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<br /> STAFF REPORT <br />DATE: July 15, 2025 <br /> CONSENT <br /> <br />TO: City Council <br />FROM: Chad Isakson, Project Engineer <br />AGENDA ITEM: Accept Improvements and Approve Security Reductions for the Dairy <br />Queen (9923 Hudson Blvd) Project <br />REVIEWED BY: Nicole Miller, City Administrator <br /> Clarissa Hadler, Finance Director <br /> Jason Stopa, Community Development Director <br /> Marty Powers, Public Works Director <br /> Nate Stanley, City Engineer <br /> <br /> <br />CORE STRATEGIES: <br /> <br />☐ Vibrant, inclusive, connected community ☐ Efficient, reliable, innovative services <br />☐ Responsive, transparent, adaptive governance ☐ Balanced Finances now and future <br />☒ Managed Growth ☒ Resilient Infrastructure <br /> <br /> <br />BACKGROUND: BKJ RE LLC entered into a site improvement agreement with the City for Dairy Queen <br />(9923 Hudson Boulevard) on November 15, 2023. <br /> <br />ISSUE BEFORE COUNCIL: Should the City Council accept the improvements and approve security <br />reductions for the Dairy Queen (9923 Hudson Blvd) project? <br /> <br />PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to accept the <br />improvements and reduce the security for the Dairy Queen (9923 Hudson Blvd) project. This request has <br />been reviewed and is being recommended for approval in accordance with the approved Site Improvement <br />Agreement. Approval of this reduction is contingent on the developer having a positive escrow balance in <br />the minimum amount required by the City, and the developer being current with all payments and <br />obligations required by the Site Improvement Agreement. The security amount is recommended to be <br />reduced as follows: <br /> Current Security Amount Proposed Security Amount <br />1. Dairy Queen (9923 Hudson Blvd) $ 152,609 $ 38,152 <br /> <br />The warranty periods for the improvements will be initiated as outlined on the attached Certificate of <br />Completion. Twenty-five percent (25%) of the original security amount will be retained until the applicable <br />warranty periods have expired and all warranty corrective work has been completed. <br /> <br />FISCAL IMPACT: It is the City’s goal to retain at all times during the subdivision improvements a <br />security amount that is adequate to ensure completion of all elements of the improvements as protection to <br />the city tax payers against the potential of developer default.