HomeMy WebLinkAbout#15 - Boulder Ponds 2nd Security Release STAFF REPORT
DATE: June 16, 2020
CONSENT
AGENDA ITEM: Accept Improvements and Approve Security Reduction for the Boulder Ponds
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 accept the improvements and a approve security
reduction for the Boulder Ponds 2nd Addition?
PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to accept the
improvements and to reduce the development security for the Boulder Ponds 2nd Addition. This request
has been reviewed and the following reduction is being recommended:
Current Security Amount Proposed Security Amount
1. Boulder Ponds 2nd Add. $216,648 $133,773
The Boulder Ponds 2nd Addition street and drainage improvements are now in the warranty period per the
attached Certificate of Completion. Twenty-five percent (25%) of the original security amount will be
retained until the warranty period expires on June 16, 2021 for street and drainage improvements.
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 reduction for the Boulder Ponds 2nd Addition as detailed
in the attached worksheet. If removed from the consent agenda, the recommended motion for the action is
as follows:
“Move to accept improvements and approve the security reduction for the Boulder Ponds 2nd Addition
as detailed in the attached Security Reduction Worksheet”.
ATTACHMENTS:
1. Certificate of Completion – Boulder Ponds 2nd Addition.
2. Security Reduction Worksheet – Boulder Ponds 2nd Addition.
BOULDER PONDS 2ND ADDITION Time of Performance: October 31, 2016DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading NA NAIncluded in Boulder Ponds 1st AdditionSanitary Sewer $73,000 $91,250100%$68,438 $22,813Watermain $67,000 $83,750100%$62,813 $20,938Storm Sewer (w/pond structures) $39,500 $49,37575%$37,031Streets $84,175 $105,21975%$78,914Sidewalks/Trails $19,850 $24,81375%$18,609Surface Water Facilities $13,000 $16,25075%$12,188Street Lighting $12,000 $15,00075%$11,250Street Signs and Traffic Control Signs $1,600 $2,00075%$1,500Private Utilities (electricity, natural gas, telephone, and cable)Landscaping $75,000 $93,75028%$26,250Tree Preservation and Restoration NA NAWetland Mitigation and Buffers $1,000 $1,25075%$938Monuments $1,800 $2,25075%$1,688Erosion Control $36,650 $45,81375%$34,359Miscellaneous Facilities NA NARecord Drawings $2,500 $3,12575%$2,344TOTALS $427,075 $533,844RELEASED AMOUNTS:$247,195 $26,250 $43,750 $82,875 $0 $0CUMMULATIVE AMOUNTS:$247,195 $273,445 $317,195 $400,070SECURITY AMOUNT REMAINING:$286,648 $260,398 $216,648 $133,773DATE: 9/5/2017 10/1/2019 6/16/2020 6/16/2020REDUCTIONS