HomeMy WebLinkAbout#12 - Northport 1st & 2nd Security Release STAFF REPORT
DATE: December 20, 2022
CONSENT
AGENDA ITEM: Approve Release of Warranty Security for Public Utilities for Northport 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 utilities for Northport 1st and 2nd Addition? PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to release the
development security for Northport 1st and 2nd Addition. The 2-year warranty period for Northport 1st and 2nd Addition watermain and sanitary sewer expired on January 15, 2021. 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 been addressed by the developer. With the release of the 2-year warranty security for sanitary sewer and watermain the overall development
security may be released as detailed in the attached worksheets and shown below. Current Security Amount Proposed Security Amount 1. Northport 1st Addition: $955,008 $691,726 2. Northport 2nd Addition: $263,239 $221,635
FISCAL IMPACT: Release of the warranty security closes out the sanitary sewer and watermain portion of the development. The operation and maintenance of the public sanitary sewer and watermain 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 sanitary sewer and watermain in Northport 1st and 2nd Addition. 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 Northport 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 – Northport 1st Addition.
2. Security Reduction Worksheet – Northport 2nd Addition.
NORTHPORT 1ST ADDITION Time of Performance: October 31, 2018DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading NA $114,100Included in Phase 1 $114,100Sanitary Sewer $480,346 $600,433 $450,324 $150,108Watermain $362,155 $452,694 $339,520 $113,173Storm Sewer (w/pond structures) $591,406 $739,258 $369,629 $184,814Streets + Sidewalks + Turn Lanes $636,008 $795,010 $397,505 $198,753Bituminous Trails $34,876 $43,595 $32,696Surface Water Facilities $50,000 $62,500 $46,875Street Lighting $72,000 $90,000 $67,500Street Signs and Traffic Control Signs $2,600 $3,250 $2,438Private Utilities (electricity, natural gas, telephone, and cable)Landscaping $192,025 $240,031Tree Preservation and Restoration NA NAWetland Mitigation and Buffers NA NAMonuments $4,860 $6,075 $4,556Erosion Control $23,670 $29,588 $22,191Miscellaneous Facilities NA NARecord Drawings $30,000 $37,500 $28,125TOTALS $2,479,946 $3,214,034RELEASED AMOUNTS:$1,556,978 $114,100 $587,948 $263,282 $0 $0$774,983CUMMULATIVE AMOUNTS:$1,556,978 $1,671,078 $2,259,026 $2,522,308SECURITY AMOUNT REMAINING:$1,657,055 $1,542,955 $955,008 $691,726DATE:1/15/2019 11/5/2019 12/6/2022 12/20/2022REDUCTIONS
NORTHPORT 2ND ADDITION Time of Performance: October 31, 2018DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading NA NAIncluded in Phase 1Sanitary Sewer $73,001 $91,251 $68,438 $22,813Watermain $60,130 $75,163 $56,372 $18,791Storm Sewer (w/pond structures) $234,091 $292,614 $146,307 $73,153Streets + Sidewalks $237,114 $296,393 $148,196 $74,098Bituminous Trails $7,500 $9,375 $7,031Surface Water Facilities NA NAStreet Lighting $12,000 $15,000 $11,250Street Signs and Traffic Control Signs $625 $781 $586Private Utilities (electricity, natural gas, telephone, and cable)Landscaping $52,500 $65,625Tree Preservation and Restoration NA NAWetland Mitigation and Buffers NA NAMonuments $2,900 $3,625 $2,719Erosion Control NA NAMiscellaneous Facilities NA NARecord Drawings $5,000 $6,250 $4,688TOTALS $684,861 $856,077RELEASED AMOUNTS:$124,810 $294,503 $173,525 $41,603 $0 $0CUMMULATIVE AMOUNTS:$124,810 $419,313 $592,838 $634,442SECURITY AMOUNT REMAINING:$731,267 $436,764 $263,239 $221,635DATE:1/15/2019 10/1/2019 12/6/2022 12/20/2022REDUCTIONS