July 5, 2006 CCP - Laserfiche WebLink

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Landscaping $ 113,000 Storm Sewer $ 143,780 Street Improvements $ 243,750 Waste Water Treatment System/Drain Fields $ 261,800 Sanitary Sewer Collection $ 197,000 Street Signs $ 500 Trails $ 43,500 Water Mains $160,535 Subtotal $1,163,865 Total Security Required (125% of Improvements) $1,454,831 4.03 Improvement Security. Prior to the City's endorsement of approval on the final plat, the Developer shall deposit security with the City Administrator in an amount equal to 125% of the City Engineer's estimate of the cost of constructing the Developer secured improvements which have not been completed and accepted by the City prior to final plat approval. The security may be in the form of a cash escrow fund, a performance bond, or a letter of credit. The form of security shall be approved by the City Attorney. 4.04 Reduction of Security. Upon completion of required improvements for the Property and acceptance by the City, the City Council shall reduce the amount of security for the completed improvements provided that in no case shalt the total remaining security be equal to less than 125% of the estimated costs of the incomplete improvements. 4.05 Administrative Fees. Developer agrees to pay an administrative fee to the City in an amount equal to 2.5% of the Developer's secured improvements. The administrative fee for this project equals $29,096. 4.06 Utility Company Improvements. The utility improvements include underground gas, electric, and telephone service as installed by the appropriate utility company at the direction of the Developer. The Developer shall arrange for the installation of underground gas, electric, telephone and cable television before the final lift is started. Utility improvements shall be completed by the 31st day of July, 2007. 4.07 Recording Requirements. Prior to the conveyance of any of the lots in Hidden Meadows of Lake Elmo 2nd Addition, and except as hereinafter provided, prior to the issuance of any development permits, the Developer shall provide the City with evidence that the following documents have been recorded.