HomeMy WebLinkAbout#09 - Royal Golf 1st Addn Security Release STAFF REPORT
DATE: October 6, 2020
CONSENT
AGENDA ITEM: Approve Release of Warranty Security for Royal Golf Club 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 Royal
Golf Club 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 Royal Golf Club 1st Addition.
The public improvements including streets, storm sewer facilities, sidewalks, trails, materials and
equipment were completed and accepted by the City on July 2, 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. 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
• Royal Golf Club 1st Addition: $892,597 $341,371
Remaining security is for the sanitary sewer and watermain warranty period which expires on July 2, 2021.
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.
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 Royal Golf Club 1st Addition, and release of the remaining
landscape security, 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 Royal Golf Club 1st Addition as detailed in the respective
Security Reduction Worksheet.”
ATTACHMENTS:
1. Security Reduction Worksheet – Royal Golf Club 1st Addition.
ROYAL GOLF CLUB 1ST ADDITION October 31, 2018DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4Grading NA NAIncluded in Overall Grading AgreementSanitary Sewer $723,897 $904,87175%$452,436 $226,218Watermain $368,489 $460,61175%$230,306 $115,153Storm Sewer $429,087 $536,35975%$268,179 $134,090 $134,090Streets and Sidewalks $872,121 $1,090,15175%$545,076 $272,538 $272,538Trails $76,050 $95,063 $71,297 $23,766Surface Water Facilities NA NAincluded in Grading AgreementStreet Lighting $36,000 $45,000By Xcel Energy$33,750 $11,250Street Signs and Traffic Control Signs $11,404 $14,254 $10,691 $3,564Landscaping $249,083 $311,354 $233,515 $77,838.44Tree Preservation and Restoration NA NAincluded in Grading AgreementWetland Mitigation and Buffers NA NAincluded in Grading AgreementMonuments $7,300 $9,125 $6,844 $2,281Erosion Control $71,880 $89,850 $67,388 $22,463Turn Lanes NA NAincluded in Streets & SidewalksRecord Drawings $11,000 $13,750 $10,313 $3,438TOTALS $2,856,310 $3,570,388RELEASED AMOUNTS:$1,495,996 $233,515 $948,279 $551,226CUMMULATIVE AMOUNTS:$1,495,996 $1,729,511 $2,677,791 $3,229,017SECURITY AMOUNT REMAINING:$2,074,392 $1,840,876 $892,597 $341,371DATE: 1/16/2018 3/5/2019 7/2/201910/6/2020Time of Performance: REDUCTIONS