2022.01.03 CC Packet - Laserfiche WebLink

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Victor Land Holdings, LLC 15 EXHIBIT _C ESCROWS, FEES AND CHARGES a) Escrow for City Costs and Fees. Developer shall deposit sufficient escrow with the City as outlined in Section A. 1. The required beginning balance in the account is calculated at $9,464. This sum is calculated to be four percent (4%) of the estimate of the required improvements to be installed to serve the development (.04 X $236,600), plus $5,000 which is the minimum balance required in the account, which has been satisfied. b) Cash Escrow or Letter of Credit. A cash escrow or letter of credit is not required with this project. c) Storm Water Trunk Fee. The stormwater trunk fee was paid with Roy Molitor 3rd Addition. All stormwater trunk fees have been paid for the plat. d) Storm Water Ponding Fee. The storm water ponding requirement has been met by the Developer within the plat. No storm water ponding fee will be applied. e) Snow Plowing. This fee is not required since the 140th Street construction project will be a public improvement project completed by the City. f) Pavement Maintenance Fee. This fee is not required since the 140th Street construction project will be a public improvement project completed by the City. g) Park Dedication. Park Dedication for the plat was satisfied as part of a previous development approval, and no additional park dedication is required. h) Cul-de-sac Escrow. N/A i) Escrow for Street Signage. Developer shall deposit $500.00 into an escrow account with the City. This amount represents an estimated cost to install 1 sign within the development at an estimated cost of $500 per sign. The final amount shall be based on actual costs. j) Sanitary Sewer Trunk Fee. The developer shall pay the City a sanitary sewer trunk fee at $1,632 per SAC unit as determined by the Met Council. This will be paid with the issuance of a building permit.