HomeMy WebLinkAbout#08 - Easton Village 2nd & 3rd Addition Security Reductions STAFF REPORT
DATE: February 4, 2020
CONSENT
AGENDA ITEM: Accept Improvements and Approve Security Reductions for the Easton
Village 2nd and 3rd Additions.
SUBMITTED BY: Jack Griffin, City Engineer
REVIEWED BY: Kristina Handt, City Administrator
Ken Roberts, Planning Director
Marty Powers, Public Works Director
ISSUE BEFORE COUNCIL: Should the City Council accept the improvements and approve security
reductions for the Easton Village 2nd and 3rd Additions?
PROPOSAL DETAILS/ANALYSIS: Staff has received and processed requests to accept the
improvements and to reduce the development security for the Easton Village 2nd and 3rd Additions. This
request has been reviewed and the following reduction is being recommended:
Current Security Amount Proposed Security Amount
1. Easton Village 2nd Addition: $ 371,223 $ 127,754
2. Easton Village 3rd Addition $ 627,894 $ 137,707
The Easton Village 2nd & 3rd Addition utility, street, and drainage improvements are now in the warranty
period per the attached Certificates of Completion. Twenty-five percent (25%) of the original security
amount will be retained until the warranty period has expired in February 2021 for street and drainage
improvements. The full security is being released for the public watermain and sanitary sewer with the
expiration of the 2-year utility warranty. The security reduction also reduces landscaping by 75% of the
original amount for Easton Village 2nd and 3rd Addition. The reduction is being processed at the direction
of the Planning Department based on acceptance of the improvements by the Landscape Architect.
FISCAL IMPACT: It is the City’s goal to retain at all times during the subdivision improvements a
security amount that is adequate to ensure completion of all elements of the improvements as protection to
the City tax payers against the potential of developer default.
RECOMMENDATION: Staff is recommending that the City Council, as part of the Consent Agenda,
accept the improvements and approve the security reductions for the Easton Village 2nd & 3rd Additions
as detailed in the respective worksheet. If removed from the consent agenda, the recommended motion for
the action is as follows:
“Move to accept the improvements and approve security reductions for the Easton Village 2nd & 3rd
Additions as detailed in the attached Security Reduction Worksheets”.
ATTACHMENTS:
1. Certificate of Completion – Easton Village 2nd Addition.
2. Certificate of Completion – Easton Village 3rd Addition.
3. Security Reduction Worksheet – Easton Village 2nd Addition.
4. Security Reduction Worksheet – Easton Village 3rd Addition.
EASTON VILLAGE 2ND ADDITION October 31, 2017DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading $238,969 $298,711.25100%$298,711Grading $38,286 $47,858100%$47,858Sanitary Sewer $54,276 $67,845100%$50,884 $16,961Watermain $60,848 $76,059100%$57,045 $19,015Storm Sewer $54,920 $68,65075%$34,325 $17,162Streets and Sidewalks $226,308 $282,88575%$141,443 $70,721Trails $12,570 $15,71375%$11,784Surface Water Facilities NA NAStreet Lighting $48,000 $60,00075%$45,000Street Signs and Traffic Control Signs $700 $87575%$656Private Utilities (electricity, natural gas, telephone, and cable)Landscaping $46,008 $57,51075%$43,133Tree Preservation and Restoration NA NAincluded in Grading AgreementWetland Mitigation and Buffers NA NALOC Through VBWDMonuments $1,900 $2,37575%$1,781Erosion Control $15,406 $19,25775%$14,443Misc. $0 $0NoneRecord Drawings $3,000 $3,75075%$2,813TOTALS $562,221 $702,776RELEASED AMOUNTS:$0 $331,553 $243,469CUMMULATIVE AMOUNTS:$0 $331,553 $575,022SECURITY AMOUNT REMAINING:$702,776 $371,223 $127,754DATE:10/17/2017 2/7/2018 2/4/2020Time of Performance: REDUCTIONS
EASTON VILLAGE 3RD ADDITION October 31, 2017DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading $196,245 $245,306100%$245,306Sanitary Sewer $118,179 $147,724100%$110,793 $36,931Watermain $128,435 $160,544100%$120,408 $40,136Storm Sewer $118,267 $147,83475%$110,876Streets and Sidewalks $157,590 $196,98875%$147,741Trails $14,600 $18,25075%$13,688Surface Water Facilities NA NAincluded in Grading AgreementStreet Lighting $12,000 $15,00075%$11,250Street Signs and Traffic Control Signs $1,850 $2,31375%$1,734Private Utilities (electricity, natural gas, telephone, and cable)Landscaping $98,573 $123,21675%$92,412Tree Preservation and Restoration NA NAincluded in Grading AgreementWetland Mitigation and Buffers NA NALOC Through VBWDMonuments $2,800 $3,50075%$2,625Erosion Control $29,982 $37,47775%$28,108Misc. NA NARecord Drawings $5,000 $6,25075%$4,688TOTALS $883,520 $1,104,400RELEASED AMOUNTS:$476,507 $490,187 $0 $0 $0 $0CUMMULATIVE AMOUNTS:$476,507 $966,694SECURITY AMOUNT REMAINING:$627,894 $137,707DATE:2/7/2018 2/4/2020Time of Performance: REDUCTIONS