1998-05-18 Special Called Regular Meeting of City Council

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of these facilities . change as a result of the Prelimin.Engineering Report or Final Design. 2. City hereby agrees to construct and install utility main(s) to said proposed lift station site commencing at the nearest existing utility main(s) of sufficient size and capacity. Thence along/through City rights-of-way and/or easements to proposed lift station site. City shall be solely responsible for obtaining said additional rights-of-way and/or easements. Developer shall dedicate, or cause to be dedicated, by fee simple warranty deed, at no cost to City, a 60' by 60' lift station site adjacent to the south right-of-way line of McCabe Road and west of Taylor Bayou, and any necessary easements from the lift station site to the Property. This dedication shall take place within 60 (sixty) days of the execution of this Agreement and prior to the issuance of a building permit for Developer's multi-family project. 3. City agrees to pay for the construction and installation of said main(s) including necessary appurtenances. City further agrees to pay all engineering fees for survey, design, contact documents, bidding, construction staking, construction inspection, and preparation of Record drawings. 4. Developer agrees to pay, in the form of a certified check, the City for Utility Mains. The amount of such payment shall be equal to $119,500.00. Said $119,500.00 payment is the proportionate cost of the project that will serve undeveloped property in Southeast La Porte area. It is estimated that 9 % of the future wastewater flows being served by the herein- described utility mains, will come from Developer's 1O.35-acre multi-family development. $119,500.00 is 9% of the project cost, currently estimated to be $1,328,330.00. After completion of the construction of the utility mains, City's engineer will calculate a final proj~t cost. If the final project cost is less than the estimated project cost of $1,328,330.00, then 9% of the difference between the estimated project cost and final project cost will be refunded by the City to the Developer. 5. Subject to the provisions of this Agreement, City hereby agrees to construct and install utility main(s) according to the plans and specifications to be prepared by the City's engineer. When the City issues a building permit for Developer's multi-family project, Developer shall deposit with City in escrow a sum equal to fifty percent (50%) of the $119,500.00 as described in C:/My Documents/Water and Sewer/bayou forestUEA_980512 10