HomeMy WebLinkAbout#16 - Hunters Crossing 1st Add Warranty Release STAFF REPORT
DATE: October 20, 2020
CONSENT
AGENDA ITEM: Approve Release of Warranty Security for Hunter’s Crossing 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 Hunter’s Crossing 1st Addition? PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to release the development security in accordance with the development agreement for the Hunter’s Crossing 1st Addition. The public improvements including streets, storm sewer facilities, sidewalks, trails, materials and equipment were completed and accepted by the City on February 5, 2019 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. With the release of the 1-year warranty security for public improvements the overall development security may be reduced as follows:
Current Security Amount Proposed Security Amount
• Hunter’s Crossing 1st Addition: $152,264 $0 FISCAL IMPACT: Release of the warranty security brings the public improvements including streets, storm sewer facilities, sidewalks, trails, materials and equipment to a close. The operation and maintenance of these facilities 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 improvements including streets, storm sewer facilities, sidewalks, trails, materials and equipment in the Hunter’s Crossing 1st Addition, resulting in a reduction in
overall security 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 security reductions for Hunter’s Crossing 1st Addition as detailed in the respective Security Reduction Worksheet.”
ATTACHMENTS:
1. Security Reduction Worksheet – Hunter’s Crossing 1st Addition.
HUNTERS CROSSING 1ST ADDITION Time of Performance: October 31, 2015DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading $425,402 $531,753100%$265,876 $265,876Sanitary Sewer $159,358 $199,198100%$99,599 $49,799 $49,799Watermain $170,647 $213,309100%$106,654 $53,327 $53,327Streets $198,143 $247,679100%$123,839 $61,920 $61,920Surface Water Facilities $172,258 $215,323100%$107,661 $53,831 $53,831Erosion Control $36,023 $45,029100%$22,514 $11,257 $11,257Sidewalks/Trails $31,120 $38,900100%$19,450 $9,725 $9,725Street Lighting NA NABy Xcel EnergyStreet Signs and Traffic Control Signs $3,263 $4,079100%$2,039 $1,020 $1,020Landscaping $53,162 $66,453100%$66,453Tree Preservation and Restoration NA NAWetland Mitigation and Buffers NA NALOC Through VBWDMonuments $1,980 $2,475100%$1,856 $619Pond Filtration $41,959 $52,449100%$39,337 $13,112Record Drawings $2,500 $3,125100%$2,344 $781TOTALS $1,295,815 $1,619,769RELEASED AMOUNTS:$725,119 $463,162 $169,579 $109,644 $152,264 $0$272,004CUMMULATIVE AMOUNTS:$725,119 $1,188,281 $1,357,860 $1,467,504 $1,619,769SECURITY AMOUNT REMAINING:$894,649 $431,488 $261,908 $152,264 $0DATE:12/15/2015 12/20/2016 1/2/2019 2/5/2019 10/20/2020REDUCTIONS