HomeMy WebLinkAboutCity Council Resolution 2018-371
C ITY OF P LYMOUTH
R ESOLUTION N O. 2018-371
R ESOLUTION A CCEPTING S TREETS FOR C ONTINUAL M AINTENANCE FOR
V ILLAS AT C OPPER C REEK (2015052)
WHEREAS, in accordance with the development contract dated April 27, 2016, Villas at Copper
Creek, Inc., developer of Villas at Copper Creek (2015052), 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. 430 for the items be reduced from $328,914 to $211,408:
Original Current New % of Original
Item Amount Amount Amount Amount
Street Construction 233,494 140,096 58,374 25%
Sanitary Sewer 144,347 36,087 36,087 25%
Watermain 142,267 35,567 35,567 25%
Storm Sewer System 176,575 44,144 44,144 25%
Boulevard and Drainage Swale Sod/Seed 6,670 6,670 0 0%
Retaining Walls 30,000 0 0 0%
Pond Construction 30,000 15,000 15,000 50%
Street & Traffic Control Signs 2,850 0 0 0%
Sidewalk 26,310 15,786 6,578 25%
Street Lighting 13,500 0 0 0%
Setting Iron Monuments 11,200 11,200 0 0%
Subtotal $817,213 $304,550 $195,748 24%
Design, Admin, Inspection, As-Builts(8%) $65,377 $24,364 $15,660 8%
Total $882,590 $328,914 $211,408 24%
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. 430.
APPROVED by the City Council on this 11th day of December, 2018.