HomeMy WebLinkAbout#10 - Ebertz Addition Security Reduction STAFF REPORT
DATE: August 20, 2024
CONSENT
AGENDA ITEM: Accept Improvements and Approve Security Reductions for the Ebertz
Addition (Drake Motor Partners, LLC)
SUBMITTED BY: Jack Griffin, City Engineer REVIEWED BY: Nicole Miller, City Administrator Jason Stopa, Community Development Director 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 the Ebertz Addition (Drake Motor Partners, LLC)? PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to accept the improvements and reduce the development security for Ebertz Addition. This request has been reviewed and is being recommended for approval in accordance with the approved Development Agreement. Approval of this reduction 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 amount is recommended to be reduced as follows: Current Security Amount Proposed Security Amount
1. Ebertz Addition $ 2,543,275 $ 888,378 The warranty periods for the subdivision improvements will be initiated as outlined on the attached
Certificate of Completion. Twenty-five percent (25%) of the original security amount 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. 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 Ebertz Addition, contingent on the developer being current with all 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 Ebertz Addition, contingent on the developer being current with all payments and obligations in accordance with the Development Agreement.”
ATTACHMENTS: 1. Certificate of Completion.
2. Security Reduction Worksheet.
CERTIFICATE OF COMPLETION
DATE OF ISSUANCE: AUGUST 20, 2024
OWNER: CITY OF LAKE ELMO, MN
DEVELOPER: DRAKE MOTOR PARTNERS LE LLC
SUBDIVISION
NAME:
EBERTZ ADDITION
PROJECT NO.: 2022.124
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 30.A – Public sewer and watermain
Section 30.B – Public improvements including street construction, including the
improvements and turn lanes on Hudson Boulevard North, the concrete curb and gutter, trails
and sidewalks, 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 13, 2023. The above-mentioned improvement is
hereby declared to be complete and acceptance of this work is recommended.
DATE OF COMPLETION: August 20, 2024
Chad Isakson Reg. No. 49028
FOCUS Engineering, inc.
Section 30.A Warranty Period Begins April 29, 2024 and ends April 29, 2026
Section 30.B Warranty Period Begins
August 20, 2024
and ends
August 20, 2025
EBERTZ NORTH (DRAKE) Time of Performance: October 31, 2024
SITE IMPROVEMENT AGREEMENT AMOUNTS
CATEGORY COST 125% REMARKS #1 #2 #3 #4 #5 #6
Grading $0 $0
Sanitary Sewer $56,000 $70,000 75%$52,500
Watermain $212,000 $265,000 75%$198,750
Storm Sewer (w/pond structures) $386,563 $483,204 75%$362,403
Street and Sidewalks $788,000 $985,000 75%$738,750
Bituminous Trails $36,000 $45,000 75%$33,750
Surface Water Facilities (ponds,
infiltration basins, other BMPS)$200,240 $250,300 75%$187,725
Street Lighting $10,000 $12,500 75%$9,375
Street Signs and Traffic Control Signs NA NA
Private Utilities (electricity, natural gas, telep NA NA
Landscaping $121,107 $151,384 0%
Tree Preservation and Restoration $148,290 $185,363 0%
Wetland Mitigation and Buffers $7,500 $9,375 75%$7,031
Monuments $5,400 $6,750 75%$5,063
Erosion Control and Restoration $53,520 $66,900 75%$50,175
Record Drawings $10,000 $12,500 75%$9,375
TOTALS $2,034,620 $2,543,275 RELEASED AMOUNTS:$1,654,897
CUMMULATIVE AMOUNTS:$1,654,897
SECURITY AMOUNT REMAINING:$888,378
DATE: 8/20/2024
REDUCTIONS