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<br />2021-07-12 Final Version 12 <br />25. PARK DEDICATION. The Developer shall submit a cash contribution in lieu of <br />land dedication. The cash payment shall be determined based on the fair market of 20% of the <br />land that would otherwise be dedicated to the City. The park dedication fee of $212,020 shall be <br />submitted prior to the issuance of a building permit. The cost to construct the public trail system <br />on this site may be deducted from the cash fee. The Developer is responsible for submitting a bid <br />or engineer’s estimate for the cost of the trail, which must be approved by the City Engineer. <br />26. LANDSCAPING. Prior to the issuance of a building permit, a landscape <br />financial security in the amount of $50,000.00 shall be submitted by Developer. The Landscape <br />financial security shall be held for two full growing seasons. For any landscaping or screening <br />that is not accordance with the approved plans at the end of two growing seasons, Developer will <br />replace the material to the City’s satisfaction before the guaranty is released. If Developer fails <br />to replace any landscaping as required by the previous sentence, the City may, at its sole <br />discretion, use the proceeds of the performance guaranty to accomplish performance. See <br />requirements in Report of Community Development Manager/City Planner dated January 25, <br />2021 and February 8, 2021. <br /> 27. TREE PRESERVATION. The Developer shall work with the City to locate the <br />additional caliper inches of replacement trees on the site or on the adjacent properties. If the <br />replacement trees cannot be reasonably accommodated on the site, the applicant shall provide a <br />fee in lieu of plantings in the amount of $50,000. See requirements in Reports of Community <br />Development Manager/City Planner dated January 25, 2021 and February 8, 2021. <br /> 28. SPECIAL PROVISIONS. The following special provisions shall apply to the <br />Development: