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Home My WebLink About#08 - Private Development Security Reductions STAFF REPORT DATE: January 15, 2019 CONSENT AGENDA ITEM: Private Development Projects – Approve Security Reductions for Various Private Developments 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 security reductions for the various private developments itemized below? 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. Easton Village 4th Addition: $ 640,438 $ 454,176 2. Inwood 5th Addition: $ 1,895,983 $ 1,631,779 3. Northport 1st Addition: $ 3,214,034 $ 1,657,055 4. Legacy at Northstar 1st Addition: $ 2,504,109 $ 2,083,279 5. Royal Golf Club 2nd Addition: $ 3,232,172 $ 2,546,832 6. Southwind of Lake Elmo: $ 963,783 $ 793,403 7. Village Preserve 1st Addition: $ 342,927 $ 56,695 8. Village Preserve 2nd Addition: $ 184,933 $ 88,939 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 various private developments 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 various private developments as detailed in the attached Security Reduction Worksheets.” ATTACHMENTS: 1. Security Reduction Worksheet – Easton Village 4th Addition. 2. Security Reduction Worksheet – Inwood 5th Addition. 3. Security Reduction Worksheet – Northport 1st Addition. 4. Security Reduction Worksheet – Legacy at Northstar 1st Addition. 5. Security Reduction Worksheet – Royal Golf Club 2nd Addition. 6. Security Reduction Worksheet – Southwind of Lake Elmo. 7. Security Reduction Worksheet – Village Preserve 1st Addition. 8. Security Reduction Worksheet – Village Preserve 2nd Addition. EASTON VILLAGE 4TH ADDITION October 31, 2018DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading NA NASanitary Sewer $74,754 $93,443 $70,082Watermain $123,925 $154,906 $116,180Storm Sewer $109,294 $136,618Streets and Sidewalks $146,487 $183,109Trails NA NASurface Water Facilities NA NAStreet Lighting $12,000 $15,000By Xcel EnergyStreet Signs and Traffic Control Signs $700 $875Private Utilities (electricity, natural gas, telephone, and cableNA NALandscaping $15,900 $19,875Tree Preservation and Restoration NA NAWetland Mitigation and Buffers NA NAMonuments $2,400 $3,000Erosion Control $21,890 $27,363Misc. NA NARecord Drawings $5,000 $6,250TOTALS $512,350 $640,438RELEASED AMOUNTS:$186,262 $0 $0 $0 $0 $0CUMMULATIVE AMOUNTS:$186,262SECURITY AMOUNT REMAINING:$454,176DATE:1/15/2019Time of Performance: REDUCTIONS INWOOD 5TH ADDITION October 31, 2018DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading NA NAIncluded in Overall Grading AgreementSanitary Sewer $356,976 $446,220 $223,110$111,555Watermain $488,479 $610,599 $305,299$152,650Storm Sewer $189,979 $237,474 $118,737Streets and Sidewalks $673,595 $841,994 $420,997Trails $10,000 $12,500Surface Water Facilities $96,890 $121,113included in Grading AgreementStreet Lighting $66,000 $82,500By Xcel EnergyStreet Signs and Traffic Control Signs $8,850 $11,063Private Utilities (electricity, natural gas, telephone, and cable)Landscaping $180,000 $225,000Tree Preservation and Restoration NA NAWetland Mitigation and Buffers $2,250 $2,813Monuments $10,100 $12,625Erosion Control NA NAincluded in Grading AgreementTurn Lanes $283,182 $353,978Record Drawings $5,000 $6,250TOTALS $2,371,301 $2,964,127RELEASED AMOUNTS:$1,068,143 $264,205 $0 $0 $0 $0CUMMULATIVE AMOUNTS:$1,068,143 $1,332,348SECURITY AMOUNT REMAINING:$1,895,983 $1,631,779DATE:3/6/2018 1/15/2019Time of Performance: REDUCTIONS NORTHPORT 1ST ADDITION Time of Performance: October 31, 2018DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading NA $114,100Included in Phase 1Sanitary Sewer $480,346 $600,433 $450,324Watermain $362,155 $452,694 $339,520Storm Sewer (w/pond structures) $591,406 $739,258 $369,629Streets + Sidewalks + Turn Lanes $636,008 $795,010 $397,505Bituminous Trails $34,876 $43,595Surface Water Facilities $50,000 $62,500Street Lighting $72,000 $90,000Street Signs and Traffic Control Signs $2,600 $3,250Private Utilities (electricity, natural gas, telephone, and cable)Landscaping $192,025 $240,031Tree Preservation and Restoration NA NAWetland Mitigation and Buffers NA NAMonuments $4,860 $6,075Erosion Control $23,670 $29,588Miscellaneous Facilities NA NARecord Drawings $30,000 $37,500TOTALS $2,479,946 $3,214,034RELEASED AMOUNTS:$1,556,978 $0 $0 $0 $0 $0$774,983CUMMULATIVE AMOUNTS:$1,556,978SECURITY AMOUNT REMAINING:$1,657,055DATE:1/15/2019REDUCTIONS LEGACY AT NORTH STAR 1ST ADDITION Time of Performance: October 31, 2018DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading NA NAIncluded in Grading SecuritySanitary Sewer $366,592 $458,240 $229,120Watermain $306,735 $383,419 $191,709Storm Sewer (w/pond structures) $458,365 $572,956Streets + Sidewalks $666,635 $833,294Bituminous Trails $75,670 $94,588Surface Water Facilities NA NAStreet Lighting $36,000 $45,000Street Signs and Traffic Control Signs $8,150 $10,188Private Utilities (electricity, natural gas, telephone, and cable)Builder Landscaping $37,440 $46,800Landscaping $36,800 $46,000Tree Preservation and Restoration NA NAWetland Mitigation and Buffers NA NAIncluded in Grading SecurityMonuments $5,900 $7,375Erosion Control NA NAIncluded in Grading SecurityTurn Lane + By‐pass Lane $166,290 $207,863Costs missed in Original DARecord Drawings $5,000 $6,250TOTALS $2,169,577 $2,711,971RELEASED AMOUNTS:$420,829 $0 $0 $0 $0 $0$2,003,287 $2,504,109CUMMULATIVE AMOUNTS:$420,829SECURITY AMOUNT REMAINING:$2,083,279DATE:1/15/2019REDUCTIONS ROYAL GOLF CLUB 2ND ADDITION October 31, 2018DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading NA NAIncluded in Overall Grading AgreementSanitary Sewer $216,439 $270,549 $202,911Watermain $514,590 $643,238 $482,428Storm Sewer $409,749 $512,186Streets and Sidewalks $998,255 $1,247,818Trails $72,670 $90,838Surface Water Facilities NA NAincluded in Grading AgreementStreet Lighting $30,000 $37,500By Xcel EnergyStreet Signs and Traffic Control Signs $4,235 $5,294Landscaping $324,500 $405,625Tree Preservation and Restoration NA NAincluded in Grading AgreementWetland Mitigation and Buffers NA NAincluded in Grading AgreementMonuments $7,300 $9,125Erosion Control NA NAincluded in Grading AgreementTurn Lanes NA NABy CountyRecord Drawings $8,000 $10,000TOTALS $2,585,737 $3,232,172RELEASED AMOUNTS:$685,340 $0 $0 $0 $0 $0CUMMULATIVE AMOUNTS:$685,340SECURITY AMOUNT REMAINING:$2,546,832DATE:1/15/2019Time of Performance: REDUCTIONS SOUTHWIND OF LAKE ELMO Time of Performance: October 31, 2018DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading187,554$ $234,442 $234,442Sanitary Sewer117,757$ $147,19675%$110,397Watermain126,676$ $158,34575%$118,759Storm Sewer (w/pond structures)217,173$ $271,46675%$135,733 $67,867Streets + Sidewalks545,215$ $681,51875%$340,759$170,380Bituminous Trails32,525$ $40,656Surface Water Facilities35,185$ $43,981Street Lighting48,000$ $60,000Street Signs and Traffic Control Signs7,400$ $9,250Private Utilities (electricity, natural gas, telephone, and cable)Landscaping $225,042 $281,303Tree Preservation and Restoration NA NAWetland Mitigation and Buffers NA NAMonuments4,600$ $5,750Erosion Control25,265$ $31,5825TH Street North‐$ $0Record Drawings5,000$ $6,250TOTALS $1,577,391 $1,971,740RELEASED AMOUNTS:$705,649 $302,309 $170,380 $0 $0 $0$492,935.02CUMMULATIVE AMOUNTS:$705,649 $1,007,957 $1,178,337SECURITY AMOUNT REMAINING:$1,266,091 $963,783 $793,403DATE:1/16/2018 9/18/2018 1/15/2019REDUCTIONS VILLAGE PRESERVE 1ST ADDITION Time of Performance: October 31, 2016DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6 #7 #8 #9Grading $79,860 NAShared Wildflower Improvements $255,801 $319,751.25Grading $456,502 $570,627.50 $570,628100%Sanitary Sewer $227,849 $284,811.25 $213,60875%$71,20325%Watermain $224,251 $280,313.75 $210,23575%$70,07825%Streets (includes sidewalks/trails) $727,995 $909,993.75 $163,79918%$518,69675%$212,498Surface Water Facilities $225,248 $281,560.00 $140,78050%$70,39075%$70,390Erosion Control $27,970 $34,962.50$26,222Sidewalks/Trails NA NAIncluded in StreetsStreet Lighting NA NABy Xcel EnergyStreet Signs and Traffic Control Signs $3,600 $4,500.00$3,375 $1,125Landscaping $105,453 $131,816.25$98,862Tree Preservation and Restoration NA NAincluded in Erosion ControlWetland Mitigation and Buffers NA NALOC Through VBWDMonuments $4,600 $5,750.00$4,313 $1,438Miscellaneous Facilities NA NANoneRecord Drawings + PL$2,500 $3,125.00$2,344 $781TOTALS $2,005,968 $2,507,460.00RELEASED AMOUNTS:$728,423 $589,086 $570,628 $36,253 $141,281 $98,862 $286,232$484,208CUMMULATIVE AMOUNTS:$728,423 $1,317,509 $1,888,137 $1,924,390 $2,065,671 $2,164,533 $2,450,765SECURITY AMOUNT REMAINING:$1,779,037 $1,189,951 $619,323 $583,070 $441,789 $342,927 $56,695DATE:3/15/2016 8/2/2016 9/6/2016 12/19/2017 6/5/2018 11/20/20181/15/2019REDUCTIONSSite Grading Agrmt: Assumed ReplacedNever Received: Provided by Wildflower VILLAGE PRESERVE 2ND ADDITION Time of Performance: October 31, 2016DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6 #7 #8 #9Grading $60,786 $75,983 $75,983Sanitary Sewer $60,734 $75,918 $56,938Watermain $120,071 $150,089 $112,567Storm Sewer (w/pond structures) $41,671 $52,089 $26,044 $13,022 $13,022Streets $219,972 $274,965 $137,483 $68,741 $68,741Sidewalks/Trails $58,525 $73,156 $54,867Surface Water Facilities NA NAStreet Lighting $36,000 $45,000 $33,750 $11,250Street Signs and Traffic Control Signs $2,540 $3,175 $2,381 $794Private Utilities (electricity, natural gas, telephone, and cable)$0Landscaping $26,745 $33,431$25,073Tree Preservation and Restoration NA NAWetland Mitigation and Buffers NA NAMonuments $4,500 $5,625 $4,219 $1,406Erosion Control $18,525 $23,156 $17,367Miscellaneous Facilities NA NARecord Drawings $2,500 $3,125 $2,344 $781TOTALS $652,569 $815,712RELEASED AMOUNTS:$333,032 $75,983 $81,763 $114,928 $25,073 $95,995$184,932CUMMULATIVE AMOUNTS:$333,032 $409,014 $490,778 $605,706 $630,779 $726,774SECURITY AMOUNT REMAINING:$482,681 $406,698 $324,935 $210,007 $184,933 $88,939DATE: 2/21/2017 5/16/2017 10/17/2017 12/19/2017 11/20/2018 1/15/2019REDUCTIONS