HomeMy WebLinkAbout#05 - Royal Golf Warranty Security Release STAFF REPORT
DATE: August 4, 2021
CONSENT
AGENDA ITEM: Approve Release of Warranty Security for Royal Golf Club Site 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 and watermain for the Royal Golf Club Site Improvements?
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 Site Improvements. The public improvements including sanitary sewer and watermain were completed and accepted by the City on July 2, 2019 and the 2-year warranty period was initiated. Twenty-five percent (25%) of the original security was retained through the 2-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 2-year warranty security for public improvements the overall development security may be reduced as follows: Current Security Amount Proposed Security Amount
• Royal Golf Club Site Improvements: $367,198 $0 This completes all work and security releases for the Royal Golf Club Site Improvements. FISCAL IMPACT: Release of the warranty security brings the public improvements 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 sanitary sewer and watermain in the Royal Golf Club Site Improvements resulting in a reduction in overall security as detailed in the attached 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 Site Improvements as detailed in the attached Security Reduction Worksheet.” ATTACHMENTS:
1. Security Reduction Worksheet – Royal Golf Club Site Improvements.
ROYAL GOLF CLUB 20TH STREET WM/SITE UTILITIES November 30, 2017DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3Sanitary Sewer $274,054 $342,56875%$256,926 $85,642Watermain $900,983 $1,126,22975%$844,672 $281,557Storm Sewer $28,706 $35,883100%$26,912 $8,971Streets and Sidewalks $76,700 $95,875100%$71,906 $23,969Trails $70,000 $87,500100%$65,625 $21,875TOTALS $1,350,443 $1,688,053RELEASED AMOUNTS:$1,266,040 $54,814 $367,199CUMMULATIVE AMOUNTS:$1,266,040 $1,320,855 $1,688,053SECURITY AMOUNT REMAINING:$422,012 $367,198 $0DATE: 7/2/2019 10/6/20208/4/2021Time of Performance: REDUCTIONS