HomeMy WebLinkAbout#13 - Wildflower 2nd Addition Security Reduction STAFF REPORT
DATE: November 5, 2019
CONSENT
ITEM #:
AGENDA ITEM: Accept Improvements and Approve Security Reduction for Wildflower
2nd Addition.
SUBMITTED BY: Jack Griffin, City Engineer
REVIEWED BY: Kristina Handt, City Administrator
Ken Roberts, Planning Director
Marty Powers, Public Works Director
ISSUE BEFORE COUNCIL: Should the City Council accept the improvements and a approve security
reduction for Wildflower 2nd Addition?
PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to accept the
improvements and to reduce the development security for Wildflower 2nd Addition. This request has been
reviewed and the following reduction is being recommended:
Current Security Amount Proposed Security Amount
1. Wildflower 2nd Addition $ 489,121 $ 242,076
Wildflower 2nd Addition street and drainage improvements are now in the warranty period per the attached
Certificates of Completion. Twenty-five percent (25%) of the original security amount will be retained until
the warranty period has expired in November 2020 for street and drainage improvements.
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,
accept the improvements and approve the security reduction for Wildflower 2nd Addition as detailed in the
respective worksheet. If removed from the consent agenda, the recommended motion for the action is as
follows:
“Move to accept the improvements and approve security reduction for the Wildflower 2nd Addition as
detailed in the attached Security Reduction Worksheet”.
ATTACHMENTS:
1. Certificate of Completion – Wildflower 2nd Addition.
2. Security Reduction Worksheet – Wildflower 2nd Addition.
WILDFLOWER AT LAKE ELMO 2ND ADDITION Time of Performance: October 31, 2017
DEVELOPMENT AGREEMENT AMOUNTS
CATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6
Sanitary Sewer $71,020 $88,774 $66,581
Watermain $81,280 $101,600 $76,200
Streets & Sidewalks $242,331 $302,914 $151,457 $75,729
Surface Water Facilities $52,912 $66,140 $33,070 $16,535
Erosion Control $16,533 $20,666 $15,500
Trails $3,257 $4,071 $3,053
Street Lighting $18,000 $22,500 By Xcel Energy $16,875
Street Signs and Traffic Control Signs $5,310 $6,638 $4,978
Landscaping $40,500 $50,625
Tree Preservation and Restoration NA NA
Wetland Mitigation and Buffers NA NA
Monuments $2,000 $2,500 $1,875
Private Utilities $115,000 $143,750 $107,813
Record Drawings $5,000 $6,250 $4,688
TOTALS $653,143 $816,429 RELEASED AMOUNTS:$327,308 $247,045 $0 $0 $0 $0
Incorrect original amount $787,239 CUMMULATIVE AMOUNTS:$327,308 $574,353
SECURITY AMOUNT REMAINING:$489,121 $242,076
DATE:12/5/2017 11/5/2019
REDUCTIONS