HomeMy WebLinkAbout#10 - Union Park 1st Add Security Release STAFF REPORT
DATE: June 20, 2023
CONSENT
AGENDA ITEM: Approve Release of Warranty Security for Public Sanitary Sewer and Watermain for Union Park 1st Addition.
SUBMITTED BY: Jack Griffin, City Engineer REVIEWED BY: Kristina Handt, City Administrator Sophia Jensen, City Planner Marty Powers, Public Works Director Clarissa Hadler, Finance Director Chad Isakson, Assistant City Engineer
ISSUE BEFORE COUNCIL: Should the City Council approve release of warranty security for public sanitary sewer and watermain improvements for the Union Park 1st Addition?
PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to release development security for the Union Park 1st Addition. The 2-year warranty period for public sanitary sewer and watermain in Union Park 1st Addition expired on April 20, 2023. A warranty walk-through has been completed by city staff and all warranty punch list items have since been addressed by the developer. Current Security Amount Proposed Security Amount 1. Union Park 1st Addition $1,378,983 $ 1,182,771 The remaining proposed security would remain in place for the public street improvement and landscaping.
FISCAL IMPACT: Release of the warranty security closes out the public sanitary sewer and watermain improvements portion of the development. 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 sanitary sewer and watermain improvements in Union
Park 1st Addition, all 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 Union Park 1st Addition as detailed in the respective Security Reduction Worksheet, 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 – Union Park 1st Addition.
UNION PARK 1ST ADDITION Time of Performance: October 31, 2020DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading $268,425 $335,531100%$335,531Sanitary Sewer $365,093 $456,366100%$342,275 $114,092Watermain $262,783 $328,479100%$246,359 $82,120Storm Sewer (w/pond structures) $319,348 $399,185Streets + Sidewalks $435,304 $544,130Bituminous Trails $24,645 $30,806Surface Water Facilities $34,727 $43,409Street Lighting $24,000 $30,000Street Signs and Traffic Control Signs $8,965 $11,206Private Utilities (electricity, natural gas, telephone, and cable)Landscaping $36,620 $45,775Tree Preservation and Restoration NA NAWetland Mitigation and Buffers NA NAMonuments $6,200 $7,750Erosion Control $51,408 $64,260Miscellaneous Facilities NA NARecord Drawings $5,000 $6,250TOTALS $1,842,518 $2,303,148RELEASED AMOUNTS:$588,634 $335,531 $196,211 $0 $0 $0$491,904CUMMULATIVE AMOUNTS:$588,634 $924,165 $1,120,376SECURITY AMOUNT REMAINING:$1,714,514 $1,378,983 $1,182,771DATE:4/20/2021 9/7/2021 6/20/2023REDUCTIONS