HomeMy WebLinkAbout#12 - Southwind Security Reduction STAFF REPORT
DATE: November 5, 2019
CONSENT
AGENDA ITEM: Approve Security Reduction for Southwind at Lake Elmo.
SUBMITTED BY: Jack Griffin, City Engineer
REVIEWED BY: Kristina Handt, City Administrator Ken Roberts, Planning Director
Marty Powers, Public Works Director
Chad Isakson, Assistant City Engineer
ISSUE BEFORE COUNCIL: Should the City Council approve a security reduction for Southwind at
Lake Elmo?
PROPOSAL DETAILS/ANALYSIS: Staff has received and processed requests to reduce the
development security for Southwind at Lake Elmo. This request has been reviewed and the following
reduction is being recommended:
Current Security Amount Proposed Security Amount
1. Southwind at Lake Elmo $793,403 $581,018
The Southwind at Lake Elmo 2-year warranty period for the watermain and sanitary sewer has ended and
all warranty corrections have been completed by the developer. The twenty-five percent (25%) warranty
security is therefore recommended for release. In addition, a landscaping improvement inspection was
completed and partial reduction in landscape security is recommended in accordance with the inspection
findings.
FISCAL IMPACT: It is the City’s goal to retain at all times during the subdivision improvements a
security amount that is adequate to ensure completion of all elements of the improvements as protection to
the City tax payers against the potential of developer default.
RECOMMENDATION: Staff is recommending that the City Council, as part of the Consent Agenda,
approve the security reduction for Southwind at Lake Elmo as detailed in the attached worksheet. If
removed from the consent agenda, the recommended motion for the action is as follows:
“Move to approve the security reduction for Southwind at Lake Elmo as detailed in the attached
Security Reduction Worksheet”.
ATTACHMENTS:
1. Security Reduction Worksheet – Southwind at Lake Elmo.
SOUTHWIND OF LAKE ELMO Time of Performance: October 31, 2018
DEVELOPMENT AGREEMENT AMOUNTS
CATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6
Grading 187,554$ $234,442 100%$234,442
Sanitary Sewer 117,757$ $147,196 100%$110,397 $36,799 2‐year Warranty end
Watermain 126,676$ $158,345 100%$118,759 $39,586 2‐year Warranty end
Storm Sewer (w/pond structures)217,173$ $271,466 $135,733 $67,867
Streets + Sidewalks 545,215$ $681,518 $340,759 $170,380
Bituminous Trails 32,525$ $40,656
Surface Water Facilities 35,185$ $43,981
Street Lighting 48,000$ $60,000
Street Signs and Traffic Control Signs 7,400$ $9,250
Private Utilities (electricity, natural gas, telephone, and cable)
Landscaping $225,042 $281,303 48%$136,000 partial release
Tree Preservation and Restoration NA NA
Wetland Mitigation and Buffers NA NA
Monuments 4,600$ $5,750
Erosion Control 25,265$ $31,582
5TH Street North Included Included
Record Drawings 5,000$ $6,250
TOTALS $1,577,391 $1,971,740 RELEASED AMOUNTS:$705,649 $302,309 $170,380 $212,385
CUMMULATIVE AMOUNTS:$705,649 $1,007,957 $1,178,337 $1,390,722
SECURITY AMOUNT REMAINING:$1,266,091 $963,783 $793,403 $581,018
DATE:1/16/2018 9/18/2018 1/15/2019 11/5/2019
REDUCTIONS