HomeMy WebLinkAbout#22 - Royal Golf 2nd Addition Security Reductions STAFF REPORT
DATE: December 17, 2019
CONSENT
ITEM #:
AGENDA ITEM: Accept Improvements and Approve Security Reduction for Royal Golf
Club 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 Royal Golf Club 2nd Addition?
PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to accept the
improvements and to reduce the development security for Royal Golf Club 2nd Addition. This request has
been reviewed and the following reduction is being recommended:
Current Security Amount Proposed Security Amount
1. Royal Golf Club 2nd Addition $ 1,362,611 $ 808,043
Royal Golf Club 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 December 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 Royal Golf Club 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 Royal Golf Club 2nd
Addition as detailed in the attached Security Reduction Worksheet”.
ATTACHMENTS:
1. Certificate of Completion – Royal Golf Club 2nd Addition.
2. Security Reduction Worksheet – Royal Golf Club 2nd Addition.
ROYAL GOLF CLUB 2ND ADDITION October 31, 2018
DEVELOPMENT AGREEMENT AMOUNTS
CATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6
Grading NA NA Included in Overall Grading Agreement
Sanitary Sewer $216,439 $270,549 $202,911
Watermain $514,590 $643,238 $482,428
Storm Sewer $409,749 $512,186 $256,093 $128,047 1‐YR Warranty ends
Streets and Sidewalks $998,255 $1,247,818 $623,909 $311,955 12/17/2020
Trails $72,670 $90,838 $68,128
Surface Water Facilities NA NA included in Grading Agreement
Street Lighting $30,000 $37,500 By Xcel Energy $28,125
Street Signs and Traffic Control Signs $4,235 $5,294 $3,970
Landscaping $324,500 $405,625 $304,219 2‐YR Warranty ends
Tree Preservation and Restoration NA NA included in Grading Agreement 11/5/2021
Wetland Mitigation and Buffers NA NA included in Grading Agreement
Monuments $7,300 $9,125 $6,844
Erosion Control NA NA included in Grading Agreement
Turn Lanes NA NA By County
Record Drawings $8,000 $10,000 $7,500
TOTALS $2,585,737 $3,232,172 RELEASED AMOUNTS:$685,340 $880,002 $304,219 $554,568 $0 $0
CUMMULATIVE AMOUNTS:$685,340 $1,565,342 $1,869,561 $2,424,129
SECURITY AMOUNT REMAINING:$2,546,832 $1,666,830 $1,362,611 $808,043
DATE: 1/15/2019 7/2/2019 11/5/2019 12/17/2019
Time of Performance:
REDUCTIONS