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ARDEN HILLS CITY COUNCIL—JANUARY 27, 2014 12 Associate Planner Bachler explained that the Planning Commission recommends approval (5-1, Bartel dissenting) of Planning Case 13-017 for a Planned Unit Development Amendment at 1201 County Road E based on the findings of fact and the submitted plans in the January 27, 2014, Report to the City Council, as amended by the following twenty-two (22) conditions: 1. The project shall be completed in accordance with the submitted plans as amended by the conditions of approval. Any significant changes to these plans, as determined by the City Planner, shall require review and approval by the Planning Commission and City Council. 2. An amendment to the Development Agreement shall be prepared by the City Attorney and subject to City Council approval. The document shall be executed prior to the issuance of a grading and erosion control permit. 3. The applicant shall obtain a building permit within one year of the PUD Amendment approval or the approval shall expire unless extended by the City Council prior to the approval's expiration date. Extension requests must be submitted in writing to the City at least 45 days prior to the expiration date. 4. The applicant shall submit a financial surety in the amount of 125 percent of the estimated costs of site improvements including grading, utilities, and paving, prior to the issuance of a grading and erosion control permit. The financial surety shall be in the form of a letter of credit issued by a FDIC-insured Minnesota bank, and be in a form acceptable to the City. The purpose of the letter of credit is to ensure that site improvements are completed in the event that the developer defaults on the Development Agreement. 5. The applicant shall submit a cash escrow in the amount of 25 percent of the estimated costs of site improvements including grading, utilities, and paving, prior to the issuance of a grading and erosion control permit. The escrow will be used for City costs related to review, approval, and inspection of site improvements or any costs incurred by the City in the event of a developer default. 6. The applicant shall submit a financial surety in the amount of 125 percent of the estimated costs of landscaping prior to the issuance of a grading and erosion control permit. The financial surety shall be in the form of a letter of credit issued by a FDIC-insured Minnesota bank. The purpose of the letter of credit is to ensure that landscaping is completed in the event that the developer defaults on the Development Agreement. The City will hold the letter of credit for two years after the installation of landscaping. The letter of credit should not expire during the two-year period. 7. The applicant shall submit a cash escrow in the amount of 25 percent of the estimated costs of landscaping prior to the issuance of a grading and erosion control permit. The escrow will be held by the City for two years after installation of landscaping and used for City costs related to review, approval, and inspection of landscaping, or developer default. _ 8. The applicant shall complete a sidewalk segment along the north side of County Road E from Lexington Avenue to the easterly driveway into 1201 County Road E. The City is currently holding $50,000 in escrow from the property owner for the completion of sidewalk improvements by the City along the entire length of the 1201 County Road E property. The City will return a portion of this escrow to the applicant based on a calculation of the estimated cost for the City to complete the