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<br /> STAFF REPORT <br />DATE: August 19, 2025 <br /> CONSENT <br /> <br />TO: City Council <br />FROM: Mike Rusenovich, Project Engineer <br />AGENDA ITEM: Approve Security Reduction for the Gardner School Site Improvements <br />(9880 Hudson Blvd) <br />REVIEWED BY: Nicole Miller, City Administrator <br /> Clarissa Hadler, Finance Director <br /> Jason Stopa, Community Development Director <br /> Marty Powers, Public Works Director <br /> Nate Stanley, City Engineer <br /> <br /> <br />CORE STRATEGIES: <br /> <br />☐ Vibrant, inclusive, connected community ☐ Efficient, reliable, innovative services <br />☐ Responsive, transparent, adaptive governance ☒ Balanced Finances now and future <br />☒ Managed Growth ☒ Resilient Infrastructure <br /> <br /> <br />BACKGROUND: Viking Development, LLC. entered into a site improvement agreement with the City <br />for the Gardner School Site Improvements (9880 Hudson Blvd) on July 23, 2024. Construction of the public <br />site improvements is now complete. <br /> <br />ISSUE BEFORE COUNCIL: Should the City Council reduce the security amount as outlined on the <br />attached worksheet? <br /> <br />PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to reduce the <br />development security for the Gardner School Site Improvements. This request has been reviewed by City <br />staff and is recommended for approval. Approval of this reduction is contingent on the developer having a <br />positive escrow balance in the minimum amount required by the City, and the developer being current with <br />all payments and obligations required by the Site Improvement Agreement. The security amount is <br />recommended to be reduced as follows: <br /> <br /> Current Security Amount Proposed Security Amount <br />1. Gardner School (9880 Hudson Blvd) $214,215 $62,858 <br /> <br />The warranty period for the Gardner School Site Improvements is identified on the attached Certificate of <br />Completion. The Certificate of Completion was issued on June 30, 2025, beginning the one-year Site <br />Improvement warranty. With this request, one hundred percent of the grading security will be released. <br />Fifty percent (50%) of the original security amount for the remaining site improvement items and <br />landscaping will be retained until the applicable warranty periods have expired and all warranty corrective <br />work has been completed.