CITY OF PEWAUKEE
Common Council AGENDA ITEM 3.4
| DATE: | November 20, 2017
| | DEPARTMENT: | PW - Engineering
| | PROVIDED BY: | Jeffrey Weigel, PE Public Works Director & City Engineer |
SUBJECT:
Approval of Resolution 17-11-14 Accepting the Public Improvements of the Victoria Station IV Development and to Approve the Expiration of the Letter of Credit (Midland State Bank) in the Amount of $8,827.60 on November 21, 2017
BACKGROUND:
The fourth phase of the Victoria Station development began in 2014. The Common Council approved the reduction of the letter of credit to the 1-year warranty value of $8,827.60 at the November 21, 2016 meeting; however, we did not prepare the resolution accepting the improvements at that time as is usual protocol. The Council approved the reduction and the warranty period began. At this time we are presenting the resolution of acceptance to complete the file/record.
FINANCIAL IMPACT:
There is no definable fiscal impact; however, the acceptance of these improvements now brings the City responsibility to maintain said improvements from Nov. 21, 2016.
RECOMMENDED MOTION:
We recommend that the Common Council approves the attendant Resolution of Acceptance, understanding that the actual acceptance date was Nov. 21, 2017; and Common Council approves the expiration of the warranty letter of credit to expire on Nov. 21, 2017.
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