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trees may be removed for the installation of utilities, driveways, and building pads without tree replacement or resolution. 4. Significant trees in excess of the limitations of this Section may be removed, provided all trees removed in excess of said limitations shall be replaced in accordance with the Tree Replacement Formula. G. Tree Replacement Formula: Replacement of removed or disturbed trees in excess of that which is allowed under a tree preservation plan shall be according to the following guidelines: 1. Significant Trees: Significant trees shall be replaced at the ratio of 0.5 caliper inch per 1 DBH-inch removed. 2. Heritage Trees: a. Due to their inherently greater value, heritage trees shall be replaced at a ratio of 2 caliper inches per DBH-inch. b. For each heritage tree saved, the developer may receive credit towards the required replacement trees. This credit will be at a rate of 2 caliper inches for each DBH-inch saved. To receive this credit, the applicant must demonstrate that extraordinary measures have been taken to preserve the heritage trees that otherwise would not be saved. 3. Required replacement trees shall be planted on the site being developed. The applicant may also request approval to plant replacement trees on boulevards, at the discretion of the City. 4. Minimum sizes for replacement trees shall be: a. Deciduous Trees: 3 -inch caliper b. Coniferous Trees: 6 feet in height 5. Replacement trees shall be from balled and burlapped, certified nursery stock as defined and controlled by MN Stat. 18.44 through 18.6 1, the Plant Pest Act, as may be amended from time to time. Replacement trees may also be from bare root stock, provided the trees are planted no later than May 15th in any year, and the planting is inspected by the City. 6. Replacement trees shall be covered by a minimum 2 -year guarantee. 7. Replacement trees shall be of a species similar to other trees found on the site where removal has taken place. Selection of replacement tree types for use on public sites shall be at the sole discretion of the City. 8. Where heritage trees have been removed, replacement trees shall consist of the same species as the removed heritage tree, or a tree that has the same potential value as the removed heritage tree. This value shall be certified by a certified forester or arborist. For the purposes of this paragraph, value is defined as a species which has the same growth and life potential as the removed tree. 9. Replacement trees may be utilized to meet landscaping and screening requirements if placement, species, and location are consistent with those requirements. H. Certification of Compliance with Approved Landscape Plan: Upon completion of the required landscape installation, the Developer shall notify the City and request an inspection of the work. Following the inspection, the City shall notify the Developer that all work has been satisfactorily completed, or what work is still required. The required warranty period, shall begin on the date of the letter of satisfactory completion issued by the City. L Warranty Requirement: 1. New Development Sites: The Developer shall provide afinancial guarantee, in aform satisfactory to the City, prior to the approval or issuance of any permit for land alteration. a. The amount of the guarantee shall be 125% of the estimated cost to furnish and plant replacement trees. The estimated cost shall be provided by the Developer subject to approval by the City. The estimated cost shall be at least as much as the reasonable amount charged by nurseries for the furnishing and planting of replacement trees. The City reserves the right in its sole discretion to determine the estimated cost in the event the Developer's estimated cost is not approved. b. The security shall be maintained for at least 2 years after the date that the last replacement tree has been planted. Upon a showing by the Developer and such inspection as may be made by the City, that portion of the security may be released by the City equal to 125% of the estimated cost