HomeMy WebLinkAbout0255 Kennedy Drive - Landscaping - 8/10/2023TABLE 1
Hillside Master Plan
Letter of Credit (LOC)
Description
Current Letter of
Credit Balance
Table 2 Value of Work
Remaining to Complete
Table 3 Value of Work
Remaining to Complete
Table 4 Value of Work
Remaining to Complete
LOC Excess/Deficit (Current
LOC Balance less Value of
Work Remaining to
Complete from Tables 2, 3
and 4
New/Adjusted LOC Total
(Current LOC Balance less
Excess/Deficit)
Infrastructure 821,012.77$ 356,630.93$ -$ 484,461.83$ (20,080.00)$ 841,092.77$
Landscape 172,641.20$ -$ 2,165.52$ -$ 170,475.68$ 172,641.20$
TABLE 2
Existing Letters of Credit (LOC) for Infrastructure and Street Trees
ZP Reference(s)
Hillside Master Plan
Phase
Infrastructure Budget
Approved by DPW
Includes 10%
Contingency
Street Tree Budget
Approved at Final Plat
(Includes 10% Contingency)
Total LOC Amount (Sum of
Budgets for Infrastructure and
Street Trees)
Percentage of Total LOC
Amount Complete
Value of Work Remaining to
Complete (Total LOC Amount
less Amount Complete)
Amount Required to
Secure Remaining Work
Phase 1a 240,222.00$ 10,430.00$ 250,652.00$ 100% $ - $ 25,065.20
Phase 1b 398,429.90$ 20,115.00$ 418,544.90$ 100% $ - $ 41,854.49
Phase 2 518,326.60$ 17,135.00$ 535,461.60$ 98% $ 10,709.23 $ 53,546.16
ZP-19-024 Phase 3 677,402.62$ 30,545.00$ 707,947.62$ 98% $ 14,158.95 $ 70,794.76
ZP-20-301 Phase 4**604,376.31$ 11,175.00$ 615,551.31$ 98% $ 12,311.03 $ 61,555.13
ZP-20-320 Phase 5 662,569.79$ 22,350.00$ 684,919.79$ 98% $ 13,698.40 $ 68,491.98
Phase 6*-$ $ -
Phase 7*-$ $ -
ZP-20-321 Phase 8 104,901.76$ 7,450.00$ 112,351.76$ 100% $ - $ 11,235.18
Phase 9 40,080.35$ -$ 40,080.35$ 100% $ - $ 4,008.04
SP-22-043 Rec Path 20,080.00$ 20,080.00$ 0% $ 20,080.00 $ 20,080.00
Totals 3,266,389.33$ 119,200.00$ 3,365,509.33$ 356,630.93$
TABLE 3
Required Landscaping Based on Sheet L0.0 Last Revised 7/27/17
ZP Reference(s)
Hillside Master Plan
Phase
Landscaping Budget
Approved at Final Plat
LOC Amount Required
Under LDR effective 2020-
12-28 Adjusted LOC Amount
Percent Complete as of
05/23/2022
Percent Complete as of
07/31/23
Value of Work Remaining to
Complete (Adjusted LOC
Amount Less Percent Complete)
Value of Work to be
Released on 05/23/2025
(Adjusted LOC
Amount*Percent
Complete)
Value of Work to be
Released on 07/31/2026
(Adjusted LOC
Amount*Percent
Complete)
Ordinance Base Fee $ - $ 10,000.00 $ 10,000.00 63.83%95.70%430.00$ 6,383.33$ 3,186.67$
Phase 1A 41,031.57$ 20,515.79$ 20,515.79$ 100.00%100.00%-$ 20,515.79$ -$
Phase IB 48,258.23$ 24,129.12$ 24,129.12$ 100.00%100.00%-$ 24,129.12$ -$
Phase 2A 54,681.78$ 27,340.89$ 27,340.89$ 100.00%100.00%-$ 27,340.89$ -$
Phase 2B 10,869.36$ 5,434.68$ 5,434.68$ 100.00%100.00%-$ 5,434.68$ -$
Phase 3A 31,103.74$ 15,551.87$ 15,551.87$ 51.00%100.00%-$ 7,931.45$ 7,620.42$
Phase 3B 48,589.92$ 24,294.96$ 24,294.96$ 92.00%100.00%-$ 22,351.36$ 1,943.60$
ZP-21-317/320/321 Phase 4 40,543.83$ 20,271.92$ 20,271.92$ 66.00%100.00%-$ 13,379.46$ 6,892.45$
ZP-21-318/319 Phase 5 39,567.70$ 19,783.85$ 19,783.85$ 8.00%100.00%-$ 1,582.71$ 18,201.14$
Phase 6*** 12,309.08$ -$ -$ 0.00%-$ -$ -$
Phase 7***308.51$ -$ -$ 0.00%-$ -$ -$
ZP-20-322 Phase 8 2,564.07$ 1,282.04$ 1,282.04$ 100.00%100.00%-$ 1,282.04$ -$
Phase 9 8,072.20$ 4,036.10$ 4,036.10$ 49.00%57.00%1,735.52$ 1,977.69$ 322.89$
Totals 337,899.99$ 172,641.20$ 172,641.20$ 2,165.52$ 132,308.52$ 38,167.16$
* These Phases are included in Table 4, below, at their updated values as amended by SD-21-25.
**The value of street trees for Phase 4 is reduced according to approved changes to the phasing schedule which moved a portion of Phase 4 to Multi-family 6, see Table 4.
*** These Phases are replaced by Multi-family 6,7, and 8. The original values are shown on Table 3, but see Table 4 for the updated values.
TABLE 4
Infrastructure Improvements SD-21-25 Phasing Plan PH-1 Dated 1/28/22
ZP Reference(s)
Hillside Master Plan
Phase
Infrastructure Budget
Approved by DPW
(includes 10%
contingency)
Street Tree Budget
Approved at Final Plat
(includes 10% contingency)
Total LOC Amount (Sum of
Infrastructure and Street Tree
Budgets)
Percentage of Total LOC
Amount Complete
Value of Work Remaining to
Complete (Total LOC Amount
Less Amount Complete)
Amount Required to
Secure Remaining Work
Multifamily 6
Infrastructure $ 721,512.31 56,166.00$ 777,678.31$ 67%259,149.04$ 259,149.04$
Multifamily 7
Infrastructure 441,880.64$ 24,167.00$ 466,047.64$ 52%225,312.80$ 225,312.80$
Total Infrastructure 1,163,392.95$ 1,243,725.95$ 484,461.83$ 484,461.83$