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<br />City of Arden Hills <br />2005 Assessment Policy <br /> <br />P ABTIl:. POLtC!xFQR1.riifflllRiif;;};(jPMRNi'll$ <br /> <br />. <br /> <br />The assessment policy for anyone who wishes to make public improvements within <br />the City of Arden Hills, as part of a proposed development shall conform to the <br />policies established herein and as modified below. It is the responsibility of the <br />developer to assume total costs (100%) for all new road and street construction <br />including, lights, sanitary sewer, water, and storm water. <br /> <br />Prior to any action on the part of the City to determine the feasibility of providing <br />public improvements, the developer shall deposit such amount as determined by the <br />City Administrator to adequately reimburse the City for all engineering, legal and <br />planning, and other consultant fees for work performed in regard to such <br />improvements. <br /> <br />In addition, the developer shall he required prior to the City ordering the installation <br />of any City financed improvements, to enter into a Development Contract insuring <br />compliance with the policies set out herein and all subdivision requirements ofthe <br />City. The developer shall also be required to post all eash deposits, and/or letters of <br />credit prior to such aetion by the City Council. In all projects that the City constructs <br />and finances, the following security provisions shall apply. <br /> <br />. <br /> <br />A. For single family, two family or townhouse residential developments, the <br />developer shall deposit with thc City a cash escrow or an irrevocable letter of <br />credit of not less than one hundred twenty-five percent (125%) of the estimated <br />project cost as determined by the City Engineer. Ifthe estimated project cost, as <br />determined after receipt of bids for construction, exceeds the Engineer's <br />estimate by ten percent (10%) or more, the deposit shall be increased <br />proportionately. The total project costs shall be assessed in equal annual <br />installments according to the assessment period. <br /> <br />C. In the case where the improvements benefit not only the property being <br />developed, but other areas within the City, the developer shall provide to the <br />City a security deposit in accordance with paragraphs described above for the <br />portion of the estimated project costs that represent the benefit to the proposed <br />development. Such portion shall be assessed against the properties benefited. <br /> <br />1. For all other types of development, the developer shall deposit with the <br />City a cash escrow or irrevocable letter of credit of not less than one <br />hundred twenty-five percent (l25%) of the cstimated project cost as <br />determined by the City Engineer. If the estimated project cost as <br />determined after receipt of bids for construction exceeds the Engineer's <br /> <br />. <br /> <br />2005 Assessment Policy Manual - Page 14 <br />