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Item 3.5 Releasing Securities for Boulder Pass Grading and Mineral Extraction Request for City Council Action DEPARTMENT INFORMATION ORIGINATING DEPARTMENT REQUESTOR: MEETING DATE: Public Works City Engineer Wagner February 9, 2026 PRESENTER(s) REVIEWED BY: ITEM #: Consent City Administrator/Finance Director Flaherty 3.5 – Release of Security STRATEGIC VISION MEETS: THE CITY OF OTSEGO: Is a strong organization that is committed to leading the community through innovative communication. X Has proactively expanded infrastructure to responsibly provide core services. Is committed to delivery of quality emergency service responsive to community needs and expectations in a cost-effective manner. Is a social community with diverse housing, service options, and employment opportunities. Is a distinctive, connected community known for its beauty and natural surroundings. AGENDA ITEM DETAILS RECOMMENDATION: Staff recommend the City Council approve release of securities regarding Boulder Pass Grading and Mineral Extraction. ARE YOU SEEKING APPROVAL OF A CONTRACT? IS A PUBLIC HEARING REQUIRED? No No BACKGROUND/JUSTIFICATION: Fehn Companies has a promissory note with the City to ensure that they adhered to the grading permit, which included mineral extraction for the area that is now Boulder Pass. One item the security may be used for was milling and overlaying for that portion of Quaday Avenue designated as the allowed haul road. When the street area (Quaday Avenue from the mine exit to CSAH 38) was reviewed, it was in no worse shape than any other section of Quaday and was milled and overlaid in 2024 as part of the City’s regular maintenance schedule. The security was also intended that when the gravel extraction was “trued up,” the security was there to ensure payment of the gravel extraction fee. However, since the County requires a fee, the City legally cannot impose an additional fee. Therefore, staff recommends release of all securities regarding Boulder Pass Grading and Mineral Extraction. SUPPORTING DOCUMENTS ATTACHED: • Resolution 2026-09 POSSIBLE MOTION PLEASE WORD MOTION AS YOU WOULD LIKE IT TO APPEAR IN THE MINUTES: Motion to adopt Resolution 2026-09 releasing securities regarding Boulder Pass Grading and Mineral Extraction. BUDGET INFORMATION FUNDING: BUDGETED: Fund 701 – Development Escrow N/A 1 CITY OF OTSEGO COUNTY OF WRIGHT STATE OF MINNESOTA RESOLUTION NO: 2026-09 RELEASING SECURITIES REGARDING BOULDER PASS GRADING AND MINERAL EXTRACTION WHEREAS, Fehn Companies Incorporated has a promissory note with the City to ensure that they adhered to the grading permit, which included mineral extraction for the area that is now Boulder Pass; and WHEREAS, the City and Fehn Companies Incorporated entered into a Grading Agreement; and WHEREAS, all requirements of the Grading Agreement have been met. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO, MINNESOTA: 1. Releases all financial securities regarding Boulder Pass Grading and Mineral Extraction. ADOPTED by the Otsego City Council this 9th day of February, 2026. MOTION BY: SECONDED BY: IN FAVOR: OPPOSED: CITY OF OTSEGO __________________________________ Jessica L. Stockamp, Mayor ATTEST: __________________________________ Audra Etzel, City Clerk