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submittal of an additional escrow deposit sufficient to cover any anticipated expenses. Upon City <br /> determination that the project is complete or expired, the City will return the remaining escrow deposit to the <br /> applicant. <br /> DEVELOPMENT FEES <br /> GIS Mapping Fee $ 90.00 /Lot <br /> Park Dedication <br /> Commercial/Industrial/Assisted-Living/Skilled $ 2,600.00 /Acre <br /> Nursing <br /> Residential $ 3,500.00 /Unit <br /> Tree Preservation Mitigation Fee $ 500.00 /Tree <br /> Street Lighting Operation Fee (New Development) $ 120.00 /Light ($8/mo/light x 15 <br /> months) <br /> ECONOMIC DEVELOPMENT ASSISTANCE <br /> Tax Increment Financing or Tax Abatement $ 12,500.00 Escrow Deposit <br /> Tax Exempt Financing $ 2,500.00 Application Fee, plus 1% <br /> Administration Fee <br /> STAFF TIME <br /> Staff time for chargeable event/projects shall be charged as the employee's hourly rate of pay plus benefits <br /> plus calculated overhead costs (when applicable). Overtime will be charged at 1.5 times the calculated hourly <br /> rate. <br /> LATE FEE <br /> Late penalty fee: a late charge of 10% or$25.00, whichever is greater, will be charged for fees not paid when <br /> due. <br /> Section 2. Effective Date of Ordinance. This ordinance shall be in force and effect on January 1, 2025 and <br /> from and after its passage and publication according to the Lino Lakes City Charter. <br /> Adopted by the Lino Lakes City Council on this 12th day of November, 2024. <br /> Rob Rafferty, Mayor <br /> ATTEST: <br /> Roberta Colotti, CMC, City Clerk <br />