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TKDA <br />ENGINEERS - ARCHITECTS•PLANNERS <br />MEMORANDUM <br />To: <br />Chuck Dillerud Reference: <br />Copies To: <br />Todd Erickson, P. E. <br />Project No. <br />From: <br />Thomas D. Prew, P.E. Routing: <br />Date: <br />February 17, 2006 <br />1500 Piper Jeffrey Plaza <br />444 Cedar Street <br />Saint Paul, MN 55101-2140 <br />(651)292-4400 <br />(651) 292.0083 Fax <br />www.tkda.com <br />Escrow Reduction #1 <br />Sanctuary <br />City of Lake Elmo, Minnesota <br />13267,000 <br />The developer has completed much of the pipe work and has placed the initial paving on one section of the <br />road. A temporary paved surface was placed on Manning as well. The drainfield has not yet been started. <br />Brown's Creek Watershed District holds the letter of credit on the grading portion of this project. <br />I would recommend that escrow be reduced to the amounts listed below: <br />Item <br />Original Amount <br />Work Remaining <br />Site Grading/ Turf Establishment <br />$0.00 <br />$0.00 <br />Storm Sewer <br />$285,209.00 <br />$20,000.00 <br />Sanitary Sewer <br />$132,468.00 <br />$10,000.00 <br />Drainfield <br />$775,000.00 <br />$775,000.00 <br />Watermain <br />$510,339.00 <br />$15,000.00 <br />Streets <br />$488,948.00 <br />$300,000.00 <br />Street Signs <br />$1,000.00 <br />$1,000.00 <br />Landscaping <br />$110,000.00 <br />$110,000.00 <br />Subtotal $2,302,964.00 $1,231,000.00 <br />125% Security $2,878,705.00 $1,538,750.00 <br />An Employee Owned Company Promoting Affirmative Action and Equal Opporturrhy <br />