HomeMy WebLinkAbout#11 - Easton Village 4th Security Reductions STAFF REPORT
DATE: February 6, 2024
CONSENT
AGENDA ITEM: Accept Improvements for Easton Village 4th Addition, and Approve Security Reductions for Easton Village 4th and 5th Additions
SUBMITTED BY: Jack Griffin, City Engineer REVIEWED BY: Clark Schroeder, Interim 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 for Easton Village 4th
Addition, and approve security reductions for Easton Village 4th and 5th Additions?
PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to accept the public improvements and reduce the development security for the Easton Village 4th Addition; and release the
landscaping and utility warranty security for Easton Village 4th and 5th Additions as the respective warranty periods have expired and all corrective work has been completed. These requests have been reviewed and are being recommended for approval in accordance with the approved Development Agreements. Each approval is contingent on the developer having a positive escrow balance in the minimum amount required by the city, and the developer being current with all payments and obligations required by the Development Agreement. The Development Security amounts are recommended to be reduced as follows: Current Security Amount Proposed Security Amount 1. Easton Village 4th Addition $ 454,176 $ 93,053 2. Easton Village 5th Addition $ 993,824 $ 804,566 The Easton Village 4th Addition public improvement warranty period will be initiated as outlined in the attached Certificate of Completion. Twenty-five percent (25%) of the original security amounts will be retained until the applicable 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. Release of the public landscaping, sanitary sewer, and watermain warranty security closes out the public landscape and utility improvement portion of
the development. The operation and maintenance of these facilities become the responsibility of the city going forward. RECOMMENDATION: Staff is recommending that the City Council accept, as part of the Consent Agenda, the Easton Village 4th Addition improvements and approve the security reductions and release as detailed in the attached respective worksheets for the Easton Village 4th and 5th Additions, contingent on the developer being current with all Development Agreement payments and obligations, 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 Easton Village 4th Addition Improvements and approve the security reductions and release as detailed in the attached respective worksheets for the Easton Village 4th and 5th Additions,
contingent on the developer being current with all payments and obligations in accordance with the Development Agreement.” ATTACHMENTS: 1. Security Reduction Worksheet – Easton Village 4th Addition.
2. Certificate of Completion – Easton Village 4th Addition. 3. Security Reduction Worksheet – Easton Village 5th Addition.
EASTON VILLAGE 4TH ADDITION October 31, 2018DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading NA NASanitary Sewer $74,754 $93,443 $70,082 $23,361Watermain $123,925 $154,906 $116,180 $38,727Storm Sewer $109,294 $136,618 $102,463Streets and Sidewalks $146,487 $183,109 $137,332Trails NA NASurface Water Facilities NA NAStreet Lighting $12,000 $15,000By Xcel Energy$11,250Street Signs and Traffic Control Signs $700 $875 $656Private Utilities (electricity, natural gas, telephone, and cableNA NALandscaping $15,900 $19,875 $19,875Tree Preservation and Restoration NA NAWetland Mitigation and Buffers NA NAMonuments $2,400 $3,000 $2,250Erosion Control $21,890 $27,363 $20,522Misc. NA NARecord Drawings $5,000 $6,250 $4,688TOTALS $512,350 $640,438RELEASED AMOUNTS:$186,262 $361,123 $0 $0 $0 $0CUMMULATIVE AMOUNTS:$186,262 $547,384SECURITY AMOUNT REMAINING:$454,176 $93,053DATE:1/15/2019 2/6/2024Time of Performance: REDUCTIONS
CERTIFICATE OF COMPLETION
DATE OF ISSUANCE: FEBRUARY 6, 2024
OWNER: CITY OF LAKE ELMO, MN
DEVELOPER: CHASE DEVELOPMENT, INC.
SUBDIVISION
NAME:
EASTON VILLAGE 4TH ADDITION
PROJECT NO.: 2018.118
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 36.A – Public sewer and watermain
Section 36.B – Public improvements including street construction, concrete curb and gutter,
storm sewer facilities, sidewalks, 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 September 10, 2018. The above-mentioned improvement
is hereby declared to be complete and acceptance of this work is recommended.
DATE OF COMPLETION: February 6, 2024
Chad Isakson Reg. No. 49028
FOCUS Engineering, inc.
Section 36.A Warranty Period Begins January 15, 2019 and ends January 15, 2021
Section 36.B Warranty Period Begins
February 6, 2024
and ends
February 6, 2025
EASTON VILLAGE 5TH ADDITION October 31, 2019DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Site Grading Agreement $0 $0Sanitary Sewer $219,845 $274,806 $206,105 $68,702Watermain $324,705 $405,881 $304,411 $101,470Storm Sewer $485,728 $607,160 $303,580Streets and Sidewalks $693,676 $867,095 $433,548Trails $0 $0Surface Water Facilities NA NAStreet Lighting $40,000 $50,000By Xcel EnergyStreet Signs and Traffic Control Signs $4,150 $5,188Private Utilities (electricity, natural gas, telephone, and cableNA NALandscaping $61,074 $76,343 $57,257 $19,086Tree Preservation and Restoration NA NAWetland Mitigation and Buffers NA NAMonuments $4,800 $6,000Erosion Control $0 $0Misc. NA NARecord Drawings $5,000 $6,250TOTALS $1,838,978 $2,298,724RELEASED AMOUNTS:$1,304,900 $189,258 $0 $0 $0 $0CUMMULATIVE AMOUNTS:$1,304,900 $1,494,158SECURITY AMOUNT REMAINING:$993,824 $804,566DATE:10/6/2020 2/6/2024Time of Performance: REDUCTIONS