HomeMy WebLinkAboutA030 - Email correspondence regarding intersection improvements John C Joiner/COA To russ@4eca.com
07/25/2005 04:38 PM cc Steve Schainker/COA@COA,John R Klaus/COA@COA,
' Diane R Voss/COA@COA, Matthew G Flynn/COA@COA,
Tracy Phares/COA@COA, Ray D Anderson/COA@COA
... bcc
Subject= South_Fork3r`.
Russ,
When the Final Plat of the 2nd Addition was approved, there was the requirement that the Developer bond
for 50% of the construction costs for intersection improvements at Lincoln Way and Franklin Avenue. The
bonding requirement was for the amount of$350,000. These costs do not include engineering or land
acquisition costs. This is in accordance with Section V.13.3 of the Development Agreement, as detailed in
a memo from Paul Wiegand on September 9, 2003.
With Platting of the 3rd Addition, the provisions of Section V.13.4 of the Development Agreement require
bonding for 50% of them,tersection improvertient costs of Lincoln Way and Dotso_n Drive:.The amount
s
required for this bondw`ill'be$y250-000.
It should be noted that the final amount the Developer must pay will be adjusted according to the actual
construction costs.
Please let me know if you have questions.
Thanks,
John
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John C. Joiner, P.E.
City of Ames Public Works Dept.
515 Clark Avenue
Ames, Iowa 50010
Desk 515-239-5165
Fax 515-239-5404
i
John C Joiner To: Diane R Voss/COA@COA
u�709/09/2003 09:35 AM Subject-: Southfo"rk Subdivisions
Diane,
I thought you should be in the loop on this, too.
John
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John C. Joiner, P.E.
City of Ames Public Works Dept.
515 Clark Avenue
Ames, Iowa 50010
Desk 515-239-5165
Fax 515-239-5404
-----Forwarded by John C Joiner/COA on 09/09/2003 09:34 AM-----
Paul D Wiegand To: John C Joiner/COA@COA, Eric C Jensen/COA@COA
09/09/2003 09:01 AM cc: Steve Schainker/COA@COA
Subject: Southfork Subdivision
As you know, the Developer's agreement for this subdivision called for Cochrane to bond for
improvements to the intersection of Lincoln Way and Franklin when the second phase was platted. After
Council rejected Cochrane's request to modify the agreement and have the financial security filed at a
later time, the Engineering staff updated the cost estimate. Construction was estimated to be $700,000.
Contingency, design costs and potential right of way costs are not included in that cost.
In working with Larry Curtiss, Cochrane's attorney, I agreed that we would recommend acceptance of the
plat for the second phase of Southfork if they filed a financial security in the amount of$3'S®000 or
one-half of the estimated construction costs. The agreement still provides for a reconciliation such that if
actual costs are higher they will have to pay the City the incremental amount. They will include,__
of
credt',when they file the documents for the second phase.
Of course, all other platting elements must be complied with as well. I assume that we will see the
documents soon so they can get utility work done this fall and winter.
Let me know if you have any questions.
-Paul