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STAFF REPORT <br />DATE: February 7, 2023 <br /> CONSENT <br /> <br />AGENDA ITEM: Approve Release of Warranty Security for Public Utilities and Landscaping for <br />Hammes Estates 3rd Addition. <br /> <br />SUBMITTED BY: Jack Griffin, City Engineer <br />REVIEWED BY: Kristina Handt, City Administrator Marty Powers, Public Works Director <br /> Sophia Jensen, City Planner <br />Chad Isakson, Assistant City Engineer <br /> <br /> <br />ISSUE BEFORE COUNCIL: Should the City Council approve release of warranty security for public <br />utilities and landscaping for Hammes Estates 3rd Addition? <br /> <br />PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to release development <br />security for Hammes Estates 3rd Addition. The 2-year warranty period for Hammes Estates 2nd Addition <br />watermain and sanitary sewer period expired on March 17, 2022. A warranty walk-through has been <br />completed by city staff and all warranty punch list items have since been addressed by the developer. <br />Additionally, the landscaping security is proposed to be released per the planning director’s <br />recommendation as all work is completed per the development agreement. <br /> <br />The remaining development security for public improvements is pending completion of warranty punchlist <br />items for public improvements (streets and storm). Current Security Amount Proposed Security Amount <br />1. Hammes Estates 3rd Addition: $861,170 $318,252 <br /> <br />FISCAL IMPACT: Release of the warranty security closes out the public utilities and landscaping portion <br />of the development. The operation and maintenance of these facilities becomes the responsibility of the <br />City going forward. <br /> <br />RECOMMENDATION: Staff is recommending that the City Council, as part of the Consent Agenda, <br />approve the release of warranty security for public sanitary sewer, watermain, and landscaping in Hammes <br />Estates 3rd Addition, resulting in a full release of all remaining securities. The release of security is <br />contingent on the developer being current with all other payments and obligations in accordance with the <br />Development Agreement, including a positive escrow balance as required by the City. If removed from the <br />consent agenda, the recommended motion for the action is as follows: <br /> <br />“Move to approve the security release for the Hammes Estates 3rd Addition as detailed in the respective <br />Security Reduction Worksheets, contingent on the developer being current with all other payments and <br />obligations in accordance with the Development Agreement, including a positive escrow balance as <br />required by the City” <br /> <br />ATTACHMENTS: <br />1. Security Reduction Worksheet – Hammes Estates 3rd Addition.