Resolution No. 2026-022 – A Resolution Approving the Partial Release of the Escrow for 80/380 Commerce Park First Addition — I.3

AGENDA ITEM # I-3 AGENDA INFORMATION TIFFIN CITY COUNCIL COMMUNICATION DATE: April 3, 2026 AGENDA ITEM: Resolution No. 2026-022 – A Resolution Approving the Partial Release of the Escrow for 80/380 Commerce Park First Addition ACTION: Motion Background The City Council approved the Final Plat for 80/380 Commerce Park First Addition on April 15, 2025. As a condition of that approval, the developer, 80/380 Commerce Park, LLC, entered into an escrow agreement with the City in the amount of $419,890.86 to ensure completion of public infrastructure improvements, including the Village Drive Extension. A walkthrough of the Village Drive Extension was conducted, and follow-up inspections were completed to evaluate construction status and remaining punch list items. Staff is requesting City Council approval of Resolution No. 2026-022, approving a partial release of escrow associated with the 80/380 Commerce Park First Addition. The escrow was established at the time of final plat approval to guarantee completion of required on-site and off-site public improvements. Based on inspections and recommendations from the City Engineer, the majority of the improvements have been substantially completed, and a partial release is appropriate at this time. City staff and the City Engineer conducted site visits on February 6, 2026, with a subsequent visit on April 2, 2026. As documented in the walkthrough and the Brain Engineering Status Update dated April 2, 2026, the following summarizes the current project status: • Major roadway, grading, stormwater, and utility infrastructure is substantially complete • Testing has been completed and results submitted • Construction debris removal, service stub verification, basin grading, outlet structure installation, and apron trash guards have been completed • Remaining items include: o Monitoring of reseeded areas for stabilization o Removal of erosion control after stabilization o Installation of street signage, pavement markings, and street lighting o Coordination on select tree removal and trimming o Final confirmation that intake throat openings meet SUDAS standards These remaining items are standard close-out activities and will remain secured by the remaining escrow balance. 1