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$ornbostel: hat is the amount of this <br /> ispraveaent guarantee that's <br /> required? <br /> Franklin: The subdivision Agreement exhibit, <br /> the engineer's estimate as it is <br /> worded, is intended to provide a <br /> reasonable coverage for the cost of <br /> public improvements as it is used <br /> for performance guarantee. Under <br /> the terms of the subdivision <br /> agreement, if the developer doss <br /> nothing/takes out no permits, it can <br /> be 25% of that number. until we <br /> issue permits, it would be 115% and <br /> then it would be on a sliding scale, <br /> standard provisions. That number is <br /> s reasonable estimate based on <br /> current construction costs and is <br /> used only in arriving at an amount <br /> of • guarantee. <br /> Griffiths: Just to clarify, is the total here, <br /> Exhibit C, under "total cost for <br /> Phase I ", at the bottom of the first <br /> page of Exhibit C, there is a number <br /> of $289,190.00 and on the next page <br /> there is the number $2,180.00, which <br /> appears to be a total. Would those <br /> two (2) added together be the <br /> estimated cost? <br /> Franklin: Yes. <br /> Griffiths: So, we're looking at $291,000.00? <br /> It's 111% of $291,000.00 for Phase 1 <br /> and thin you would follow those <br /> lines on across and you would find a <br /> total. <br /> Lathrop: The bike path on the east side of <br /> the devslopaent as it exists today, <br /> is there not same spacing from the <br /> existing Coal Creek subdivision to <br /> the concrete walk or ars they <br /> immediately adjacent to each other? <br /> Frs.kers They are mainly adjacent to it. <br /> That outlet that contains the <br /> existing bike path is 9 ft. vide and <br /> the bike path within it is $ ft. <br /> wide. <br /> 10 <br />