HomeMy WebLinkAbout#03 - Wildflower 2nd Security Reduction STAFF REPORT
DATE: December 1, 2020
CONSENT
AGENDA ITEM: Approve Release of Warranty Security for Wildflower 2nd Addition.
SUBMITTED BY: Jack Griffin, City Engineer
REVIEWED BY: Kristina Handt, City Administrator Ken Roberts, Planning Director
Marty Powers, Public Works 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
Wildflower 2nd Addition?
PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to release the
development security in accordance with the development agreement for Wildflower 2nd Addition. The
public improvements including streets, storm sewer facilities, sidewalks, trails, materials and equipment
were completed and accepted by the City on November 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
1. Wildflower 2nd Add. $194,482 $50,625
Remaining security is for the landscaping improvements in the development.
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 Wildflower 2nd 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 Wildflower 2nd Addition as detailed in the respective
Security Reduction Worksheet”.
ATTACHMENTS:
1. Security Reduction Worksheet – Wildflower 2nd Addition.
WILDFLOWER AT LAKE ELMO 2ND ADDITION Time of Performance: October 31, 2017DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Sanitary Sewer $71,020 $88,774 $66,581 $22,194Watermain $81,280 $101,600 $76,200 $25,400Streets & Sidewalks $242,331 $302,914 $151,457 $75,729 $75,729Surface Water Facilities $52,912 $66,140 $33,070 $16,535 $16,535Erosion Control $16,533 $20,666 $15,500 $5,167Trails $3,257 $4,071 $3,053 $1,018Street Lighting $18,000 $22,500By Xcel Energy$16,875 $5,625Street Signs and Traffic Control Signs $5,310 $6,638 $4,978 $1,659Landscaping $40,500 $50,625Tree Preservation and Restoration NA NAWetland Mitigation and Buffers NA NAMonuments $2,000 $2,500 $1,875 $625Private Utilities $115,000 $143,750 $107,813 $35,938Record Drawings $5,000 $6,250 $4,688 $1,563TOTALS $653,143 $816,429RELEASED AMOUNTS:$327,308 $247,045 $47,594 $143,857 $0 $0Incorrect original amount $787,239CUMMULATIVE AMOUNTS:$327,308 $574,353 $621,946 $765,804SECURITY AMOUNT REMAINING:$489,121 $242,076 $194,482 $50,625DATE:12/5/2017 11/5/2019 12/17/2019 12/1/2020REDUCTIONS