HomeMy WebLinkAbout#08 - Security Reduction for Southwind STAFF REPORT
DATE: December 3, 2019
CONSENT
AGENDA ITEM: Accept Improvements and 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 accept the improvements and a approve security
reduction for Southwind at Lake Elmo?
PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to accept the
improvements and 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 $581,018 $432,917
The Southwind at Lake Elmo street and drainage improvements are now in the warranty period per the
attached Certificates of Completion. Twenty-five percent (25%) of the original security amount will be
retained until the warranty period has expired in December 2020 for street and drainage improvements.
FISCAL IMPACT: It is the City’s goal to retain at all times during the subdivision improvements a
security amount that is adequate to ensure completion of all elements of the improvements as protection to
the City tax payers against the potential of developer default.
RECOMMENDATION: Staff is recommending that the City Council, as part of the Consent Agenda,
accept the improvements and approve the security reduction for Southwind at Lake Elmo as detailed in the
attached worksheet. If removed from the consent agenda, the recommended motion for the action is as
follows:
“Move to accept improvements and approve the security reduction for Southwind at Lake Elmo as
detailed in the attached Security Reduction Worksheet”.
ATTACHMENTS:
1. Certificate of Completion – Southwind at Lake Elmo.
2. Security Reduction Worksheet – Southwind at Lake Elmo.
SOUTHWIND OF LAKE ELMO Time of Performance: October 31, 2018
DEVELOPMENT AGREEMENT AMOUNTS
CATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5
Grading 187,554$ $234,442 100%$234,442
Sanitary Sewer 117,757$ $147,196 100%$110,397 $36,799
Watermain 126,676$ $158,345 100%$118,759 $39,586
Storm Sewer (w/pond structures)217,173$ $271,466 75% 1‐yr warranty ends 12/3/2020 $135,733 $67,867
Streets + Sidewalks 545,215$ $681,518 75% 1‐yr warranty ends 12/3/2020 $340,759 $170,380
Bituminous Trails 32,525$ $40,656 75% 1‐yr warranty ends 12/3/2020 $30,492
Surface Water Facilities 35,185$ $43,981 75% 1‐yr warranty ends 12/3/2020 $32,985
Street Lighting 48,000$ $60,000 75% 1‐yr warranty ends 12/3/2020 $45,000
Street Signs and Traffic Control Signs 7,400$ $9,250 75% 1‐yr warranty ends 12/3/2020 $6,938
Private Utilities (electricity, natural gas, telephone, and cable)
Landscaping $225,042 $281,303 48%$136,000
Tree Preservation and Restoration NA NA
Wetland Mitigation and Buffers NA NA
Monuments 4,600$ $5,750 75% 1‐yr warranty ends 12/3/2020 $4,313
Erosion Control 25,265$ $31,582 75% 1‐yr warranty ends 12/3/2020 $23,686
5TH Street North Included Included
Record Drawings 5,000$ $6,250 75% 1‐yr warranty ends 12/3/2020 $4,688
TOTALS $1,577,391 $1,971,740 RELEASED AMOUNTS:$705,649 $302,309 $170,380 $212,385 $148,101
CUMMULATIVE AMOUNTS:$705,649 $1,007,957 $1,178,337 $1,390,722 $1,538,823
SECURITY AMOUNT REMAINING:$1,266,091 $963,783 $793,403 $581,018 $432,917
DATE:1/16/2018 9/18/2018 1/15/2019 11/5/2019 12/3/2019
REDUCTIONS