HomeMy WebLinkAbout#07 - Inwood 1st and 3rd Addn Security Release STAFF REPORT
DATE: May 7, 2019
CONSENT
AGENDA ITEM: Inwood 1st, 2nd, and 3rd Additions – 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
Chad Isakson, Assistant City Engineer
ISSUE BEFORE COUNCIL: Should the City Council approve release of warranty security for public
sanitary sewer and watermain for the Inwood 1st, 2nd, and 3rd Additions?
PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to release the
development security in accordance with the development agreement for the Inwood 1st & 2nd Addition,
and the Inwood 3rd Addition. The public sanitary sewer and watermain was completed and accepted by the
City on March 21, 2017 and the 2-year warranty period was initiated. Twenty-five percent (25%) of the
original security for each project was retained through the 2-year warranty period for watermain and
sanitary sewer. A warranty walk-through was completed by City staff and all warranty punch list items
have since been addressed by the Developer. With the release of the 2-year warranty security for sanitary
sewer and watermain the overall development security may be reduced as follows:
Current Security Amount Proposed Security Amount
1. Inwood 1st & 2nd Additions: $1,412,589 $1,124,204
2. Inwood 3rd Addition: $1,030,896 $ 845,558
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,
approve the release of warranty security for public sanitary sewer and watermain in the Inwood 1st, 2nd,
and 3rd Additions resulting in a reduction in overall security as detailed in the respective worksheets. If
removed from the consent agenda, the recommended motion for the action is as follows:
“Move to approve the security reductions for the Inwood 1st, 2nd, and 3rd Additions as detailed in the
respective Security Reduction Worksheets”.
ATTACHMENTS:
1. Security Reduction Worksheet – Inwood 1st & 2nd Addition.
2. Security Reduction Worksheet – Inwood 3rd Addition.
INWOOD 1ST AND 2ND ADDITIONS Time of Performance: July 1, 2016DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading $314,000 NASanitary Sewer $412,585 $515,731.2575%$386,798 $128,933Watermain $510,249 $637,811.2575%$478,358 $159,453Streets $1,114,212 $1,392,765.0075%$696,383 $348,191Surface Water Facilities $599,736 $749,670.0075%$374,835 $187,418Erosion Control NA NAincluded in Grading AgreementSidewalks/Trails $212,175 $265,218.75 $132,609Street Lighting NA NABy Xcel EnergyStreet Signs and Traffic Control Signs $18,705 $23,381.25 $11,691Landscaping $97,236 $121,545.00Tree Preservation and Restoration NA NAincluded in Grading AgreementWetland Mitigation and Buffers NA NALOC Through VBWDMonuments $5,000 $6,250.00Miscellaneous Facilities NA NANoneRecord Drawings $2,000 $2,500.00TOTALS $2,971,898 $3,714,872.50RELEASED AMOUNTS:$2,080,674 $535,609$288,386 $0$0 $0CUMMULATIVE AMOUNTS:$2,080,674 $2,616,283 $2,904,669SECURITY AMOUNT REMAINING:$1,948,198 $1,412,589 $1,124,204DATE:3/21/2017 9/19/2017 5/7/2019REDUCTIONS
INWOOD 3RD ADDITION October 31, 2016DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading NA NAIncluded in Overall Grading AgreementSanitary Sewer $277,278 $346,597.75 $259,948 $86,649Watermain $315,803 $394,753.75 $296,065 $98,688Storm Sewer (w/pond structures) $254,543 $318,178.75 $159,089Streets $501,150 $626,437.50 $313,219Sidewalks/Trails $80,290 $100,362.50Surface Water Facilities NA NAincluded in Grading AgreementStreet Lighting $48,000 $60,000.00By Xcel EnergyStreet Signs and Traffic Control Signs $7,010 $8,762.50Private Utilities (electricity, natural gas, telephone, and cable)Landscaping $151,500 $189,375.00Tree Preservation and Restoration NA NAincluded in Grading AgreementWetland Mitigation and Buffers NA NALOC Through VBWDMonuments $6,800 $8,500.00Erosion Control NA NAincluded in Grading AgreementMiscellaneous Facilities NA NANoneRecord Drawings $5,000 $6,250.00TOTALS $1,647,374 $2,059,217.75RELEASED AMOUNTS:$1,028,322$185,338 $0$0 $0 $0CUMMULATIVE AMOUNTS:$1,028,322 $1,213,660SECURITY AMOUNT REMAINING:$1,030,896 $845,558DATE:3/21/2017 5/7/2019Time of Performance: REDUCTIONS