HomeMy WebLinkAbout#11 - Stillwater Bus Facility Security Security Release STAFF REPORT
DATE: November 8, 2023
CONSENT
AGENDA ITEM: Approve Release of Warranty Security for Public Watermain Improvements for the Stillwater Bus Facility.
SUBMITTED BY: Jack Griffin, City Engineer
REVIEWED BY: Kristina Handt, City Administrator Marty Powers, Public Works Director Clarissa Hadler, Finance Director
Sophia Jensen, City Planner Chad Isakson, Assistant City Engineer
ISSUE BEFORE COUNCIL: Should the City Council approve release of warranty security for public watermain improvements for the Stillwater Bus Facility? PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to release the development security for the Stillwater Bus Facility. The 2-year warranty period for the public watermain began on October 5, 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 since been addressed by the developer. With the release of the 2-year warranty security watermain the overall development security may be reduced as shown below:
Current Security Amount Proposed Security Amount
1. Stillwater Bus Facility: $89,063 $50,000
The remaining security is for landscaping items.
FISCAL IMPACT: Release of the warranty security closes out the public watermain portion of 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 public watermain warranty security for the Stillwater Bus Facility. 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 may be 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 Stillwater Bus Facility 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 may be required by the City” ATTACHMENTS: 1. Security Reduction Worksheet – Stillwater Bus Facility.
ISD #834 STILLWATER BUS FACILITY Time of Performance: December 1, 2019SITE IMPROVEMENT AGREEMENT AMOUNTSCATEGORY 100% REMARKS #1 #2 #3 #4 #5 #6Grading NASanitary Sewer NAWatermain $156,25075%$117,188 $39,063Storm Sewer (w/pond structures) NAStreet and Trail Cut at EntranceNABituminous Trails NASurface Water Facilities NAStreet Lighting NAStreet Signs and Traffic Control Signs NAPrivate Utilities (electricity, natural gas, telepNALandscaping $50,000Tree Preservation and Restoration NAWetland Mitigation and Buffers NAMonuments NAErosion Control NARecord Drawings NATOTALS $206,250RELEASED AMOUNTS:$117,188 $39,063CUMMULATIVE AMOUNTS:$117,188 $156,250SECURITY AMOUNT REMAINING:$89,063 $50,000DATE: 10/5/2021 11/8/2023REDUCTIONS