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18 <br />TW185\1\1011577.v13 <br />the Metropolitan Council's formula for calculating new sewer availability charge (SAC) units. The <br />Developer shall apply to the Metropolitan Council for a SAC determination for the Project. The <br />Parties acknowledge that this Agreement was prepared prior to receiving a SAC unit determination <br />from the Metropolitan Council, and final charges will be adjusted in accordance with the adopted <br />fee schedule for the City of Arden Hills and number of SAC units. <br />25. WATER CHARGE. Prior to issuance of a building permit for the Project, <br />Developer shall pay charges for water supply. The water connection fee will be collected at the <br />rate as adopted in the city fee schedule at the time of issuance of the building permit based on per <br />acre or portion thereof. The water availability fee in an amount to be determined based on the <br />Metropolitan Council's formula for calculating new sewer availability charge (SAC) units. The <br />Developer shall apply to the Metropolitan Council for a SAC determination for the Project. The <br />Parties acknowledge that this Agreement was prepared prior to receiving a SAC unit determination <br />from the Metropolitan Council, and final charges will be adjusted in accordance with the adopted <br />fee schedule for the City of Arden Hills and number of SAC units. <br />26. STORM SEWER CHARGE. The Project is subject to charges for stormwater <br />review and approval by the Rice Creek Watershed District. <br />27. COMMERCIAL/INDUSTRIAL LAND DEDICATION. The Developer shall <br />submit a cash contribution in lieu of land dedication. The cash payment shall be determined based <br />on the fair market value of 7.5% of the land that would otherwise be dedicated to the City. Based <br />upon the fair market value of the land of $3,122,642.16, the Developer shall submit the <br />commercial/industrial land dedication fee of $234.198.16 prior to the issuance of a building permit <br />for the Project.