HomeMy WebLinkAbout#12 Private Development Projects-Approve Security Reductions
MAYOR & COUNCIL COMMUNICATION
-- page 1 --
DATE: December 20, 2016
CONSENT
ITEM # 12
AGENDA ITEM: Private Development Projects – Approve Security Reductions.
SUBMITTED BY: Jack Griffin, City Engineer
THROUGH: Kristina Handt, City Administrator
REVIEWED BY: Stephen Wensman, City Planner
Cathy Bendel, Finance Director
SUGGESTED ORDER OF BUSINESS if removed from the Consent Agenda):
- Questions from Council to Staff ............................................. Mayor Facilitates
- Public Input, if Appropriate………………………………….Mayor Facilitates
- Call for Motion ............................................................... Mayor & City Council
- Discussion ....................................................................... Mayor & City Council
- Action on Motion .................................................................... Mayor Facilitates
POLICY RECOMMENDER: Engineering/Planning.
FISCAL IMPACT: It is the City’s goal to retain at all times during the subdivision improvements a
security amount that is adequate to ensure completion of all elements of the improvements as protection
to the City tax payers against the potential of developer default. With these reductions, the remaining
security amounts held by the City remains sufficient to complete the remaining improvements.
SUMMARY AND ACTION REQUESTED: The City Council is respectfully requested to consider
approving, as part of the Consent Agenda, the security reductions for several private development
projects as detailed in this report and supporting documentation.
LEGISLATIVE HISTORY/BACKGROUND INFORMATION: Several developers have submitted
requests for security reductions. These requests have been reviewed by staff and the following reductions
are being recommended as follows:
Current Security Amount Proposed Security Amount
1. Boulder Ponds 1st Addition: $1,125,035 $ 945,215
2. Hunters Crossing 1st Addition: $ 894,649 $ 431,488
3. Hunters Crossing 2nd Addition: $ 591,726 $ 340,287
4. Easton Village 1st Addition: $3,094,068 $1,248,878
5. Savona 1st Addition: $2,144,399 $ 849,210
6. Savona 2nd Addition: $1,444,785 $ 970,756
7. Savona 3rd Addition: $3,365,764 $1,897,288
City Council Meeting [Consent Agenda Item 12]
December 20, 2016
-- page 2 --
Each development is at a various stage of completion and each reduction amount has been reviewed
according to the extent of completion for each infrastructure component as detailed in the attached
Security Reduction Worksheets.
RECOMMENDATION: Staff is recommending that the City Council approve, as part of the Consent
Agenda, the security reductions as recommended in this report and attached supporting documentation for
the Boulder Ponds 1st Addition, Hunters Crossing 1st Addition, Hunters Crossing 2nd Addition, Easton
Village 1st Addition, Savona 1st Addition, Savona 2nd Addition, and Savona 3rd Addition. If removed
from the consent agenda, the recommended motion for the action is as follows:
“Move to approve security reductions for the Boulder Ponds 1st Addition, Hunters Crossing 1st
Addition, Hunters Crossing 2nd Addition, Easton Village 1st Addition, Savona 1st Addition, Savona
2nd Addition, and Savona 3rd Addition as detailed above and in their respective Security Reduction
Worksheet attached to this report.”
ATTACHMENT(S):
1. Security Reduction Worksheet – Boulder Ponds 1st Addition.
2. Security Reduction Worksheet – Hunters Crossing 1st Addition.
3. Security Reduction Worksheet – Hunters Crossing 2nd Addition.
4. Security Reduction Worksheet – Easton Village 1st Addition.
5. Security Reduction Worksheet – Savona 1st Addition.
6. Security Reduction Worksheet – Savona 2nd Addition.
7. Security Reduction Worksheet – Savona 3rd Addition.
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t
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o
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Po
n
d
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l
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t
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N
A
In
c
l
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d
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n
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s
t
A
d
d
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Re
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$
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5
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$
3
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TO
T
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S
$
9
1
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3
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3
$
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1
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4
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4
RE
L
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A
M
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:
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5
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6
7
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$0
$0
$
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$
0
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CU
M
M
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:
$5
5
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DA
T
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/
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1
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RE
D
U
C
T
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L
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3
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DE
V
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#
1
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2
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3
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4
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5
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6
Gr
a
d
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n
g
$
7
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9
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9
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4
Sa
n
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t
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e
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e
r
$
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%
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t
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a
i
n
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75
%
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St
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(
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)
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50
%
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St
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s
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%
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0
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6
Si
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l
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/
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l
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%
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Su
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s
N
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N
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St
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N
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N
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St
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s
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s
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6
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7
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%
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,
2
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Pr
i
v
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t
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La
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Tr
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R
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We
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M
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N
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s
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3
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o
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l
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s
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T
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e
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r
3
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V
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#
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a
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g
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n
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r
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%
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%
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St
r
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s
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%
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1
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Su
r
f
a
c
e
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a
t
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a
c
i
l
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t
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e
s
$
4
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2
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50
%
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Er
o
s
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o
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C
o
n
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r
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l
$
5
2
,
5
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3
$
6
5
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6
6
6
50
%
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2
,
8
3
3
Si
d
e
w
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l
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s
/
T
r
a
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l
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$
1
1
9
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6
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5
3
75
%
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1
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1
6
4
St
r
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e
t
L
i
g
h
t
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n
g
N
A
N
A
By
X
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l
E
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y
St
r
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g
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s
$
1
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6
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0
50
%
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,
2
5
0
La
n
d
s
c
a
p
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n
g
$
9
7
,
2
3
6
$
1
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1
,
5
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5
0%
Tr
e
e
P
r
e
s
e
r
v
a
t
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o
n
a
n
d
R
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s
t
o
r
a
t
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n
N
A
N
A
We
t
l
a
n
d
M
i
t
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g
a
t
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n
a
n
d
B
u
f
f
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s
N
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LO
C
T
h
r
o
u
g
h
V
B
W
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Mo
n
u
m
e
n
t
s
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6
,
4
5
0
$
8
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0
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0%
Mi
s
c
e
l
l
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n
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a
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N
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Re
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o
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r
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s
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2
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5
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3
,
1
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TO
T
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L
S
$
2
,
4
9
1
,
0
7
7
$
3
,
1
1
3
,
8
4
6
RE
L
E
A
S
E
D
A
M
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N
T
S
:
$9
6
9
,
4
4
8
$
1
,
2
9
5
,
1
8
9
$
0
$
0
$
0
$
0
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7
5
,
3
3
7
CU
M
M
U
L
A
T
I
V
E
A
M
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U
N
T
S
:
$9
6
9
,
4
4
8
$
2
,
2
6
4
,
6
3
7
SE
C
U
R
I
T
Y
A
M
O
U
N
T
R
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M
A
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N
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N
G
:
$2
,
1
4
4
,
3
9
9
$
8
4
9
,
2
1
0
DA
T
E
:
3
/
2
/
2
0
1
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1
2
/
2
0
/
2
0
1
6
RE
D
U
C
T
I
O
N
S
SA
V
O
N
A
2
N
D
A
D
D
I
T
I
O
N
T
i
m
e
o
f
P
e
r
f
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r
m
a
n
c
e
:
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c
t
o
b
e
r
3
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2
0
1
5
DE
V
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L
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T
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1
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%
R
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R
K
S
#
1
#
2
#
3
#
4
#
5
#
6
Gr
a
d
i
n
g
N
A
N
A
N
A
Sa
n
i
t
a
r
y
S
e
w
e
r
$
3
1
4
,
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3
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4
3
75
%
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6
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1
$
9
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,
3
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1
Wa
t
e
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m
a
i
n
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4
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5
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1
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$
6
0
6
,
4
6
4
75
%
$3
0
3
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2
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2
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1
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1
,
6
1
6
St
r
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e
t
s
$
6
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6
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7
6
8
,
5
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5
75
%
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8
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2
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2
$
1
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2
,
1
3
6
Su
r
f
a
c
e
W
a
t
e
r
F
a
c
i
l
i
t
i
e
s
$
4
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1
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3
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2
$
5
8
9
,
1
6
5
50
%
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5
8
3
Er
o
s
i
o
n
C
o
n
t
r
o
l
$
5
1
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1
4
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$
6
3
,
9
3
3
50
%
$3
1
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9
6
6
Si
d
e
w
a
l
k
s
/
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r
a
i
l
s
I
n
c
l
u
d
e
d
i
n
S
t
r
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e
t
s
I
n
c
l
u
d
e
d
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n
S
t
r
e
e
t
s
St
r
e
e
t
L
i
g
h
t
i
n
g
N
A
N
A
By
X
c
e
l
E
n
e
r
g
y
St
r
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e
t
S
i
g
n
s
a
n
d
T
r
a
f
f
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c
C
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n
t
r
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l
S
i
g
n
s
I
n
c
l
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d
e
d
i
n
S
t
r
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t
s
I
n
c
l
u
d
ed
i
n
S
t
r
e
e
t
s
La
n
d
s
c
a
p
i
n
g
$
1
5
3
,
4
1
5
$
1
9
1
,
7
6
9
0%
Tr
e
e
P
r
e
s
e
r
v
a
t
i
o
n
a
n
d
R
e
s
t
o
r
a
t
i
o
n
N
A
N
A
We
t
l
a
n
d
M
i
t
i
g
a
t
i
o
n
a
n
d
B
u
f
f
e
r
s
N
A
N
A
LO
C
T
h
r
o
u
g
h
V
B
W
D
Mo
n
u
m
e
n
t
s
$
5
,
8
0
0
$
7
,
2
5
0
0%
Mi
s
c
e
l
l
a
n
e
o
u
s
F
a
c
i
l
i
t
i
e
s
N
A
N
A
Re
c
o
r
d
D
r
a
w
i
n
g
s
$
2
,
5
0
0
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3
,
1
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5
0%
TO
T
A
L
S
$
2
,
0
9
8
,
7
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$
2
,
6
2
3
,
4
9
4
RE
L
E
A
S
E
D
A
M
O
U
N
T
S
:
$1
,
1
7
8
,
7
0
9
$
4
7
4
,
0
2
9
$0
$0
$
0
$
0
$6
5
5
,
8
7
3
CU
M
M
U
L
A
T
I
V
E
A
M
O
U
N
T
S
:
$1
,
1
7
8
,
7
0
9
$
1
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