossings etc. <br />1. Trunk Area Charges. In accordance with City policy, the Developer <br />herewith pays the following area charges based on net upland area: <br />Sanitary Sewer: 28.1 Acres @ $2,270 per acre <br />$63,787 <br />Water <br />$68,030 <br />Surface Water <br />Management <br />$91,802 <br />$223,619 <br />28.1 Acres @ $2,421 per acre <br />28.1 Acres @ $.075 per sq. ft. <br />Total = <br />Any credit to the above area charges for trunk utility oversizing or <br />overdepth costs associated with this development are shown on <br />Attachment A <br />2. Trunk Utility Unit Charges. Trunk sanitary sewer and watermain <br />unit charges shall be based on the Metropolitan Council Environmental <br />