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Home My WebLink About#11 - Security Reductions STAFF REPORT DATE: June 18, 2019 CONSENT AGENDA ITEM: Approve Development Security Warranty Release for Village Preserve 1st & 2nd Additions and Wildflower 1st Addition 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 the Village Preserve 1st & 2nd Additions and Wildflower 1st Addition? PROPOSAL DETAILS/ANALYSIS: Staff has received and processed requests to release the warranty security for the public improvements including street construction, concrete curb and gutter, storm sewer facilities, sidewalks, trails, materials and equipment for these three subdivisions. These requests have been reviewed and the following releases are being recommended for approval: Current Security Amount Proposed Security Amount 1. Village Preserve 1st Addition $ 56,695 $ 32,954 2. Village Preserve 2nd Addition $ 32,437 $ 8,359 3. Wildflower 1st Addition $ 779,290 $ 250,000 City staff completed on-site warranty walk throughs for the above. Issues or corrections identified from the walk throughs were communicated to the respective developer and all punch list items have been addressed to the satisfaction of City staff. Release of the full warranty security for each subdivision is recommended. FISCAL IMPACT: Release of the warranty security brings the public improvements including street construction, concrete curb and gutter, storm sewer facilities, sidewalks, trails, materials and equipment portion of these projects to a close. Only Landscaping Security remains for each of these developments. RECOMMENDATION: Staff is recommending that the City Council approve, as part of the Consent Agenda, the release of warranty security for public improvements for the Village Preserve 1st & 2nd Addition and the Wildflower 1st Addition as detailed in the attached worksheets. 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 improvements for the Village Preserve 1st & 2nd Additions and the Wildflower 1st Addition as detailed in the attached Security Reduction Worksheets.” ATTACHMENTS: 1. Village Preserve 1st Addition – Security Reduction Worksheet. 2. Village Preserve 2nd Addition – Security Reduction Worksheet. 3. Wildflower 1st Addition – Security Reduction Worksheet. VILLAGE PRESERVE 1ST ADDITION Time of Performance: October 31, 2016 DEVELOPMENT AGREEMENT AMOUNTS CATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6 #7 #8 Grading $79,860 NA Site Grading Agrmt: Assumed Replaced Shared Wildflower Improvements $255,801 $319,751.25 Never Received: Provided by Wildflower Grading $456,502 $570,627.50 $570,628 100% Sanitary Sewer $227,849 $284,811.25 $213,608 75%$71,203 25% Watermain $224,251 $280,313.75 $210,235 75%$70,078 25% Streets (includes sidewalks/trails) $727,995 $909,993.75 $163,799 18%$518,696 75%$212,498 $15,000 Surface Water Facilities $225,248 $281,560.00 $140,780 50%$70,390 75%$70,390 Erosion Control $27,970 $34,962.50 $26,222 $8,741 Sidewalks/Trails NA NA Included in Streets Street Lighting NA NA By Xcel Energy Street Signs and Traffic Control Signs $3,600 $4,500.00 $3,375 $1,125 Landscaping $105,453 $131,816.25 $98,862 Tree Preservation and Restoration NA NA included in Erosion Control Wetland Mitigation and Buffers NA NA LOC Through VBWD Monuments $4,600 $5,750.00 $4,313 $1,438 Miscellaneous Facilities NA NA None Record Drawings + PL $2,500 $3,125.00 $2,344 $781 TOTALS $2,005,968 $2,507,460.00 RELEASED AMOUNTS:$728,423 $589,086 $570,628 $36,253 $141,281 $98,862 $286,232 $23,741 $484,208 CUMMULATIVE AMOUNTS:$728,423 $1,317,509 $1,888,137 $1,924,390 $2,065,671 $2,164,533 $2,450,765 $2,474,506 SECURITY AMOUNT REMAINING:$1,779,037 $1,189,951 $619,323 $583,070 $441,789 $342,927 $56,695 $32,954 DATE:3/15/2016 8/2/2016 9/6/2016 12/19/2017 6/5/2018 11/20/2018 1/15/2019 6/18/2019 REDUCTIONS VILLAGE PRESERVE 2ND ADDITION Time of Performance: October 31, 2016 DEVELOPMENT AGREEMENT AMOUNTS CATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6 #7 #8 Grading $60,786 $75,983 $75,983 Sanitary Sewer $60,734 $75,918 $56,938 $18,979 Watermain $120,071 $150,089 $112,567 $37,522 Storm Sewer (w/pond structures) $41,671 $52,089 $26,044 $13,022 $13,022 Streets $219,972 $274,965 $137,483 $68,741 $68,741 Sidewalks/Trails $58,525 $73,156 $54,867 $18,289 Surface Water Facilities NA NA Street Lighting $36,000 $45,000 $33,750 $11,250 Street Signs and Traffic Control Signs $2,540 $3,175 $2,381 $794 Private Utilities (electricity, natural gas, telephone, and cable)$0 Landscaping $26,745 $33,431 $25,073 Tree Preservation and Restoration NA NA Wetland Mitigation and Buffers NA NA Monuments $4,500 $5,625 $4,219 $1,406 Erosion Control $18,525 $23,156 $17,367 $5,789 Miscellaneous Facilities NA NA Record Drawings $2,500 $3,125 $2,344 $781 TOTALS $652,569 $815,712 RELEASED AMOUNTS:$333,032 $75,983 $81,763 $114,928 $25,073 $95,995 $56,502 $24,078 $184,932 CUMMULATIVE AMOUNTS:$333,032 $409,014 $490,778 $605,706 $630,779 $726,774 $783,275 $807,353 SECURITY AMOUNT REMAINING:$482,681 $406,698 $324,935 $210,007 $184,933 $88,939 $32,437 $8,359 DATE: 2/21/2017 5/16/2017 10/17/2017 12/19/2017 11/20/2018 1/15/2019 3/5/2019 6/18/2019 REDUCTIONS WILDFLOWER AT LAKE ELMO 1ST ADDITION Time of Performance: November 30, 2016 DEVELOPMENT AGREEMENT AMOUNTS CATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6 #7 Grading $116,000 NA Covered by Site Grading Agreement $116,000 Sanitary Sewer $386,885 $483,606 100%$241,803 $120,902 $120,902 Watermain $472,052 $590,065 100%$295,033 $147,516 $147,516 Streets $916,819 $1,146,024 75%$274,539 $584,978 $286,506 Surface Water Facilities $509,946 $637,433 75%$318,716 $159,358 $159,358 Erosion Control NA NA Covered by Site Grading Agreement Sidewalks/Trails $220,838 $276,048 75%$207,036 $69,012 Street Lighting NA NA By Xcel Energy Street Signs and Traffic Control Signs $9,950 $12,438 75%$9,328 $3,109 Landscaping $200,000 $250,000 Tree Preservation and Restoration $23,675 $29,594 75%$22,195 $7,398 Wetland Mitigation and Buffers NA NA LOC Through VBWD Monuments $6,000 $7,500 75%$5,625 $1,875 Miscellaneous Facilities NA NA Record Drawings $6,500 $8,125 75%$6,094 $2,031 TOTALS $2,752,665 $3,440,831 RELEASED AMOUNTS:$116,000 $1,130,091 $268,418 $744,337 $250,278 $268,418 $529,290 CUMMULATIVE AMOUNTS:$116,000 $1,246,091 $1,514,509 $2,258,846 $2,509,123 $2,777,541 $3,306,831 SECURITY AMOUNT REMAINING:$3,440,831 $2,310,740 $2,042,322 $1,297,986 $1,047,708 $779,290 $250,000 DATE:10/29/2015 12/15/2015 2/16/2016 9/7/2016 12/5/2017 11/7/2018 6/18/2019 REDUCTIONS