Laserfiche WebLink
A. Enter into a developer's agreement whereby developer shall undertake <br />performance of the obligations imposed by this Chapter, or by Council <br />condition, and containing such other terms and provisions and in such form as <br />shall be acceptable to the City Attorney, including, but not limited to, <br />provisions for default including fines and penalties. <br />B. Submit a bond, letter of credit or cash deposit ("security") which guarantees <br />completion of all improvements within the times specified by the City Engineer <br />and in accordance with the terms of Section 418.18 Subdivisions 1 through 9. <br />The amount of the security shall be 125 % of the estimated construction cost of <br />said improvements, subject to reduction thereof to an amount equal to 25 % of <br />the cost of the improvements after acceptance thereof by the City Engineer, and <br />receipt of asbuilt drawings. The security shall be in such form and contain such <br />other provisions and terms as may be required by the City Engineer and City <br />Attorney. the developer's registered engineer shall make and submit for <br />approval to the City Engineer a written estimate of the costs of the <br />improvements. <br />Subd. 10. With the approval of the Council, and instead of the obligations imposed <br />by Subdivisions 1 through 9 above, developer may enter into an agreement signed <br />by 100% of all owners of the land to be developed, requesting the City to install <br />some or all of the improvements, request all of the costs be assessed against the <br />property, and waiving the rights to appeal from the levied special assessments. <br />Upon approval by the Council, the City may cause said improvements to be made <br />and special assessments for all costs of said improvements to be levied on the land, <br />except any land that is or shall be dedicated to the public. Such special assessment <br />shall be payable over a term of five (5) years unless otherwise authorized by the <br />Council. Prior to the award of any contract by the City for the construction of any <br />improvement, developer shall have entered into a contract for rough grading of <br />streets included in the improvement to a finished subgrade elevation, and including <br />such other terms as required by Council. Developer's obligation with respect to <br />the rough grading work shall be secured by a bond, letter of credit or such deposit <br />which shall guarantee completion, and payment for all labor and materials expended <br />in connection with the rough grading. The amount of the security shall be 125 % of <br />the cost of such rough grading and shall be in such form and contain such further <br />terms as may be required by the City Engineer and City Attorney. <br />Subd. 11 No final plat shall be approved by the Council without first receiving a <br />report signed by the City Attorney certifying that the agreements and documents <br />required under this Section meet the requirements of the City. The City Treasurer <br />shall also certify that all fees required to be paid to the City in connection with the <br />plat have been paid.