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<br /> STAFF REPORT <br />DATE: June 3, 2025 <br /> CONSENT <br /> <br />TO: City Council <br />FROM: Mike Rusenovich, Project Engineer <br />AGENDA ITEM: Approve Release of Warranty Security for the Northport 3rd Addition <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: Pulte Homes of Minnesota, LLC entered into a development agreement with the City <br />for the Northport 3rd Addition on April 7, 2020. The sanitary sewer and watermain warranty period ended <br />on January 4, 2024. The public improvement warranty period ended on January 16, 2025. <br /> <br />ISSUE BEFORE COUNCIL: Should the City Council approve the release of warranty security for public <br />improvements for the Northport 3rd Addition? <br /> <br />PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to release the <br />development security for the Northport 3rd Addition. The one-year warranty period for the public <br />improvements expired on January 16, 2025. Twenty-five percent (25%) of the original security was retained <br />through the one-year warranty period. A warranty walk-through has been completed by city staff and all <br />warranty punch list items have since been addressed by the developer. <br /> <br />With the release of the 1-year warranty security the overall development security is recommended to be <br />reduced as shown below: <br /> <br /> Current Security Amount Proposed Security Amount <br />1. Northport 3rd Addition $255,882 $13,594 <br /> <br />Twenty-five percent (25%) of the landscaping security amount will be retained. <br /> <br />FISCAL IMPACT: Release of the warranty security closes out the public improvement portion of the <br />development. The operation and maintenance of the public facilities becomes the responsibility of the City <br />going forward.