HomeMy WebLinkAbout#05 - Inwood 4th - Landscape Security ReleaseSTAFF REPORT
DATE: September 17th 2024
CONSENT
AGENDA ITEM: Approve Landscape Security Reduction for Inwood 4th Addition
SUBMITTED BY: Sophia Jensen, City Planner
ISSUE BEFORE COUNCIL: Should the City Council approve release of warranty security for
landscaping for Inwood 4th Addition?
PROPOSAL DETAILS/ANALYSIS: Staff has received and processed requests to reduce the
development security for landscaping improvements for Inwood 4th Addition. This phase has a
cash escrow not a letter of credit. This phase was inspected and accepted by the Landscape
Architect on 8/22/2024.
Current Security Amount Proposed Security Amount
$10,000 $01.Inwood 4th Addition
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,
approve the security reductions for Inwood 4th Addition. 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 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 Inwood 4th Addition as detailed in the respective Security
Reduction Worksheets, 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”
ATTACHMENTS:
1.Security Reduction Worksheets
2.Close Out Inspection Letter
INWOOD 4TH ADDITIONOctober 31, 2017DEVELOPMENT AGREEMENT AMOUNTSCATEGORYCONSTRUCTION125% REMARKS#1 #2 #3 #4 #5 #6GradingNANAIncluded in Overall Grading AgreementSanitary Sewer$86,227 $107,783.50$80,838 $26,946Watermain$173,821 $217,276.25$162,957 $54,319Storm Sewer$112,613 $140,766.25$105,575$35,192Streets and Sidewalks$285,312 $356,640.00$267,480$89,160TrailsNANASurface Water FacilitiesNANAincluded in Grading AgreementStreet Lighting$24,000 $30,000.00By Xcel Energy$22,500 $7,500Street Signs and Traffic Control Signs $1,320 $1,650.00 $1,238 $413Private Utilities (electricity, natural gas, telephone, and cable)Landscaping$32,000 $40,000.00$30,000$10,000Tree Preservation and RestorationNANAincluded in Grading AgreementWetland Mitigation and BuffersNANALOC Through VBWDMonuments$3,800 $4,750.00$3,563 $1,188Erosion ControlNANAincluded in Grading AgreementMiscellaneous FacilitiesNANANoneRecord Drawings$5,000 $6,250.00$4,688 $1,563TOTALS$724,093 $905,116.00RELEASED AMOUNTS:$616,850 $81,265 $61,988 $135,014 $10,000 $0CUMMULATIVE AMOUNTS:$616,850 $698,114 $760,102 $895,116 $905,116SECURITY AMOUNT REMAINING:$288,267 $207,002 $145,014 $10,000 $0DATE:9/5/2017 12/17/2019 10/19/2021 12/6/2022 9/17/2024REDUCTIONSTime of Performance:
1
Memorandum
TO: Sophia Jensen
FROM: Tim Solomonson, PLA
DATE: 08/27/24
RE: Landscape Warranty Close-out Inspection | Inwood 4th Addition
Initial
Inspection
Acceptance
1-Year
Inspection
1-Year
Re-inspection
2-Year
Inspection
2-Year
Re-inspection
Final
Inspection
Acceptance
Inwood - 4th Addition 10/02/20 06/02/21 09/15/21 & 11/12/21 09/27/22 06/28/23 & 06/14/24 07/23/24
08/22/24
Inspectors:
Tim Solomonson, PLA (MN)
Leilen Farias, Landscape Designer
Inspection Summary:
The trees identified for replacement and corrective action on June 14 th, 2024 have been installed and
adjusted as required.
Recommendations:
The landscaping meets City requirements for final acceptance.
Tim Solomonson, PLA (MN)
Landscape Architect
P: (612) 802-0142 | E: Tim@hkgi.com
800 WASHINGTON AVE N STE 103 MPLS, MN 55401 | HKGI.COM