HomeMy WebLinkAbout#07 - Village Preserve 2nd Security Release STAFF REPORT
DATE: March 5, 2019
CONSENT
ITEM #:
AGENDA ITEM: Village Preserve 2nd Addition – Approve Release of Warranty Security for Public
Sanitary Sewer and Watermain
SUBMITTED BY: Jack Griffin, City Engineer
REVIEWED BY: Kristina Handt, City Administrator Ken Roberts, Planning Director
ISSUE BEFORE COUNCIL: Should the City Council approve release of warranty security for public
sanitary sewer and watermain for the Village Preserve 2nd Addition development?
PROPOSAL DETAILS/ANALYSIS: The public sanitary sewer and watermain in the Village Preserve
2nd Addition development was completed and accepted by the City on February 21, 2017 and the 2-year
warranty period was initiated. A security in the amount of 25% of the original security ($56,502) was
retained for the warranty period.
Staff has received and processed a request to release the warranty security for the public sanitary sewer and
watermain in Village Preserve 2nd Addition. A warranty walk-through was completed by City staff in
October 2018 and all warranty items have since been addressed by the Developer. Release of the current
security amount of $56,502 is recommended.
FISCAL IMPACT: Release of the warranty security brings the public sanitary sewer and watermain
portion of the project to a close. The operation and maintenance of the sanitary sewer and watermain
becomes the responsibility of the City going forward.
RECOMMENDATION: Staff is recommending that the City Council, as part of the Consent Agenda, to
approve the release of warranty security for public sanitary sewer and watermain in the Village Preserve
2nd Addition development as detailed in the respective worksheet. If removed from the consent agenda, the
recommended motion for the action is as follows:
“Move to approve the release of warranty security for public sanitary sewer and watermain in the
Village Preserve 2nd Addition development as detailed in the respective Security Reduction Worksheet”.
ATTACHMENTS:
1. Security Reduction Worksheet – Village Preserve 2nd Addition.
VILLAGE PRESERVE 2ND ADDITION Time of Performance: October 31, 2016DEVELOPMENT AGREEMENT AMOUNTSCATEGORYCONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6 #7 #8 #9Grading $60,786 $75,983 $75,983Sanitary Sewer $60,734 $75,918 $56,938 $18,979Watermain $120,071 $150,089 $112,567 $37,522Storm 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 $56,502$184,932CUMMULATIVE AMOUNTS:$333,032 $409,014 $490,778 $605,706 $630,779 $726,774 $783,275SECURITY AMOUNT REMAINING:$482,681 $406,698 $324,935 $210,007 $184,933 $88,939 $32,437DATE: 2/21/2017 5/16/2017 10/17/2017 12/19/2017 11/20/2018 1/15/2019 3/5/2019#8 LOC Reduction: Will be processed upon full completion of all PL itmes, less Landscaping#9 LOC Reduction: Will be processed upon Landscaping warranty expiration & completion of all warranty PL itmesREDUCTIONS