Laserfiche WebLink
<br />REQUEST FOR COUNCIL ACTION <br />Date: September 26, 2022 <br /> Item No.: 10.e <br />Department Approval City Manager Approval <br />Item Description: Approve Partial Release of Public Improvements Related to the Twin Lakes <br />rd <br />3Addition Public Improvement Contract <br />1 B ACKGROUND <br />2 On July 13, 2020, the City Council approved the Public Improvement Contract (PIC) <br />3 (Attachment B) with Roseville Investment Partners, LLC, for development work related to Twin <br />rd <br />4 Lakes 3Addition development, located north of County Road C atHerschel Street. The new <br />5 public infrastructure included intersection improvements to County Road C/Herschel Street, a new <br />6 signal light, turn lanes, storm sewer and other miscellaneous work. All major work is completed <br />7 other than some punchlist and warranty work required by Ramsey County. <br />8 The developer has requested a partial release of the PIC (Attachment A) for Lots 2, 3, 4, and <br />9 5, Block, 1, Twin Lakes 4th Additionto help finalize sale of these lots. The PIC would still <br />10 be tied to Lot 1 until all final work is completed, which is anticipated later this fall. The City <br />11 still has a $260,020.62 Letter of Credit to ensure the PIC work is finalized. <br />12 The City Attorney has reviewed the Release of Land from Public Improvement Contract. <br />13 F INANCIAL I MPACTS <br />14 All project costs related to the PIC were paid for by the developer. No further costs are <br />15 associated with the PIC. The City still has a $260,020.62 Letter of Credit to ensure the PIC <br />16 work is finalized. <br />17 S TAFF R ECOMMENDATION <br />rd <br />18 Staff recommends the City Council approve the partial release of land from the Twin Lakes 3 <br />19 Addition Public Improvement Contract. <br />20 R EQUESTED C OUNCIL A CTION <br />rd <br />21 Motion to approve partial release of land from the Twin Lakes 3 Addition Public Improvement <br />22 Contract. <br />Prepared by: Jesse Freihammer, Assistant Public Works Director/City Engineer <br />Attachments: A: Resolution <br /> B: Release of Land from Public Improvement Contract <br /> C: Public Improvement Contract <br />Page 1 of 1 <br /> <br />