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City of Arden Hills Planning Commission Meeting for May 3, 2017 P:\Planning\Planning Cases\2017\PC 17-010 - 3246 New Brighton Road - Preliminary Plat & Variance\Memos_Reports_17-010\PC Report_(5- 3-17)_17-010.docx Page 10 of 11 5. The development agreement shall be prepared by the City Attorney and subject to City Council approval. The development agreement shall be executed prior to execution of the Final Plat. 6. The Developer shall submit a park dedication, subject to the approval of the City Council, equal to $26,000 (four (4) lots times $6,500 per lot). The City shall use the park dedication to expand the City’s parks, trails, and recreation system. 7. The Developer shall submit a financial surety in the amount of 125 percent of the estimated costs of site improvements including grading, utilities, stormwater filtration systems, and driveway openings, prior to the issuance of any development permits. The financial surety shall be in the form of a letter of credit issued by a FDIC-insured 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. 8. The Developer shall submit a cash escrow in the amount of 25 percent of the estimated costs of site improvements including grading, utilities, stormwater filtration systems, and driveway openings, prior to the issuance of any development permits. 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. 9. The Developer shall submit a financial surety in the amount of 125 percent of the estimated costs of the materials and installation for any tree replacement requirements prior to the issuance of any development permits. The financial surety shall be in the form of a letter of credit issued by a FDIC-insured 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. 10. The proposed project may require permits, including, but not limited to, MPCA-NPDES, Rice Creek Watershed District, Minnesota Department of Health, MPCA- Sanitary Sewer Extension, Ramsey County and City Right of Way, and City Grading and Erosion Control permits. Copies of all issued permits shall be provided to the City prior to the issuance of any building permits. 11. The final plans shall be subject to approval by the Fire Marshal prior to the issuance of a building permit. 12. The final grading, drainage, and utility plans shall be subject to approval by the City Engineer prior to the commencement of any construction on the site. 13. Upon completion of grading and utility work on the site, a grading as-built and utility as- built shall be provided to the City for review. 14. Sanitary sewer and water shall be accepted by the City and ready for hookup prior to the issuance of any building permits. 15. The application shall be required to meet the requirements as outlined in the memo from the City Engineer dated 4/25/17. 16. All landscaping materials shall be put in place as the approved grading plan is completed with the exception of the required front yard trees, which shall be the responsibility of the applicant to install at the time each house is constructed.