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• Part II — Policy for New Developments <br /> The assessment policy for anyone 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 including, lights, sanitary sewer, water, and <br /> storm water. <br /> Prior to any action on the part of the City to determine the feasibility of providing public <br /> improvements, 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 /> 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 /> the 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 credit <br /> prior to such action by the City Council. In all projects that the City constructs and finances, <br /> the following security provisions shall apply. <br /> A. 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 one hundred twenty-five percent (125%) of the estimated project cost as <br /> determined by the City Engineer. If the estimated project cost, as determined after <br /> receipt of bids for construction, exceeds the Engineer's estimate by ten percent (10%) <br /> or more, the deposit shall be increased proportionately. The total project costs shall <br /> be assessed in equal annual installments according to the assessment period. <br /> B. In the case where the improvements benefit 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 described above for the portion of the <br /> estimated project costs that represent the benefit to the proposed development. Such <br /> portion shall be assessed against the properties benefited. <br /> For all other types of development, the developer shall deposit with the City a cash <br /> escrow or irrevocable letter 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 /> estimated project cost as determined after receipt of bids for construction exceeds the <br /> Engineer's estimate by ten percent (10%) or more, the deposit shall be increased <br /> proportionately. The total project costs shall be assessed in equal annual installments <br /> according to the assessment period. <br /> The security deposit shall be irrevocable for the full term of any assessments for <br /> which given. The agreement shall be so conditioned as to guarantee payment of the <br /> 1111 <br /> 2004 Assessment Policy—Page 13 <br />