HomeMy WebLinkAboutA020 - Email dated October 18, 2019, from The Tail Wind Group RE: The Quarters stormwater maintenance security
�4 Karen Davis to: Nathan Willey 10/18/2019 02:22 PM
Cc: "Diane R Voss"
Ok,thank you, I will mail the check today.
Re: the$43K LOC, I believe our financial institution is close to completing a new one because we
thought the previous one expired 9/1/19. But you have a date of 12/11 for expiration?
Karen Davis
Property Accountant
M1,
530 S. Front St.Suite 100
Mankato, MN 56001
(0) 507-322-1200
From: Nathan Willey<NWilley@city.ames.ia.us>
Sent: Friday, October 18, 2019 2:17 PM
To: Karen Davis<Kdavis@thetailwindgroup.com>
Cc: Diane R Voss<DVoss@city.ames.ia.us>
Subject: RE:The Quarters stormwater maintenance security
[EXTERNAL]
Hi Karen,
You can send the maintenance security check to:
Attn: Nate Willey
Ames City Hall Public Works Dept.
515 Clark Ave
Ames, IA 50010
Once I get that, I will send a certification letter to the City Clerk asking to release the
$60K stormwater installation security.
The other $43K of security is for public improvements. I am currently working with
Steve Glynn from Mohs Construction to complete some remaining sewer and sidewalk
repairs before that can be released. As soon as those items are done, I will send
another certification letter asking to release that. It is due for renewal by Dec 11th, so I
am hopeful that Mohs can complete the repairs before it needs to be renewed.
Please let me know if you have any further questions.
Thank you,
Nathan Willey, P.E.
Civil Engineer 11
n willeyOcity.ames.ia.us
Office:515.239.5436 1 Fax: 515.239.5404
City Hall,515 Clark Avenue I Ames, IA 50010
CITY OF
es"
„0 ,
www.CityofAmes.ors Caring People-Quality Programs" Exceptional Service "
-----"Karen Davis" <Kdavis(athetailwindgroup.com> wrote: -----
To: "nwilleyCd)city.ames.ia.us" <nwilley(abcity.ames.ia.us>
From: "Karen Davis" <Kdavis(@thetailwindciroup.com>
Date: 10/18/2019 02:OOPM
Subject: RE: The Quarters stormwater maintenance security
Hello Nathan,
We are interested in issuing a check for the amount of $10,000.00 to the City of Ames for
the Maintenance Bond. I'd like to confirm the address.... Shall I mail it to City of Ames, 515
Clark Ave, Ames, IA 50010 or is there a PO Box I should use? Also shall I mail it to your
attention?
Please also clarify for us the relationship of the $60,000 Stormwater Bond &the $43,104
LOC that Diane Voss is the contact for. We want to be sure we understand correctly. With
you preparing to release the Stormwater installation security & putting the $10,000
Maintenance Bond in place, will the City of Ames still need the $43,104 LOC renewed?
I look forward to hearing from you.
Karen Davis
N
ntant
b,
530 S. Front St. Suite 100
Mankato, MN 56001
(0) 507-322-1200
From: Betsy Dornfeld <bdornfeld thetailwindgroup.com>
Sent: Friday, October 18, 2019 1:12 PM
To: Karen Davis <Kdavis(&thetailwindgroup.com>
Subject: FW: The Quarters stormwater maintenance security
Betsy Dornfeld
Tailwind Group
Asset Analyst
507-405-2813
From: Nathan Willey <NWilley0)city.ames.ia.us>
Sent: Wednesday, October 16, 2019 9:47 AM
To: Betsy Dornfeld <bdornfeld(o)thetailwindgroup.com>
Cc: Diane R Voss <DVoss(aicity.ames.ia.us>
Subject: The Quarters stormwater maintenance security
[EXTERNAL]
Hi Betsy,
Per our City Code Chapter 5B, before I can release the stormwater installation security
for The Quarters, I will need security for 4 years of maintenance. Attached is the
approved stormwater maintenance estimate of $2,500/year, which results in total
security of$10,000 required for the full 4 years.
The security can be obtained through one of the following:
a. Performance Bond. Use the "Financial Security and Performance
Bond" form located at:
https://www cityofames org/government/departments-divisions-i-z/public-work
s/stormwater-prop ram
b. Letter of Credit. A letter of credit will be subject to legal review before
final acceptance and must be renewed until full or partial release has been
authorized.
c. Cash or Check. Any cash or check given for security will be deposited
into a non-interest-bearing account until full or partial release has been
authorized.