HomeMy WebLinkAbout#09 - Hammes 1st & 2nd Addn Security Reduction STAFF REPORT
DATE: November 20, 2018
CONSENT
ITEM #: 9
AGENDA ITEM: Approve Development Security Reductions for Hammes 1st & 2nd Additions
SUBMITTED BY: Jack Griffin, City Engineer
REVIEWED BY: Kristina Handt, City Administrator
Ken Roberts, Planning Director
Chad Isakson, Assistance City Engineer
ISSUE BEFORE COUNCIL: Should the City Council approve development security reductions for the
Hammes 1st and Hammes 2nd Additions?
PROPOSAL DETAILS/ANALYSIS: Staff has received and processed requests to reduce the
development security in accordance with the various development projects. These requests have been
reviewed and the following reductions are being recommended for approval:
Current Security Amount Proposed Security Amount
1. Hammes 1st Addition $1,636,912 $1,441,912
2. Hammes 2nd Addition $ 890,789 $ 323,900
Work within each of these developments have progressed in accordance with the respective development
agreement and to the extent necessary to support a reduction in the security as detailed in this report.
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 this reduction, the remaining security
amount held by the City remains sufficient to complete the remaining improvements.
RECOMMENDATION: Staff is recommending that the City Council approve, as part of the Consent
Agenda, the security reductions for the Hammes 1st and Hammes 2nd Additions as detailed in this report
and supporting documentation. If removed from the consent agenda, the recommended motion for the
action is as follows:
“Move to approve security reductions for the Hammes 1st and Hammes 2nd Additions as detailed in
the attached Security Reduction Worksheet.”
ATTACHMENTS:
1. Security Reduction Worksheet – Hammes 1st Addition.
2. Security Reduction Worksheet – Hammes 2nd Addition.
HAMMES 1ST ADDITION Time of Performance: October 31, 2017
DEVELOPMENT AGREEMENT AMOUNTS
CATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6
Grading $156,000 $195,000 $195,000
Sanitary Sewer $413,076 $516,345 $387,259
Watermain $298,624 $373,280 $279,960
Storm Sewer (w/pond structures) $492,748 $615,935 $461,951
Streets $430,598 $538,247 $403,685
Sidewalks/Trails $111,360 $139,200
Surface Water Facilities NA NA
Street Lighting $54,000 $67,500
Street Signs and Traffic Control Signs $6,300 $7,875
Private Utilities (electricity, natural gas, telephone, and cable)
Landscaping $244,922 $306,153
Tree Preservation and Restoration NA NA
Wetland Mitigation and Buffers $50,000 $62,500
Monuments $5,700 $7,125
Erosion Control $195,986 $244,982
Boardwalk $66,500 $83,125
Record Drawings $10,000 $12,500
TOTALS $2,535,813 $3,169,767 RELEASED AMOUNTS:$1,532,855 $195,000
CUMMULATIVE AMOUNTS:$1,532,855 $1,727,855
SECURITY AMOUNT REMAINING:$1,636,912 $1,441,912
DATE:9/5/2017 11/20/2018
REDUCTIONS
HAMMES 2ND ADDITION Time of Performance: October 31, 2017
DEVELOPMENT AGREEMENT AMOUNTS
CATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6
Grading NA NA Included in Phase 1
Sanitary Sewer $121,909 $152,386 $114,290
Watermain $107,523 $134,404 $100,803
Storm Sewer (w/pond structures) $139,803 $174,754 $131,065
Streets + Sidewalks $235,446 $294,308 $220,731
Bituminous Trails $7,783 $9,729
Surface Water Facilities NA NA
Street Lighting $18,000 $22,500
Street Signs and Traffic Control Signs $1,000 $1,250
Private Utilities (electricity, natural gas, telephone, and cable)
Landscaping $53,588 $66,985
Tree Preservation and Restoration NA NA
Wetland Mitigation and Buffers NA NA
Monuments $3,700 $4,625
Erosion Control $18,878 $23,598
Miscellaneous Facilities NA NA
Record Drawings $5,000 $6,250
TOTALS $712,630 $890,789 RELEASED AMOUNTS:$566,888
$222,697.13 CUMMULATIVE AMOUNTS:$566,888
SECURITY AMOUNT REMAINING:$323,900
DATE:11/20/2018
REDUCTIONS