HomeMy WebLinkAbout#06 - Hammes Estates 1st & 2nd Security Release STAFF REPORT
DATE: November 15, 2022
CONSENT
AGENDA ITEM: Approve Release of Warranty Security for Public Improvements and Landscaping for Hammes Estates 1st and 2nd Addition.
SUBMITTED BY: Jack Griffin, City Engineer
REVIEWED BY: Kristina Handt, City Administrator Marty Powers, Public Works Director Molly Just, Planning Director
Chad Isakson, Assistant City Engineer
ISSUE BEFORE COUNCIL: Should the City Council approve release of warranty security for public improvements and landscaping for Hammes Estates 1st and 2nd Addition? PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to release the
development security for Hammes Estates 1st and 2nd Addition. The 1-year warranty period for the public improvements including street construction, concrete curb and gutter, sidewalks and trails, materials and equipment began on November 17, 2020. Twenty-five percent (25%) of the original security was retained
through the 1-year warranty period. The 2-year warranty period for Hammes Estates 2nd Addition watermain and sanitary sewer period expired on November 20, 2020. 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 landscaping security is proposed to be released per the planning director’s recommendation as all work is completed per the development agreement. With the release of the 1-year warranty security for public street improvements, 2-year warranty security for sanitary sewer and watermain, and landscaping warranty security the overall development security may be released in full. Current Security Amount Proposed Security Amount 1. Hammes Estates 1st Addition: $750,901 $0 2. Hammes Estates 2nd Addition: $272,937 $0
FISCAL IMPACT: Release of the warranty security closes out the development. The operation and maintenance of the public 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 street, sanitary sewer, watermain, and landscaping in
Hammes Estates 1st and 2nd Addition, resulting in a full release of all remaining securities. The release of security is contingent on the developer being current with all other payments and obligations in accordance with the Development 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 approve the security release for the Hammes Estates 1st and 2nd Addition as detailed in the respective Security Reduction Worksheets, contingent on the developer being current with all other payments and obligations in accordance with the Development Agreement, including a positive escrow balance as required by the City” ATTACHMENTS: 1. Security Reduction Worksheet – Hammes Estates 1st Addition.
2. Security Reduction Worksheet – Hammes Estates 2nd Addition.
HAMMES 1ST ADDITION Time of Performance: October 31, 2017DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading $156,000 $195,000$195,000Sanitary Sewer $413,076 $516,345 $387,259 $129,086Watermain $298,624 $373,280 $279,960 $93,320Storm Sewer (w/pond structures) $492,748 $615,935 $461,951 $153,984Streets $430,598 $538,247 $403,685 $134,562Sidewalks/Trails $111,360 $139,200 $104,400 $34,800Surface Water Facilities NA NAStreet Lighting $54,000 $67,500 $50,625 $16,875Street Signs and Traffic Control Signs $6,300 $7,875 $5,906 $1,969Private Utilities (electricity, natural gas, telephone, and cable)$0Landscaping $244,922 $306,153 $306,153Tree Preservation and Restoration NA NAWetland Mitigation and Buffers $50,000 $62,500 $46,875 $15,625Monuments $5,700 $7,125 $5,344 $1,781Erosion Control $195,986 $244,982 $183,736 $61,245Boardwalk $66,500 $83,125 $62,344 $20,781Record Drawings $10,000 $12,500 $9,375 $3,125TOTALS $2,535,813 $3,169,767RELEASED AMOUNTS:$1,532,855 $195,000 $691,011 $750,900 $0 $0CUMMULATIVE AMOUNTS:$1,532,855 $1,727,855 $2,418,866 $3,169,766SECURITY AMOUNT REMAINING:$1,636,912 $1,441,912 $750,901 $0DATE:9/5/2017 11/20/2018 11/17/2020 11/15/2022REDUCTIONS
HAMMES 2ND ADDITION Time of Performance: October 31, 2017DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading NA NAIncluded in Phase 1Sanitary Sewer $121,909 $152,386 $114,290 $38,097Watermain $107,523 $134,404 $100,803 $33,601Storm Sewer (w/pond structures) $139,803 $174,754 $131,065 $43,689Streets + Sidewalks $235,446 $294,308 $220,731 $73,577Bituminous Trails $7,783 $9,729 $7,297 $2,432Surface Water Facilities NA NAStreet Lighting $18,000 $22,500 $16,875 $5,625Street Signs and Traffic Control Signs $1,000 $1,250 $938 $312Private Utilities (electricity, natural gas, telephone, and cable)$0Landscaping $53,588 $66,985 $66,985Tree Preservation and Restoration NA NAWetland Mitigation and Buffers NA NAMonuments $3,700 $4,625 $3,469 $1,156Erosion Control $18,878 $23,598 $17,698 $5,900Miscellaneous Facilities NA NARecord Drawings $5,000 $6,250 $4,688 $1,562TOTALS $712,630 $890,789RELEASED AMOUNTS:$566,888 $50,963 $272,936 $0 $0 $0$222,697.13CUMMULATIVE AMOUNTS:$566,888 $617,852 $890,788SECURITY AMOUNT REMAINING:$323,900 $272,937 $0DATE:11/20/2018 11/17/2020 11/15/2022REDUCTIONS