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REQUEST FOR COUNCIL ACTION DATE: 1 �:'� � � �� ITEM NO.: g. Department pproval: Manager Reviewed: Agenda Section: .� -�'�� ' Item Description: Approve Subdivision and Public Improvement Contract for THE VILLAS AT MIDLAND HILLS (PF #3471) Background: On September 13,2004, the City Council approved THE VILLAS AT MIDLAND HILLS Final Plat, Rezoning and Planned Unit Development Agreement. United Properties (developer) in cooperation with Midland Hills Country Club is constructing a 33 unit condominium; this is a one lot, R-3, General Residence District planned unit development on 3.15 acres on the �i side of Fulham Street. This is phase I of this development, phase [] encompasses the u�r.�� side of Fulham Street, where conceptually 6 town homes have been approved. The western parcel is approximately 1.06 acres. As a part of this plat, United Properties will be constructing public improvements, including relocation of the sanitary sewer lift station, sanitary sewer, water, storm sewer relocation, and street restoration. The developerhas hired Metro Land Surveyingand Engineering to designthe improvements. The Citywill work with theirEngineer during construction to ensure the improvements are installed according to the approved plans. These improvements, once constructed, will be turned over to the City. Policy objectives: In order to facilitate this transition and ensure that the improvements are built to City standards, we have drafted a Development Contract that lays out all the responsibilities involved with this project. Upon completionofthe project, the developer's engineermustprovide the City withAs-builtplans. They must also provide to the City Engineer a letter certifying that the improvements were constructed accordingto approved plans and specifications,and request that the City accept the improvements. Once the City Council accepts the improvements, the two-year warranty period starts. Financial implications: In order to develop the property, the Developer needs to increase the capacity of this lift station as well as relocate it. All costs due to the relocation and upsizing of this lift station will be borne by the Developer. However, the existing lift station is nearly 45 years old, and the City had identified some necessary upgrades in the City's Capitol Improvement Program. In light of the anticipated improvements and the benefits of a having a new lift station constructed, Staff proposes that the City participate up to $25,000 in the cost of the new lift station. All costs associatedwith construction of the new public improvements necessary for this development will be borne by the Developer. Appropriate surety in the form of a Letter of Credit will be provided for all public improvements in the amount of 125% of the construction cost, $232,559.50 for a total of $290,699.3 8. Once the construction of the improvements has been completed and accepted by the City, this Letter of Credit will be released and replaced by a two-year warrantybond.