09-16-25 City Council Meeting Packet

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STAFF REPORT DATE: September 16, 2025 CONSENT TO: City Council FROM: Mike Rusenovich, Project Engineer AGENDA ITEM: Approve Security Reduction for the Ebertz Addition (Drake Motor Partners, LLC) REVIEWED BY: Nicole Miller, City Administrator Clarissa Hadler, Finance Director Jason Stopa, Community Development Director Marty Powers, Public Works Director Nate Stanley, City Engineer CORE STRATEGIES: ☐ Vibrant, inclusive, connected community ☐ Efficient, reliable, innovative services ☐ Responsive, transparent, adaptive governance ☒ Balanced Finances now and future ☒ Managed Growth ☒ Resilient Infrastructure BACKGROUND: Drake Motor Partners LE LLC entered into a development agreement with the City for the Ebertz Addition (Ebertz North) on June 13, 2023. The public improvement warranty period ended on August 20, 2025. The sanitary sewer and watermain warranty period will end on April 29, 2026. ISSUE BEFORE COUNCIL: Should the City Council approve a security reduction for the Ebertz Addition? PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to reduce the development security for the Ebertz Addition. The 1-year warranty period for the public improvements expired on August 20, 2025. Twenty-five percent (25%) of the original security was retained through the 1-year warranty period. A warranty walk-through was completed by city staff and all warranty punch list items have since been addressed by the developer. With the security reduction, the overall development security may be reduced as shown below: Current Security Amount Proposed Security Amount 1. Ebertz Addition $635,819 $167,937 Twenty-five percent (25%) of the public utility security (sanitary sewer and watermain) will be retained until the end of the public utility warranty period. Twenty-five percent (25%) of the landscaping security amount will also be retained.