01-20-26 City Council Meeting Packet

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STAFF REPORT DATE: January 20, 2026 CONSENT TO: City Council FROM: Mike Rusenovich, Project Engineer AGENDA ITEM: Approve Release of Warranty Security for the Launch Crossroads Development REVIEWED BY: Nicole Miller, City Administrator Clarissa Hadler, Finance Director Jason Stopa, Community Development Director Adam Swanepoel, Interim 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: GWSA Land Development, LLC entered into a development agreement with the City for Crossroads East (AKA Launch Crossroads) on February 15, 2022. The public improvement warranty period ended on January 2, 2025, and the sanitary sewer and watermain warranty period ended on January 2, 2026. ISSUE BEFORE COUNCIL: Should the City Council approve release of the warranty security for the Launch Crossroads development as outlined in the Development Agreement? PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to release the warranty security for the Launch Crossroads development. This request has been reviewed and is being recommended for approval in accordance with the approved Development Agreement. The 2-year warranty period for the sanitary sewer and watermain expired on January 2, 2026. Twenty-five percent (25%) of the original security was retained through the 2-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 release of the warranty security the overall development security may be reduced as shown below: Current Security Amount Proposed Security Amount 1. Launch Crossroads $358,854 $107,389 Twenty-five percent (25%) of the landscaping security amount will be retained.