HomeMy WebLinkAboutA010 - Email from Public Works dated February 2, 2022 - clarification on security Pmes
Victoria A. Feilmeyer
Asslst(r/tt Cil v Attorite ,
515.239.5146 inuin 1 515.239.5142 fux
victoria.feilmeyer@cityofames.orgI City Hall, 515 Clark Avenue Ames, IA 50010
www.CityofAmes.org I -Caring People-Quality Programs - Exceptional Service
From: Peterson, Tracy<tracy.peterson@cityofames.org>
Sent: Wednesday, February 2, 2022 3:33 PM
To: Moore,Justin <justin.moore@cityofames.org>; Cintron, Cesar<cesar.cintron@cityofames.org>; Feilmeyer, Victoria
<victoria.feilmeyer@cityofames.org>; Voss, Diane <diane.voss@cityofames.org>
Subject: Kingsbury 4th and 5th Additions- Financial Security clarification
In talking this morning, we thought it best to send out a clarification email (to clear up some confusion that
may be floating around).
The financial security for Kingsbury 4th Addition was split into two separate payments (Davis and Pyle). Some
of the work covered by
Pyle's financial security has been completed, thereby the LOC was reduced on Nov 4, 2020 (from $47,340 to
$26,515). None of the
work associated with Davis' financial security has been completed, therefore the entire $17,315 has continued
to be held.
Recently, a plat was submitted for Kingsbury 5th Addition to further divide Lot 1 (Davis). Our office reviewed
the financial security estimate. Later we
heard that it was thought that the financial security associated with Lot 1 of Kingsbury 4th would be released
now that financial
security for Kingsbury 5th was submitted.
There are items included with Kingsbury 4th Addition financial security that were not included in Kingsbury
5th Addition, that are
not able to be released. There is, however, duplicate financial security for a portion of 4-inch sidewalk with
each 4th and 5th Additions.
It appears that there are two options to remedy this conflict (I am open to exploring other options if others
have more ideas):
1. Keep the financial security for Kingsbury 5th Addition and release a portion of the financial security for
Kingsbury 4th associated with 4-inch sidewalk.
2. This would mean that a new LOC would be required for the remaining portion of financial security
required as part of Kingsbury 4th Addition.
3.
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4. Update the financial security and agreement for Kingsbury 5th Addition to include the necessary
pedestrian ramps, 6" sidewalk, and COSESCO remaining
5. from Kingsbury 4ch Addition. Upon receipt of this new financial security amount, Kingsbury 4th could be
released.
Do we need to agree on this before Legal or Planning reaches out to the applicant and their lawyer?
Tracy Peterson, PE
Municipal Engineer
Public Works Department
City Hall, 515 Clark Ave. I Ames, IA 50010
AfIW P m es-
515.239.5163 main
tract'.peterson Cq�cityofa mes.org
Mailing: 515 Clark Ave. I Ames, IA 50010
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