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_____________________________________________________________________________________________ City of Arden Hills Planning Commission Meeting for May 3, 2017 P:\Planning\Planning Cases\2017\PC 17-011 - 3930 Northwoods Drive - Master and Final PUD\Memos_Reports_17-011 Page 10 of 11 3. A Master PUD and Final PUD Development Agreement shall be prepared by the City Attorney and subject to City Council approval. The Agreement shall be executed prior to the issuance of any development permits. 4. The Developer 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 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. 5. The Developer 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 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. 6. The Developer shall submit a financial surety in the amount of 125 percent of the estimated costs of landscaping 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. 7. The Developer shall submit a cash escrow in the amount of 25 percent of the estimated costs of landscaping prior to the issuance of any development permits. 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 Developer shall provide the City with a copy of the Rice Creek Watershed District permit for the project prior to the issuance of any development permits. 9. Final grading, drainage, utility, and site plans shall be subject to approval by the City Engineer, Building Official, City Planner, and Fire Marshall prior to the issuance of a Grading and Erosion Control Permit or other development permits. 10. The Developer shall provide “No Parking” signs for the area designated for fire truck turn around on the northeast side of the building. Proposed Motion Language 1. Recommend Approval with Conditions: Motion to recommend approval of Planning Case 17-011 for a Master and Final PUD at 3930 and 3928 Northwoods Drive, based on the findings of fact and submitted plans, as amended by the ten (10) conditions in the May 3 , 2017, Report to the Planning Commission.