2019-05-22 CC Packet - Laserfiche WebLink

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Additional Security deposited with the District Court, except that the Court shall retain jurisdiction to determine attorneys' fees pursuant to this Agreement. 21. FEES. The following fees are required by law to be included in this Agreement, and shall apply to plat development(These fee calculations are contained in Exhibit E). A. Park Dedication Fees The Parties agree that the fair market value necessary to calculate the park dedication fee shall be calculated as set forth in this section. Phase 1: These fees shall be paid in an amount equal to 14 lots. The fee per lot equals the stated amount in the City's fee schedule at the time a building permit is issued. The 14 lot fees shall be paid on a per lot basis before issuance of each building permit. The City will honor the amount of the per lot park dedication fee from the City's 2019 fee schedule for a period of twenty-four (24) months from the effective date of this Agreement. The amount of that fee is currently equal to $3,000.00 per lot. Phase 2: These fees shall be paid in an amount equal to 21 lots. The fee per lot equals the stated amount in the City's fee schedule at the time a building permit is issued. The 21 lot fees shall be paid on a per lot basis before issuance of each building permit for lots contained on current Preliminary Plat, or for lots contained on the Final Plat adopted for Phase 2. In the event the number of lot fees exceeds the number of lots on the Preliminary or Final Plat, the balance of the lot fees shall be due when the first park dedication lot fee is paid for construction in Phase 2. Storm Water Area Charge These fees must be paid in full in cash upon execution of this Agreement and approval of the Final Plat. Developer's failure to timely pay fees shall constitute a default, and be grounds for denial of building permits. VERSION FOR COUNCIL 05/22/2019 Page 13