HomeMy WebLinkAboutCity Council Resolution 2018-370
C ITY OF P LYMOUTH
R ESOLUTION N O. 2018-370
R ESOLUTION A CCEPTING S TREETS FOR C ONTINUAL M AINTENANCE FOR
S ERENITY ON THE G REENWAY 2 ND A DDITION (2015057)
WHEREAS, in accordance with the development contract dated August 17, 2015, Serenity on the
Green, Inc., developer of Serenity on the Greenway 2nd Addition (2015057), has agreed to install certain
improvements for said development; and
WHEREAS, the developer has completed a portion of the street, utility and site grading as noted
below; and
WHEREAS, the developer has requested a reduction of the required financial guarantee to
reflect the completed work.
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA that the financial guarantee requirements are reduced as follows below and that the
required guarantee and Letter of Credit No. 318 for the items be reduced from $226,753 to $112,804:
Original Current New % of Original
Item Amount Amount Amount Amount
Street Construction 347,252 173,626 86,813 25%
Sanitary Sewer 199,685 0 0 0%
Watermain 150,650 0 0 0%
Storm Sewer System 100,535 0 0 0%
Boulevard and Drainage Swale Sod/Seed 10,370 4,667 3,630 35%
Retaining Walls 20,000 0 0 0%
Street & Traffic Control Signs 1,550 0 0 0%
Sidewalk 43,923 26,354 10,981 25%
Trail 5,100 3,060 1,275 25%
Street Lighting 16,125 0 0 0%
Erosion Control 5,000 2,250 1,750 35%
Setting Iron Monuments 11,200 0 0 0%
Subtotal $911,390 $209,956 $104,448 11%
Design, Admin, Inspection, As-Builts(8%) $72,911 $16,797 $8,356
Total $984,301 $226,753 $112,804 11%
BE IT FURTHER RESOLVED that the streets are accepted for continuous maintenance as of
December 11, 2018, subject to the one-year guarantee by the Developer per Letter of Credit No. 318.
APPROVED by the City Council on this 11th day of December, 2018.