HomeMy WebLinkAbout#11 - Lakewood Crossing 2nd Security Reduction STAFF REPORT
DATE: February 7, 2023
CONSENT
AGENDA ITEM: Accept Sanitary Sewer and Watermain Improvements and Approve
Security Reductions for Lakewood Crossing 2nd Addition
SUBMITTED BY: Jack Griffin, City Engineer
REVIEWED BY: Kristina Handt, City Administrator
Sophia Jensen, City Planner Marty Powers, Public Works Director
Chad Isakson, Assistant City Engineer
ISSUE BEFORE COUNCIL: Should the City Council accept the public sanitary sewer and watermain
improvements and approve security reductions for the Lakewood Crossing 2nd Addition?
PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to accept the public
sanitary sewer and watermain improvements and reduce the development security for the Lakewood
Crossing 2nd 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. Lakewood Crossing 2nd Addition $ 235,100 $ 161,689
The Lakewood Crossing 2nd Addition public sanitary sewer and watermain improvements are in the
warranty period as 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.
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 public sanitary sewer and watermain improvements and approve the security reductions as
detailed in the attached worksheet for the Lakewood Crossing 2nd 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 public sanitary sewer and watermain improvements and approve the security
reductions as detailed in the attached worksheet for the Lakewood Crossing 2nd Addition, all
contingent on the developer being current with all other payments and obligations in accordance with
the Development Agreement.”
ATTACHMENTS:
1. Certificate of Completion – Lakewood Crossing 2nd Addition.
2. Security Reduction Worksheet – Lakewood Crossing 2nd Addition.
CERTIFICATE OF COMPLETION
DATE OF ISSUANCE: FEBRUARY 7, 2023
OWNER: CITY OF LAKE ELMO, MN
DEVELOPER: CM PROPERTIES 94 LIMITED PARTNERSHIP
SUBDIVISION
NAME:
LAKEWOOD CROSSING 2ND ADDITION
PROJECT NO.: 2017.147
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 sanitary sewer and watermain
Section 31.B – Public improvements for all work relating to the Hudson Boulevard turn lane.
I do hereby certify that the work to which this Certificate applies has been constructed in accordance
with the Development Agreement dated October 4, 2017. The above-mentioned improvement is
hereby declared to be complete and acceptance of this work is recommended.
DATE OF COMPLETION: July 19, 2022
Chad Isakson Reg. No. 49028
FOCUS Engineering, inc.
Section 34.A Warranty Period Begins July 19, 2022 and ends July 19, 2024
Section 34.B Warranty Period Begins
and ends
LAKEWOOD CROSSING 2ND ADDITION Time of Performance: October 31, 2018DEVELOPMENT AGREEMENT AMOUNTSCATEGORY CONSTRUCTION 125% REMARKS #1 #2 #3 #4 #5 #6Grading $0 $0Sanitary Sewer $25,650 $32,063 $24,047Watermain $52,655 $65,819 $49,364Storm Sewer$0 $0Streets $0 $0Trails $0 $0Surface Water Facilities $11,275 $14,094Street Lighting $0 $0Street Signs and Traffic Control Signs $0 $0Private Utilities (Electricity, Natural Gas, etc.) $0 $0Landscaping $30,000 $37,500Tree Preservation and Restoration $0 $0Wetland Mitigation and Buffers NA NAMonuments $0 $0Erosion and Sedimentation Control$16,500 $20,625Right Turn Lane $47,000 $58,750Record Drawings $5,000 $6,250TOTALS $188,080 $235,100RELEASED AMOUNTS:$73,411CUMULATIVE AMOUNTS:$73,411SECURITY AMOUNT REMAINING:$161,689DATE:2/7/2023REDUCTIONS