HomeMy WebLinkAbout#12 - Northport Security Reduction STAFF REPORT
DATE: January 2, 2024
CONSENT
AGENDA ITEM: Approve Release of Warranty Security for Public Improvements for Northport 1st
and 2nd Addition.
SUBMITTED BY: Jack Griffin, City Engineer
REVIEWED BY: Clark Schroeder, Interim 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
improvements 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 1-year warranty period for the public
improvements expired on December 6, 2023. Twenty-five percent (25%) of the original security was
retained through the 1-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 1-year warranty utility security the overall development security may be reduced as
shown below:
Current Security Amount Proposed Security Amount
1. Northport 1st Addition: $511,703 $60,008
2. Northport 2nd Addition: $172,417 $16,406
The remaining security is for landscaping items.
FISCAL IMPACT: Release of the warranty security closes out the public improvement 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 improvement warranty security for the Northport 1st and 2nd Additions. The
release of security is contingent on the developer being current with all 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 Northport 1st and 2nd Addition as detailed in the
respective Security Reduction Worksheets, contingent on the developer being current with all 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 – 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 $184,814 $184,814Streets + Sidewalks + Turn Lanes $636,008 $795,010 $397,505 $198,753 $198,753Bituminous Trails $34,876 $43,595 $32,696 $10,899Surface Water Facilities $50,000 $62,500 $46,875 $15,625Street Lighting $72,000 $90,000 $67,500 $22,500Street Signs and Traffic Control Signs $2,600 $3,250 $2,438 $813Private Utilities (electricity, natural gas, telephone, and cable)Landscaping $192,025 $240,031$180,023Tree Preservation and Restoration NA NAWetland Mitigation and Buffers NA NAMonuments $4,860 $6,075 $4,556 $1,519Erosion Control $23,670 $29,588 $22,191 $7,397Miscellaneous Facilities NA NARecord Drawings $30,000 $37,500 $28,125 $9,375TOTALS $2,479,946 $3,214,034RELEASED AMOUNTS:$1,556,978 $114,100 $587,948 $263,282 $180,023 $451,694$774,983CUMMULATIVE AMOUNTS:$1,556,978 $1,671,078 $2,259,026 $2,522,308 $2,702,331 $3,154,025SECURITY AMOUNT REMAINING:$1,657,055 $1,542,955 $955,008 $691,726 $511,703 $60,008DATE:1/15/2019 11/5/2019 12/6/2022 12/20/2022 12/5/2023 1/2/2024REDUCTIONS
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 $73,153 $73,153Streets + Sidewalks $237,114 $296,393 $148,196 $74,098 $74,098Bituminous Trails $7,500 $9,375 $7,031 $2,344Surface Water Facilities NA NAStreet Lighting $12,000 $15,000 $11,250 $3,750Street Signs and Traffic Control Signs $625 $781 $586 $195Private Utilities (electricity, natural gas, telephone, and cable)Landscaping $52,500 $65,625$49,219Tree Preservation and Restoration NA NAWetland Mitigation and Buffers NA NAMonuments $2,900 $3,625 $2,719 $906Erosion Control NA NAMiscellaneous Facilities NA NARecord Drawings $5,000 $6,250 $4,688 $1,563TOTALS $684,861 $856,077RELEASED AMOUNTS:$124,810 $294,503 $173,525 $41,603 $49,219 $156,009CUMMULATIVE AMOUNTS:$124,810 $419,313 $592,838 $634,442 $683,661 $839,670SECURITY AMOUNT REMAINING:$731,267 $436,764 $263,239 $221,635 $172,417 $16,406DATE:1/15/2019 10/1/2019 12/6/2022 12/20/2022 12/5/2023 1/2/2024REDUCTIONS