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<br />. <br /> <br />. <br /> <br />. <br /> <br />Part II - Policy for New Developments <br /> <br />The assessment policy for anyonc who wishes to make public improvements within the City <br />of Arden Hills, as part of a proposed development shall conform to the policies established <br />herein and as modified below. It is the responsibility of the developer to assume total costs <br />(100%) for all new road and street construction ineluding, lights, sanitary sewer, water, and <br />storm water. <br /> <br />Prior to any action on the part of the City to determine the feasibility of providing public <br />improvcments, the developer shall deposit such amount as determined by the City <br />Administrator to adequately reimburse the City for all engineering, legal and planning, and <br />other consultant fees for work performed in regard to such improvements. <br /> <br />In addition, the developer shall be required prior to the City ordering the installation of any <br />City financed improvements, to enter into a Development Contract insuring compliance with <br />thc policies set out herein and all subdivision requirements of the <br />City. The developer shall also be required to post all cash deposits, and/or letters of crcdit <br />prior to such action by the City Council. Iu all projects that the City constructs and finances, <br />the following security provisions shall apply. <br /> <br />A. <br /> <br />For single family, two family or townhouse residential developments, the developer <br />shall deposit with the City a cash escrow or an irrevocable letter of credit of not less <br />than onc hundrcd twcnty-five percent (125%) of the estimated project cost as <br />determincd by the City Engineer. If the estimated project cost, as determined after <br />rcccipt of bids for construction, exceeds the Engincer's estimate by ten percent (10%) <br />or more, the deposit shall be increased proportionately. Thc total project costs shall <br />be assessed in equal annual installments according to the assessment period. <br /> <br />B. In the casc where the improvemcnts bcnefit not only the property being developed, <br />but other areas within the City, the developer shall provide to the City a security <br />deposit in accordance with paragraphs describcd above for the portion of the <br />estimated project costs that reprcsent the benefit to tbe proposed development. Such <br />portion shall be assessed against the properties benefited. <br /> <br />For all other types of development, the developer shall deposit with the City a cash <br />escrow or irrcvocable lctter of credit of not less than one hundred twenty-five percent <br />(125%) of the estimated project cost as determined by the City Engineer. If the <br />cstimated project cost as determined after receipt of bids for construction cxcecds thc <br />Engineer's estimate by ten percent (10%) or more, the deposit shall bc increascd <br />proportionately. The total project costs shall be assessed in equal annual installments <br />according to the assessment period. <br /> <br />The security deposit shall be irrevocable for the full term of any asscssments for <br />which given. The agreement shall be so conditioned as to guarantee payment ofthc <br /> <br />2004 Assessment Policy - Page 13 <br />