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3. A Master PUD and Final PUD Development Agreement shall be prepared by the City <br /> Attorney and subject to City Council approval. The Agreement shall be executed prior to <br /> the issuance of any development permits. <br /> 4. The Developer shall submit a financial surety in the amount of 125 percent of the <br /> estimated costs of site improvements including grading, utilities, and paving, prior to the <br /> issuance of any development permits. The financial surety shall be in the form of a letter <br /> of credit issued by a FDIC-insured bank, and be in a form acceptable to the City. The <br /> purpose of the letter of credit is to ensure that site improvements are completed in the <br /> event that the developer defaults on the Development Agreement. <br /> 5. The Developer shall submit a cash escrow in the amount of 25 percent of the estimated <br /> costs of site improvements including grading, utilities, and paving, prior to the issuance <br /> of any development permits. The escrow will be used for City costs related to review, <br /> approval, and inspection of site improvements or any costs incurred by the City in the <br /> event of a developer default. <br /> 6. The Developer shall submit a financial surety in the amount of 125 percent of the <br /> estimated costs of landscaping prior to the issuance of any development permits. The <br /> financial surety shall be in the form of a letter of credit issued by a FDIC-insured bank. <br /> The purpose of the letter of credit is to ensure that landscaping is completed in the event <br /> that the developer defaults on the Development Agreement. The City will hold the letter <br /> of credit for two years after the installation of landscaping. The letter of credit should not <br /> expire during the two-year period. <br /> 7. The Developer shall submit a cash escrow in the amount of 25 percent of the estimated <br /> costs of landscaping prior to the issuance of any development permits. The escrow will <br /> be held by the City for two years after installation of landscaping and used for City costs <br /> related to review, approval, and inspection of landscaping, or developer default. <br /> 8. The Developer shall provide the City with a copy of the Rice Creek Watershed District <br /> permit for the project prior to the issuance of any development permits. <br /> 9. Final grading, drainage, utility, and site plans shall be subject to approval by the City <br /> Engineer, Building Official, City Planner, and Fire Marshall prior to the issuance of a <br /> Grading and Erosion Control Permit or other development permits. <br /> 10. The Developer shall provide "No Parking" signs for the area designated for fire truck turn <br /> around on the northeast side of the building. <br /> Proposed Motion Language <br /> 1. Recommend Approval with Conditions: Motion to recommend approval of Planning Case <br /> 17-011 for a Master and Final PUD at 3930 and 3928 Northwoods Drive, based on the <br /> findings of fact and submitted plans, as amended by the ten (10) conditions in the May 3, <br /> 2017, Report to the Planning Commission. <br /> City of Arden Hills <br /> Planning Commission Meeting for May 3,2017 <br /> P:WlanninglPlanning Cases 1201 71PC 17-011-3930 Northwoods Drive-Master and Final <br /> PUDIMemos Reports 17-011 <br /> Page 10 of 11 <br />