HomeMy WebLinkAbout#13 - Easton Village 1st Add Security Reduction STAFF REPORT
DATE: January 7, 2020
CONSENT
AGENDA ITEM: Approve Release of Warranty Security for Easton Village 1st Addition SUBMITTED BY: Jack Griffin, City Engineer REVIEWED BY: Kristina Handt, City Administrator Marty Powers, Public Works Director Ken Roberts, Planning Director Chad Isakson, Assistant City Engineer
ISSUE BEFORE COUNCIL: Should the City Council approve release of warranty security for public improvements including streets, storm sewer facilities, sidewalks, trails, materials and equipment for Easton Village 1st Addition and release the remaining landscaping security? PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to release the development security in accordance with the development agreement for the Easton Village 1st Addition. The public improvements including streets, storm sewer facilities, sidewalks, trails, materials and equipment were completed and accepted by the City on May 15, 2018 and the 1-year warranty period was initiated. Twenty-five percent (25%) of the original security was retained through the 1-year warranty period. A warranty walk-through has been completed by City staff and all warranty punch list items have since been addressed by the Developer. In addition, the landscaping improvements have been completed and the 2-year warranty has expired. With the release of the 1-year warranty security for public improvements and the landscaping security the overall development security may be reduced as follows:
Current Security Amount Proposed Security Amount
• Easton Village 1st Addition: $585,131 $0 Although the development improvements have been addressed in accordance with the development agreement there exist Special Provisions within the Development Agreement that have not been fully addressed. Staff is therefore recommending that the approval to reduce the security amount per this agenda report be contingent upon the following two conditions:
1. That the developer/applicant provide the City with a cash escrow sufficient to ensure the removal of the temporary road access to Manning Avenue. The Development Agreement currently requires
a cash escrow in the amount of $27,870, however, this amount is not deemed sufficient to cover the costs to complete this work. City staff is therefore recommending that a new cost estimate be prepared and is recommending the cash escrow be obtained in the updated amount.
2. That the developer provide the City with all property easements, permanent and temporary, required by the City to construct the Village Parkway UPRR Crossing Improvements. Section 30.C. of the Development Agreement requires the Developer to provide all property in fee and/or easements as required by the City necessary to establish the railroad crossing. FISCAL IMPACT: Release of the warranty security brings the public improvements including streets, storm sewer facilities, sidewalks, trails, materials and equipment, and landscaping to a close. The operation and maintenance of these facilities becomes the responsibility of the City going forward. The developer remains obligated by the Development Agreement provisions to remove the temporary access to Manning
Avenue at developer’s full cost and to provide easements as necessary for the City to establish the UPRR
crossing for Village Parkway. RECOMMENDATION: Staff is recommending that the City Council, as part of the Consent Agenda,
approve the release of warranty security for public improvements including streets, storm sewer facilities, sidewalks, trails, materials and equipment in the Easton Village 1st Addition, and release of the remaining landscape security, resulting in a reduction in overall security as detailed in the respective worksheet; with
said release to be contingent upon the two conditions outlined within this report. If removed from the consent agenda, the recommended motion for the action is as follows:
“Move to approve the security reductions for Easton Village 1st Addition as detailed in the respective Security Reduction Worksheet, contingent upon the two conditions outlined within this report”. ATTACHMENTS:
1. Security Reduction Worksheet – Easton Village 1st Addition.
EASTON VILLAGE 1ST ADDITION Time of Performance: June 30, 2016DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading $728,739 $910,924100%$910,924Sanitary Sewer $293,960 $367,450100%$275,588 $91,863Watermain $303,289 $379,111100%$284,333 $94,778Storm Sewer (w/pond structures) $585,943 $732,429100%$366,214 $183,107 $183,107Streets $526,489 $658,111100%$329,056 $164,528 $164,528Sidewalks/Trails $98,777 $123,471100%$61,736 $30,868 $30,868Surface Water Facilities NA NAStreet Lighting NA NAStreet Signs and Traffic Control Signs $5,600 $7,000100%$5,250 $1,750Private Utilities (electricity, natural gas, telephone, and cable)NALandscaping $110,781 $138,47650%$69,238 $69,238Tree Preservation and Restoration $164,435 $205,54450%$102,772 $102,772Wetland Mitigation and Buffers NA NAMonuments $30,000 $37,500100%$28,125 $9,375Erosion Control $68,678 $85,848100%$64,386 $21,462Miscellaneous Facilities NA NARecord Drawings $6,500 $8,125100%$6,094 $2,031TOTALS $2,923,191 $3,653,989RELEASED AMOUNTS:$559,921 $1,845,189 $477,107 $186,640 $585,131$685,766CUMMULATIVE AMOUNTS:$559,921 $2,405,110 $2,882,218 $3,068,858 $3,653,989SECURITY AMOUNT REMAINING:$3,094,068 $1,248,878 $771,771 $585,131 $0DATE:8/2/2016 12/20/2016 5/15/2018 1/2/2019 1/7/2020REDUCTIONS