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<br /> STAFF REPORT <br />DATE: April 1, 2025 <br /> CONSENT <br /> <br />TO: City Council <br />FROM: Mike Rusenovich, Project Engineer <br />AGENDA ITEM: Approve Security Reductions and Accept Improvements for Royal Golf <br />3rd, 5th, and 6th Additions <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: Lennar Homes, Inc. entered into a development agreements with the City for the Royal <br />Golf 3rd Addition; Royal Golf 5th Addition; and Royal Golf 6th Addition. Construction of the subdivision <br />improvements in each phase has met the required milestone needed to be eligible for a reduction in the <br />development security. <br /> <br />ISSUE BEFORE COUNCIL: Should the City Council accept the improvements and reduce the security <br />amounts as outlined in the respective Development Agreement for the Royal Golf 3rd Addition; Royal Golf <br />5th Addition; and Royal Golf 6th Addition? <br /> <br />PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to accept certain <br />improvements and to process reductions in the applicable development security as follows: <br /> <br />• Royal Golf 3rd Addition: Release the Public Sanitary Sewer and Watermain warranty security. <br />All remaining utility security amounts will be released with the expiration of the 2-year warranty. <br />• Royal Golf 5th Addition – Accept Public Sanitary Sewer and Watermain and Reduce the security. <br />The sanitary sewer and watermain improvements have been constructed, tested, and verified. With <br />the acceptance of the public sanitary sewer and watermain, the 2-year warranty period will be <br />initiated as shown on the attached Certificate of Completion. Twenty-five percent (25%) of the <br />original security amount will be retained until the warranty period has expired. The operation and <br />maintenance of the public sanitary sewer and watermain becomes the responsibility of the City <br />going forward. <br />• Royal Golf 6th Addition – Accept Public Sanitary Sewer and Watermain and Reduce the security. <br />The sanitary sewer and watermain improvements have been constructed, tested, and verified. With