HomeMy WebLinkAbout#21 - Lake Elmo Senior Living Security ReductionDATE: November 16, 2021
CONSENT
AGENDA ITEM: Accept Improvements and Approve Security Reductions for Lake Elmo Senior Living (Independent Living).
SUBMITTED BY: Jack Griffin, City Engineer REVIEWED BY: Kristina Handt, City Administrator Molly Just, Planning Director Marty Powers, Public Works Director Sam Magureanu, Finance Director Chad Isakson, Assistant City Engineer
ISSUE BEFORE COUNCIL: Should the City Council accept the improvements and approve security reductions for the Lake Elmo Senior Living (Independent Living)?
PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to accept the improvements and reduce the security for the Lake Elmo Senior Living. This request has been reviewed and is being recommended for approval in accordance with the approved Site Improvement Agreement. The Site Improvement Security amount is recommended to be reduced as follows:
Current Security Amount Proposed Security Amount 1. Lake Elmo Senior Living $ 252,300 $ 135,989 The Lake Elmo Senior Living (Independent Living) is in the warranty period as identified on the attached Certificate of Completion. Twenty-five percent (25%) of the original security amount will be retained until the warranty period has expired on February 2, 2023 for public sewer and water and November 16, 2022 for street construction. Landscaping security has also been reduced to twenty-five percent (25%) of the original security amount per direction from the Planning Director. 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 as detailed in the attached worksheet for the Lake Elmo Senior Living (Independent Living), contingent on the developer being current with all other payments and obligations in accordance with the Site Improvement Agreement, including a positive escrow
balance as required by the City. If removed from the consent agenda, the recommended motion for the action is as follows:
“Move to accept the improvements and approve the security reductions as detailed in the attached
worksheet for the Lake Elmo Senior Living (Independent Living), contingent on the developer being current with all other payments and obligations in accordance with the Site Improvement Agreement, including a positive escrow balance as required by the City”.
ATTACHMENTS:
1. Certificate of Completion – Lake Elmo Senior Living (Independent Living).
2. Security Reduction Worksheet – Lake Elmo Senior Living (Independent Living).
CERTIFICATE OF COMPLETION
DATE OF ISSUANCE: NOVEMBER 16, 2021
OWNER: CITY OF LAKE ELMO, MN
DEVELOPER: LAKE ELMO INDEPENDENT LIVING, LLC
SUBDIVISION
NAME:
LAKE ELMO INDEPENDENT LIVING, LLC (39TH STREET)
PROJECT NO.: 2019.117
This Certification of Completion applies to all work under the Site Improvement Agreement
This Certification of Completion applies to the following specified parts of the Site Improvement
Agreement
Section 29.A – Public sewer and water
Section 29.B – Street construction, including the repairs to 39th Street and concrete curb and
gutter
I do hereby certify that the work to which this Certificate applies has been constructed in accordance
with the Site Improvement Agreement dated April 9, 2020. The above-mentioned improvement is
hereby declared to be complete and acceptance of this work is recommended.
DATE OF COMPLETION: November 16, 2021
Chad Isakson Reg. No. 49028
FOCUS Engineering, inc.
Section 29.A Warranty Period Begins
Section 29.B Warranty Period Begins
February 2, 2021
November 16, 2021
and ends
and ends
February 2, 2023
November 16, 2022
LAKE ELMO SENIOR LIVING Time of Performance: October 31, 2021DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading $205,000 $256,250100%$256,250Sanitary Sewer $99,700 $124,62575%$62,313 $31,156Watermain $115,000 $143,75075%$71,875 $35,938Storm Sewer (w/pond structures) $134,600 $168,25075%$84,125 $42,063Street and Trail Cut at Entrance$10,000 $12,50075%$6,250 $3,125Bituminous Trails NA NASurface Water Facilities NA NAStreet Lighting NA NAStreet Signs and Traffic Control Signs NA NAPrivate Utilities (electricity, natural gas, telepNA NALandscaping $46,865 $58,581 $43,936Tree Preservation and Restoration NA NAWetland Mitigation and Buffers NA NAMonuments $1,000 $1,25075%$938Erosion Control $20,000 $25,00075%$18,750Record Drawings $8,000 $10,00075%$7,500TOTALS $640,165 $800,206RELEASED AMOUNTS:$224,563 $67,094 $256,250 $116,311CUMMULATIVE AMOUNTS:$224,563 $291,656 $547,906 $664,217SECURITY AMOUNT REMAINING:$575,644 $508,550 $252,300 $135,989DATE: 1/19/2021 2/2/2021 9/7/2021 11/16/2021REDUCTIONS