HomeMy WebLinkAbout2006-047 Council Resolution•
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Council Member sc_ introduced the following resolution and moved its
adoption:
CITY OF LINO LAKES
RESOLUTION NO. 06-47
RESOLUTION APPROVING DEVELOPMENT CONTRACT, MILLER'S
CROSSROADS 3RD
WHEREAS, the City Council approved a Preliminary Plat for Miller's Crossroads on
September 2003 with Resolution 03 -142, and;
WHEREAS, the City Council approved the Final Plat for Miller's Crossroads 1st Addition
on February 23, 2004, and;
WHEREAS, the City Council approved the Final Plat for Miller's Crossroads 2nd Addition
on January 24, 2005, and;
WHEREAS, the City's subdivision ordinance and conditions of approval require the
execution of a development contract, between the Developer and the City of Lino
Lakes, prior to commencement of site construction activities and final plat approval to
insure satisfactory completion of public improvements;
NOW, THEREFORE, BE IT RESOLVED THAT the Lino Lakes City Council approves
the Development Contract with Bruggeman Properties, LLC for Miller's Crossroads 3rd
Addition and authorizes the Mayor and City Clerk to execute such agreement on behalf
of the City.
Bartell, Cit C erk
Join Ber son, Mayor
Adopted by the Lino Lakes City Council this 27th day of March, 2006.
The motion for the adoption of the foregoing resolution was duly seconded by Council
Member 3±o[fz_ and upon vote being taken thereon, the following voted in favor
thereof:
@arkon , s+o[+z,'Ma or j3er5esoo
The following voted against same:
136 nett
Whereupon said resolution was declared duly passed and adopted.
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AGENDA ITEM 6Ai
STAFF ORIGINATOR: James E. Studenski, City Engineer
COUNCIL MEETING DATE: March 27, 2006
TOPIC: Resolution No. 06 — 47, Approving Development Contract, Millers
Crossroads 3rd Addition
Vote Required: Simple Majority
BACKGROUND:
The City Council approved a Preliminary Plat for Miller's Crossroads on
September 22, 2003. The Final Plat for Miller's Crossroads 1st Addition was
approved by the City Council on February 23, 2004 and the Final Plat for Miller's
Crossroads 2nd Addition was approved by the City Council on January 24, 2005.
Miller's Crossroads 3rd Addition provides for the construction of 32 residential
units on a 2.7 Acre parcel of property near the intersection of Birch Street and
Hodgson Road.
In accordance with the preliminary plat approval and City policy, staff has
prepared a Development Contract. The contract provides for the following:
1. A Letter of Credit submitted by the developer for the development
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improvement costs is not required for this development, since the
improvements were installed during the previous phase.
2. Submittal by the developer of a Letter of Credit in the amount of
$40,000.00 representing 35 percent of the City improvement costs to
insure the payment of assessments for this project.
3. Deposit of a cash escrow in the amount of $95,000.00 to reimburse the
City for costs incurred by the City related to the development and
improvements of the site.
Bruggeman Properties LLC, has reviewed the contract and are aware of the
conditions set forth.
OPTIONS:
1. Return to staff for further review.
2. Adopt Resolution Number 06 — 47, approving Development Contract for
Millers Crossroads 3rd Addition.
RECOMMENDATION:
Option No. 2 - Staff recommends that Resolution Number 06 — 47 be approved.
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DEVELOPMENT CONTRACT
Millers Crossroads 3" Addition
THIS AGREEMENT made this 27th day of March 2006, is by and between the City
of Lino Lakes, whose address is 600 Town Center Parkway, Lino Lakes, Minnesota, 55014, a
municipal corporation organized under the laws of the State of Minnesota, hereinafter referred to as
the "City ", and Bruggeman Properties, LLC whose address is 3564 Rollingview Drive, White Bear
Lake, Minnesota, 55110, hereinafter referred to as the "Developer ".
WHEREAS, the Developer has received preliminary plat approval from the City
Council for a plat of land within the corporate limits of the City known as Millers Crossroads 3rd
Addition, hereinafter called "Subdivision ", said land is legally described to -wit
Outlot C, MILLERS CROSSROADS, and Outlot J MILLERS CROSSROADS 2ND ADDITION
according to the recorded plats on file and of record in the Office of the County Recorders
Office, Anoka County, Minnesota.
WHEREAS, the Developer requested that the City construct and finance certain
improvements to service the subdivision; and
WHEREAS, the Developer is to be responsible for the installation and financing of
certain private improvements within the subdivision; and
WHEREAS, Minnesota Statute 429 provides a method for assessing the cost of City
installed improvements to the benefited property, and
WHEREAS, the City Subdivision Ordinance and Minnesota Statute 462.358
authorize the City to enter into a performance contract secured by cash escrow or other security to
guarantee completion and payment of such improvements following final approval and recording of
final plat; and
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Development Contract
Millers Crossroads 3rd Addition
March 27, 2006
NOW, THEREFORE, in consideration of the mutual promises of the parties made
herein,
IT IS AGREED BY AND BETWEEN THE PARTIES HERETO: that the
I. DESIGNATION OF IMPROVEMENTS
A. Improvements to be installed at the Developer's expense by the Developer as
hereinafter provided are hereinafter referred to as "Developer Improvements ".
B. Improvements to be installed by the City and financed by the Developer are
hereinafter referred to as "City Improvements ".
II. DEVELOPER'S IMPROVEMENTS
A. The Developer's Engineer shall prepare, at the Developer's expense, a grading plan,
preliminary street and utility plan, a surface water management plan. The
Developer shall secure a contractor to install these improvements; said contractor
shall be approved by the City at its ABSOLUTE discretion. All Developer
improvements shall require City inspection and approval and, where appropriate, the
approval of any other governmental agency having jurisdiction. The Developer will
construct and install at Developer's expense the following improvements according
to the following terms and conditions:
1. Grading Plan
a) A final site grading plan, including certified wetland delineation,
with maximum two -foot contours and cross sections as necessary
was submitted and approved by the City with the first phase of the
subdivision.
2. Erosion Control Plan
a) The Developer shall submit an erosion control plan, detailing all
erosion control measures to be implemented during construction.
Said plan shall be approved by the City prior to the commencement
of site grading or construction.
b) The Developer shall submit a Turf Establishment Plan which details
topsoil placement, seeding, sodding, mulching, fertilizing and
watering. Said plan shall be approved by the City prior to the
commencement of site grading or construction.
page 2
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Development Contract
Millers Crossroads 3`1 Addition
March 27, 2006
3. Tree Preservation Plan
a) Developer will provide a tree preservation plan prior to any site
grading which shall be in accordance with the City Tree Preservation
Policy. Developer shall provide a cash escrow as security, in the
amount specified in Attachment B, to insure implementation of the
Tree Preservation Plan. Site activities shall not commence until
review of the plan and site has been completed by the City Forester.
b) The Developer shall remove, dispose of, or treat all dead and
diseased trees in accordance with the City Forester's
recommendation before building permits will be issued.
4. Grading and Erosion Control Construction & Maintenance
a) Prior to the commencement of site grading and erosion control, the
Developer shall complete items II.A.l, II.A.2, and II.A.3 as listed
above.
b) The Developer shall grade the site to within 0.2 foot of the grades
shown on the approved Grading plan. No deviations will be allowed
unless a revised plan is submitted and approved by the City and all
other regulatory agencies.
c) All development shall conform to the natural limitations presented
by the topography and soil of the subdivision in order to create the
best potential for preventing soil erosion.
d) Erosion and siltation control measures shall be coordinated with the
different stages of development. Appropriate control measures as
required by the City shall be installed prior to development when
necessary to control erosion.
Land shall be developed in increments of workable size such that
adequate erosion and siltation controls can be provided as
construction progresses. The smallest practical area of land shall be
exposed at any one period of time.
f) Where the topsoil is removed, sufficient arable soil shall be set aside
for respreading over the developed area. The topsoil shall be
restored to a depth of at least four (4) inches and shall be of a quality
at least equal to the soil quality prior to development.
g)
The Developer shall install four (4) inches of topsoil on all
boulevards and seed or sod as approved by the City. The Developer
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Development Contract
Millers Crossroads 3`d Addition
March 27, 2006
• shall make all necessary adjustments to the curb stops to bring them
flush with the topsoil prior to occupancy.
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h) All disturbed areas shall be seeded.
i) The front 50 feet of the lots, the street right -of -way, storm water
storage ponds, and surface water drainage ways shall be graded prior
to commencement of utility construction.
j)
Drainage swales, ditches, storm water storage ponds and other high
risk erosion areas shall be protected from erosion.
k) All remaining grading must be completed prior to issuance of
building permits.
1) Protect streets from erosion deposits. This should include a
combination of roadside silt fences, roadside sod strips, catch basin
rock bale inlet protection, rock construction entrances, straw mulch,
and/or street sweeping.
m) The developer' s engineer shall certify, in writing with an as -built
survey, that all grading complies with the grading plan prior to
issuance of building permits.
5. Final street grading, subbase, gravel base, bituminous binder course, and
concrete curb and gutter.
6. Storm sewers when determined to be necessary by the City Engineer,
including all necessary laterals, catch basins, inlets and other appurtenances.
7. Sanitary sewer, laterals or extensions, including all necessary building
services and other appurtenances.
8. Water, laterals or extensions, including all necessary building services,
hydrants, valves and other appurtenances.
9. The Developer shall place iron monuments at all lot and block corners and at
all other angle points on boundary lines. Iron monuments shall be placed
after all street and lawn grading has been completed in order to preserve the
lot markers for future property owners. Lot corner irons on the back
property line shall be installed so that the top of the iron corresponds to the
finished ground elevation in accordance with the approved grading plan -
guard stakes shall be appropriately installed to mark these irons.
10. The Developer agrees to maintain, at all times before acceptance of the
streets by the City, an access road suitable for use by emergency, police and
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Development Contract
Millers Crossroads aid Addition
March 27, 2006
fire department equipment. The adequacy of such road shall be the sole
determination of the City. Furthermore, such access road shall be located no
more than 150 feet from any structure built within the Subdivision.
11. The Developer shall promptly clear dirt and debris, within public right -of-
ways, and drainage and utility easements, resulting from construction by
the Developer, its purchasers, builders and contractors within five (5) days
after notification by the City. The Developer or its assigns shall be
responsible for all necessary street and storm sewer maintenance including
street sweeping, storm sewer cleaning, ditch cleaning and pond dredging,
resulting from the accumulation of said dirt and debris, until all
Certificates of Occupancy are issued. Warning signs shall be placed when
hazards develop in streets to prevent the public from traveling on same and
directing attention to detours. If and when the streets become impassable,
such streets shall be barricaded and closed. The Developer shall maintain a
smooth, hard driving surface and adequate drainage on all temporary streets.
12. Street Lighting:
a) Residential street lighting shall be owned by the City. Such street
lighting system shall be installed, operated, and maintained by the
electric utility company. City and electric utility company may enter
into a contractual agreement on the rate and maintenance of the
street lighting system. City shall use escrow funds to pay for street
light installation.
b) It shall be the responsibility of the Developer to pay for street
lighting operation charges for the initial 15 months of operation of
the system.
13. The Developer shall dedicate to the City, prior to approval of the final plat,
at no cost to the City, all permanent or temporary easements necessary for
the construction and installation of the Developer Improvements. All such
easements required by the City shall be in writing, in recordable form,
containing such terms and conditions, as the City shall determine.
14. Warning signs shall be placed when hazards develop in streets to prevent the
public from traveling on same and directing attention to detours. If and
when the streets become impassable, such streets shall be barricaded and
closed. The developer shall maintain a smooth, hard driving surface and
adequate drainage on all temporary streets.
15. The Developer shall be responsible for securing all site grading and
development approvals and permits from all appropriate Federal, State,
Regional and Local jurisdictions prior to the commencement of site grading
page 5
Development Contract
Millers Crossroads 3rd Addition
March 27, 2006
• or construction and prior to the City awarding construction contracts for
public utilities.
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16. Cost of Developer's Improvements and description are as shown on
Attachment A.
17. Construction of Developer's Improvements:
a) The construction, installation, materials and equipment shall be in
accordance with the plans and specifications approved by the City.
b) All of the work shall be under and subject to the inspection and
approval of the City and, where appropriate, any other governmental
agency having jurisdiction.
c) Prior to the acceptance of Developer Improvements by the City, the
Developer shall obtain final plat approval and record the final plat
which will dedicate all permanent easements necessary for the
construction and installation of the Developer's and City's
Improvements as determined by the City.
d) All Construction debris and trash shall be properly disposed of at the
developers expense and in a timely manner as determined by the
City.
18. The Developer must obtain all necessary approvals from Anoka County.
The Developer is responsible for acquiring any necessary right -of -way,
temporary easements, or permanent easements for the construction.
19. The Developer shall construct and pay for all improvements as described in
the landscaping plan.
20. Guarantee
a) Faithful Performance of Construction Contracts and Letters of Credit
(1)
The Developer will fully and faithfully comply with all terms
and conditions of any and all contracts entered into by the
Developer for the installation and construction of all
Developer's Improvements and hereby guarantees the
workmanship and materials for a period of one year
following the City's final acceptance of the Developer's
Improvements. Concurrently with the execution hereof by
the Developer, the Developer will furnish to, and at all times
thereafter maintain with the City, a cash deposit, certified
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Development Contract
Millers Crossroads 3rd Addition
March 27, 2006
check, or Irrevocable Letter of Credit, based on one hundred
fifty (150 %) percent of the total estimated cost of
Developer's Improvements. An Irrevocable Letter of Credit
shall be for the exclusive use and benefit of the City of Lino
Lakes and shall state thereon that the same is issued to
guarantee and assure performance by the Developer of all the
terms and conditions of this Development Contract and
construction of all required improvements in accordance with
the ordinances and specifications of the City. In the event of
a default by Developer and after thirty (30) days prior written
notice to Developer, the City reserves the right to draw, in
whole or in part, on any portion of the Irrevocable Letter of
Credit for the purpose of performing the terms and
conditions of this contract. Until Developer has completed
the improvements required herein, the Irrevocable Letter of
Credit shall be automatically extended for additional periods
of one year from present or future expiration dates unless
thirty (30) days prior to such the City Clerk or Administrator
is notified in writing by certified mail that the Letter of
Credit will not be renewed.
b) Reduction of Escrow Guarantee.
(1) The Developer may request reduction of the Letter of Credit,
or cash deposit based on prepayment or the value of the
completed improvements at the time of the requested
reduction. Prior to the final acceptance of the Developer's
Improvements the City shall require a Performance Bond or
Cash Escrow to cover the warranty provisions of the
agreement. The amount shall be determined by the City
Engineer.
III. CITY'S IMPROVEMENTS
A. No new City Improvements.
IV. RECORDING AND RELEASE
A. The Developer agrees that the terms of this Development Contract shall be a
covenant on any and all property included in the Subdivision. The Developer agrees
that the City shall have the right to record a copy of this Development Contract with
the Anoka County Recorder to give notice to future purchasers and owners. This
shall be recorded against the Subdivision described on Pages 1 -4 hereof. City shall
provide to Developer upon payment of all the special assessments levied against a
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Development Contract
Millers Crossroads 3rd Addition
March 27, 2006
• parcel a release of such parcel from the terms and conditions of this Development
Contract subject to provisions contained in this contract.
V. REIMBURSEMENT OF COSTS
A. The Developer agrees to establish a non - interest bearing escrow account with the
City in an amount determined by the City Administrator or his designee for the
payment of all costs incurred by the City related to the development of the plat and
the Developer Improvements including, but not limited to, the following (See
attachment B for Breakdown of costs):
1. Plat Review Fee
2. Planner Review Fee
3. Administration - 3% Construction Cost
4. Engineering
a) Administration
5. Legal - Plat Review
6. Publications
7. Park Dedication Fee
8. Tree Preservation Policy
9. Street Lighting - Install /Operate
10. Traffic Signing Improvements
11. Boulevard Tree Planting
12. Street - Storm Sewer - Pond Maintenance
13. Sealcoating Fund
14. Aerial Photo Recovery Cost
B. If the above escrow amounts are insufficient, the developer shall make such
additional deposits as required by the City. The City shall have a right to reimburse
itself from the Escrow.
VI. BUILDING PERMITS
A. The Developer agrees that building permits may be issued upon approval of the
Final Plat by the City Council at which time all required Financial Security shall be
in place with the City. The Developer further agrees that City Sewer, Water, Storm
Sewer, and Bituminous Base Construction of the Streets, temporary street signs, gas,
electric, and telephone will be completed prior to the issuance of building permits
except for as provided in VI. C.
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Development Contract
Millers Crossroads 3rd Addition
March 27, 2006
• B. The Developer has submitted an as -built survey certifying that all the grading complies
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with the grading plan prior to issuance of building permits.
C. Each lot must comply with erosion control measures to prevent any material from
leaving the lot. The City of Lino Lakes will not perform any requested inspections on
the lot until it complies to the erosion control requirements.
D. Each lot must have a City approved Certificate of Grading showing the as -built
survey prior to an issuance of a Certificate of Occupancy. It shall be the responsibility
of the Developer, its purchasers, builders or contractors to ensure compliance with the
grading plan.
VII. HOURS OF CONSTRUCTION ACTIVITY
A. All construction activity shall be limited to the hours as follows:
Monday through Friday 7:00 a.m. to 7:00 p.m.
Saturday 9:00 a.m. to 5:00 p.m.
Sunday and Holidays No working hours allowed
VIII. OWNERSHIP OF IMPROVEMENTS
A. Upon completion of the work and construction required by this contract and
acceptance by the City, the improvements lying within the public easements shall
become City property without further notice or action.
IX. INSURANCE
A. Developer or all its subcontractors shall take out and maintain until one (1) year
after the City has accepted the private improvements, public liability and property
damage insurance covering personal injury, including death, and claims for property
damage which may arise out of the Developer's work or the work of his
subcontractors or by one directly or indirectly employed by any of them. Limits for
bodily injury and death shall be not less than Five Hundred Thousand and no /100
($500,000.00) Dollars for one person and One Million and no /100 ($1,000,000.00)
Dollars for each occurrence; limits for property damage shall be not less then Two
Hundred Thousand and no /100 ($200,000.00) Dollars for each occurrence; or a
combination single limit policy of One Million and no /100 ($1,000,000.00) Dollars
or more. The City, its employees, its agents and assigns shall be named as an
additional insured on the policy, and the Developer or all its subcontractors shall file
with the City a certificate evidencing coverage prior to the City signing the plat.
The certificate shall provide that the City must be given ten (10) days advance
written notice of the cancellation of the insurance. The certificate may not contain
any disclaimer for failure to give the required notice.
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Development Contract
Millers Crossroads 3rd Addition
March 27, 2006
• X. REIMBURSEMENT OF COSTS FOR DEFENSE
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A. The Developer agrees to reimburse the City for all costs incurred by the City in
defense of enforcement of this contract, or any portion thereof, including court costs
and reasonable engineering and attorneys' fees if the City prevails in such action.
XI. VALIDITY
A. If a portion, section, subsection, sentence, clause, paragraph or phrase in this
contract is for any reason held to be invalid by a court of competent jurisdiction,
such decision shall not affect or void any of the other provisions of the Development
Contract.
XII. GENERAL
A. Binding Effect
1. The terms and provisions hereof shall be binding upon and insure to the
benefit of the heirs, representatives, successors and assigns of the parties
hereto and shall be binding upon all future owners of all or any part of the
Subdivision and shall be deemed covenants running with the land.
Notwithstanding the foregoing, individual homeowners shall not be
obligated to perform Developer's obligations hereunder.
B. Notices
1. Whenever in this agreement it shall be required or permitted that notice or
demand be given or served by either party to this agreement to or on the
other party, such notice or demand shall be delivered personally or mailed by
United States mail to the addresses hereinbefore set forth on Page 1 by
certified mail (return receipt requested). Such notice or demand shall be
deemed timely given when delivered personally or when deposited in the
mail in accordance with the above. The addresses of the parties hereto are as
set forth on Page 1 until changed by notice given as above.
C. Final Plat Approval
The City agrees to give final approval to the plat of the Subdivision upon execution
and delivery of this agreement and all required petitions, bonds, security, and
documents including the following:
1. Signage for the commercial site shall comply with the Miller's Crossroads
Sign Plan, received August 28, 2003, including EIFS sign band. The
location of the commercial monument sign shall be reviewed with a sign
permit application. All signs require a sign permit. The residential
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Development Contract
Millers Crossroads 3rd Addition
March 27, 2006
Illassociation by laws must address ownership and maintenance of the
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community monument signs and sign landscaping.
2. Exterior lighting fixture must be 90 degree cutoff fixtures: this shall be
verified prior to City Council review of a final plat.
3. Homeowners association by laws must include a funding mechanism to
ensure that any private recreation facility for which the City granted credit
toward park dedication is maintained as a recreation facility. The by laws
also must address ownership and maintenance of the community monument
signs and landscaping.
4. Right of entry shall be dedicated to Anoka County along Hodgson Road and
Birch Street on the final plat.
XIII. VIOLATIONS/BUILDING PERMITS
A. In the event that Developer violates any of the covenants and agreements contained
in this Development Contract and to be performed by the Developer, the City, at its
option, in addition to the rights and remedies as set out hereunder may refuse to
issue building permits and /or Certificate of Occupancies to any property within the
Subdivision until such time as such default has been corrected to the satisfaction of
the City.
XIV. PARK DEDICATION
Park dedication in an amount of $66,400.00 shall be paid by the Developer to the
City for the 32 units.
XV. PROPERTY TAXES
A. Should the recording of the Final Plat occur after July 1, any and all property taxes
on any public property dedicated as a part of this plat shall be the responsibility of
the Developer. Dollars shall be incorporated into the escrow agreement to cover the
cost of said property taxes.
page 11
Development Contract
Millers Crossroads 3rd Addition
March 27, 2006
• DEVELOPER Bruggeman Properties, LLC CITY OF LINO LAKES
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By
Developer
STATE OF MINNESOTA )
) SS
)
COUNTY OF ANOKA
By
Mayor
ATTEST:
By
Clerk
On this day of , 20_. before me, a Notary Public within and for said County,
personally appeared
(Mayor) and (Clerk), to me known to be respectively the Mayor
and Clerk of the City of Lino Lakes, and who executed the foregoing instrument and acknowledge
that they executed the same on behalf of said City.
STATE OF MINNESOTA )
COUNTY OF ANOKA
) SS
)
Notary public
On this day of , of 20, before me, a Notary Public within and for
said County, personally appeared (Developer), to me known to be the
, of Bruggeman Properties, LLC, a limited liability company under the laws of the State of
Minnesota, and that they executed the foregoing instrument and acknowledged that they/he
executed the same on behalf of said limited liability company.
Notary Public
page 12
ATTACHMENT A
SUMMARY OF IMPROVEMENT COSTS
DEVELOPER INSTALLED IMPROVEMENTS
• PROJECT NAME:
APPLICANT:
Miller's Crossroads - Phase III
Bruggeman Properties
ITEM NECESSARY IMPROVEMENTS
1 SITE GRADING
2 EROSION CONTROL
3 SITE ENGINEERING & SURVEYING
4 LANDSCAPING
5 STREET CONST.
A. Subgrade /Base Course
B. Wear Course
6 STORM SEWER CONST.
A. Trunk
B. Lateral
C. Surface Water Mgmt. Charge (s.f.)
SANITARY SEWER CONST.
A. Trunk Area Charge (ac.)
B. Trunk Credit
C. Trunk Unit Charge (REU)
D. Lateral
8 WATERMAIN CONST.
A. Trunk Area Charge (ac.)
B. Trunk Credit
B. Trunk Unit Charge (REU)
C. Lateral
SUBTOTALS:
NOTE:
•
BUDGET
COST
Estimate
Estimate
Estimate
Estimate
NOTE
e
e
e
e
Estimate e
Estimate e
Estimate e
Estimate e
$0.073 a
$2,520 a
$1,095
Estimate e
$2,690 a
$1,765 a
Estimate e
See Attachment B for security amounts to be posted
a: Cost by City policy
b: Estimated Cost or Budget by City
c: Previously Assessed
d: Cash Requirement per Agreement with Park Board
e: Provided by Developer
f: Estimate by Feasibility Study
NUMBER OF REU's:
ASSESSED AREA (ac.):
DEVELOPER
IMP. (X)
$0
$0
$0
$0
$0
$0
$0
$0
$0
3 -27 -2006
32
2.7
CITY ESCROW
IMP. (Y) AMOUNT (Z)
$8,617
$6,804
$0
$35,040
$7,263
$0
$56,480
$0
$0 $114,204
$0
ATTACHMENT B 3 -27 -2006
CITY FEES
DEVELOPER INSTALLED IMPROVEMENTS
• PROJECT NAME: Miller's Crossroads - Phase III NUMBER OF REU's: 32
APPLICANT: Bruggeman Properties ASSESSED AREA (ac.): 2.7
BUDGET DEVELOPER CITY ESCROW
ITEM NECESSARY IMPROVEMENTS COST NOTE IMP. (X) IMP. (Y) AMOUNT (Z)
1 PLANNING /REVIEW
A. Plat Review Fee $2,500 b $2,500
B. Planner Review Fee $2,500 b $2,500
2 ENGINEERING
A. Plan /Plat/Grading Review $0 b $5,000
B. Preparation of Plans & Specs. $0 b $0
C. Construction Services $0 b $0
D. Construction Staking $0 b $0
E. City Engineering $0 b $5,000
3 ADMINISTRATION
A. Administration Fee 3% of const. a $0
B. Legal $1,000 b $1,000
C. Publications $1,000 b $1,000
4 DEVELOPMENT FEES
A. Park Dedication ** $2075 /REU d $66,400
illB. Sealcoating Fee $0.27/SF a $0
C. Aerial Photo Fee 90 /unit a $2,880
5 BOULEVARD TREE PLANTING $465 /Frontage b $3,720
6 DEVELOPMENT SECURITIES
A. Tree Preservation 95 /unit b $3,040
B. Street Lighting - installation $2500 /Light b $0
C. Street Lighting - operation b $0
D. Traffic Signing b $0
E. Street, St. Swr., Pond Maint. b $1,960
F. Other - Property Tax, FEMA b $0
TOTALS: $0 $0 $95,000
SECURITY AMOUNTS TO BE POSTED Att. A Att. B Total
X = DEV. IMPROVEMENT COSTS X 1.5 (LETTER OF CREDIT) $0 $0 $0
Y = CITY IMPROVEMENT COSTS X 0.35 (LETTER OF CREDIT) $40,000 $0 $40,000
Z = CITY FEE COSTS X 1.0 (CASH ESCROW) $0 $95,000 $95,000
NOTE: a: Cost by City policy
b: Estimated Cost or Budget by City
• c: Previously Assessed
d: Cash Requirement per Agreement with Park Board
e: Provided by Developer
f: Estimate by Feasibility Study