HomeMy WebLinkAbout#12 - Boulder Ponds 2nd Addition Security Release STAFF REPORT
DATE: July 6, 2021
CONSENT
AGENDA ITEM: Approve Release of Warranty Security for the Boulder Ponds 2nd Addition and Boulder Ponds 5th Street North Improvements
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 sanitary sewer, watermain, streets, storm sewer, sidewalks, trails, materials and equipment for the Boulder Ponds 2nd Addition and Boulder Ponds 5th Street North Improvements? PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to release the development security in accordance with the development agreement for the Boulder Ponds 2nd Addition and Boulder Ponds 5th Street North Improvements. The public improvements including public streets,
storm sewer facilities, sidewalks, trails, materials and equipment were completed and accepted by the City on June 16, 2020 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. Additionally the warranty period has expired for the Boulder Ponds 5th Street North public sanitary sewer and watermain and all warranty punchlist items have been addressed. With the release of the warranty security for public improvements the overall development security may be reduced as follows: Current Security Amount Proposed Security Amount
• Boulder Ponds 2nd Addition: $133,773 $67,500
• Boulder Ponds 5th Street North $213,173 $32,485
FISCAL IMPACT: Release of the warranty security brings the public improvements including public sanitary sewer, public watermain, 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 public sanitary sewer, public watermain, streets, storm sewer facilities, sidewalks, trails, materials and equipment in the Boulder Ponds 2nd Addition and Boulder Ponds 5th Street North Improvements, resulting in a reduction in overall security as detailed in the respective worksheets. If removed from the consent agenda, the recommended motion for the action is as follows:
“Move to approve the security reduction for the Boulder Ponds 2nd Addition and Boulder Ponds 5th Street North Improvements as detailed in the respective Security Reduction Worksheets.” ATTACHMENTS:
1. Security Reduction Worksheet – Boulder Ponds 2nd Addition.
2. Security Reduction Worksheet – Boulder Ponds 5th Street North.
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%$37,031 $12,344Streets $84,175 $105,21975%$78,914 $26,305Sidewalks/Trails $19,850 $24,81375%$18,609 $6,203Surface Water Facilities $13,000 $16,25075%$12,188 $4,063Street Lighting $12,000 $15,00075%$11,250 $3,750Street Signs and Traffic Control Signs $1,600 $2,00075%$1,500 $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%$938 $313Monuments $1,800 $2,25075%$1,688 $563Erosion Control $36,650 $45,81375%$34,359 $11,453Miscellaneous Facilities NA NARecord Drawings $2,500 $3,12575%$2,344 $781TOTALS $427,075 $533,844RELEASED AMOUNTS:$247,195 $26,250 $43,750 $82,875 $66,273CUMMULATIVE AMOUNTS:$247,195 $273,445 $317,195 $400,070 $466,344SECURITY AMOUNT REMAINING:$286,648 $260,398 $216,648 $133,773 $67,500DATE: 9/5/2017 10/1/2019 6/16/2020 6/16/20207/6/2021REDUCTIONS
BOULDER PONDS 5TH STREET NORTH Time of Performance: October 31, 2017DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading NA NAIncluded in Boulder Ponds 1st AdditionSanitary Sewer $46,600 $58,250 $43,688 $14,563Watermain $64,000 $80,000 $60,000 $20,000Storm Sewer (w/pond structures) $97,300 $121,625 $91,219 $30,406Streets $287,700 $359,625 $269,719 $89,906Sidewalks/Trails $71,000 $88,750 $66,563 $22,188Surface Water Facilities NA NAStreet Lighting NA NAStreet Signs and Traffic Control Signs $11,600 $14,500 $10,875 $3,625Private Utilities (electricity, natural gas, telephone, and cable)NALandscaping $100,753 $125,941 $93,456Tree Preservation and Restoration NA NAWetland Mitigation and Buffers NA NAMonuments NA NAErosion Control NA NAMiscellaneous Facilities NA NARecord Drawings NA NATOTALS $678,953 $848,691RELEASED AMOUNTS:$103,688 $360,938 $170,893 $180,688$212,173CUMMULATIVE AMOUNTS:$103,688 $464,625 $635,518$816,206SECURITY AMOUNT REMAINING:$745,004 $384,066 $213,173 $32,485DATE:2/21/2017 9/5/2017 7/17/2018 7/6/2021REDUCTIONS