HomeMy WebLinkAbout#11 - Union Park 1st & 2nd Security Reduction STAFF REPORT
DATE: November 21, 2023
CONSENT
AGENDA ITEM: Accept Improvements and Approve Security Reductions 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 accept the improvements and approve security reductions for Union Park 1st Addition?
PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to accept the improvements and reduce the development security for Union Park 1st Addition. This request has been reviewed and is being recommended for approval in accordance with the approved Development Agreement, and 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. The Development Security amount is recommended to be reduced as follows: Current Security Amount Proposed Security Amount 1. Union Park 1st Addition $ 1,182,771 $ 330,024
The Union Park 1st Addition public facilities warranty periods are identified on the attached Certificate of Completion. Twenty-five percent (25%) of the original security amount will be retained until the warranty periods have expired and all warranty corrective work has been completed.
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 respective worksheets for 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 accept the improvements and approve the security reductions as detailed in the attached respective worksheets for Union Park 1st Addition, contingent on the developer being current with all other payments and obligations in accordance with the Development Agreement.” ATTACHMENTS: 1. Certificate of Completion – Union Park 1st Addition. 2. Security Reduction Worksheet – Union Park 1st Addition.
CERTIFICATE OF COMPLETION
DATE OF ISSUANCE: NOVEMBER 21, 2023
OWNER: CITY OF LAKE ELMO, MN
DEVELOPER: PULTE HOMES OF MINNESOTA, LLC
SUBDIVISION
NAME:
UNION PARK FIRST ADDITION
PROJECT NO.: 2018.131
This Certification of Completion applies to all work under the Development Agreement
This Certification of Completion applies to the following specified parts of the Development
Agreement
Section 31.A – Public sewer and watermain
Section 31.B – Public improvements including street construction, concrete curb and gutter,
sidewalks and trails, materials and equipment.
I do hereby certify that the work to which this Certificate applies has been constructed in accordance
with the Development Agreement dated June 25, 2020. The above-mentioned improvement is
hereby declared to be complete and acceptance of this work is recommended.
DATE OF COMPLETION: November 21, 2023
Chad Isakson Reg. No. 49028
FOCUS Engineering, inc.
Section 31.A Warranty Period Begins April 20, 2021 and ends April 20, 2023
Section 31.B Warranty Period Begins
November 21, 2023
and ends
November 21, 2024
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 $399,18575%$299,389Streets + Sidewalks $435,304 $544,13075%$408,098Bituminous Trails $24,645 $30,80675%$23,105Surface Water Facilities $34,727 $43,40975%$32,557Street Lighting $24,000 $30,00075%$22,500Street Signs and Traffic Control Signs $8,965 $11,20675%$8,405Private Utilities (electricity, natural gas, telephone, and cable)Landscaping $36,620 $45,775Tree Preservation and Restoration NA NAWetland Mitigation and Buffers NA NAMonuments $6,200 $7,75075%$5,813Erosion Control $51,408 $64,26075%$48,195Miscellaneous Facilities NA NARecord Drawings $5,000 $6,25075%$4,688TOTALS $1,842,518 $2,303,148RELEASED AMOUNTS:$588,634 $335,531 $196,211 $852,747 $0 $0$491,904CUMMULATIVE AMOUNTS:$588,634 $924,165 $1,120,376 $1,973,123SECURITY AMOUNT REMAINING:$1,714,514 $1,378,983 $1,182,771 $330,024DATE:4/20/2021 9/7/2021 6/20/2023 11/21/2023REDUCTIONS