HomeMy WebLinkAboutCity Council Resolution 2018-373
C ITY OF P LYMOUTH
R ESOLUTION N O. 2018-373
R ESOLUTION A CCEPTING S TREETS FOR C ONTINUAL M AINTENANCE FOR
E NCLAVE AT E LM C REEK (2017068) D EVELOPMENT A GREEMENT
WHEREAS, in accordance with the development agreement dated August 28, 2017, West
Plymouth Development, Inc., developer of Enclave at Elm Creek (2017068), has agreed to install certain
improvements for said development; and
WHEREAS, the developer has completed a portion of the street, utility and site grading related
to 54th Avenue 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. 1152 for the items be reduced from $475,335 to $256,284:
Original Current New % of Original
Item Amount Amount Amount Amount
Street Construction 450,000 270,000 112,500 25%
Sanitary Sewer System 212,000 53,000 53,000 25%
Watermain System 125,000 31,250 31,250 25%
Stom Sewer System 65,100 16,275 16,275 25%
Boulevard and Drainage Swale Sod 2,700 2,700 2,700 100%
Infiltration Basin 7,300 7,300 7,300 100%
Street & Traffic Control Signs 4,000 0 0 0%
Sidewalk Improvements 45,500 45,500 11,375 25%
Landscaping 20,000 0 0 0%
Street Lighting 4,000 0 0 0%
Site Grading & Drainage Improvements 11,600 11,600 2,900 25%
Setting Iron Monuments 2,500 2,500 0 0%
Subtotal $949,700 $440,125 $237,300 25%
Design, Admin, Insp, As-Builts (8%) $75,976 $35,210 $18,984 8%
Total $1,025,676 $475,335 $256,284 25%
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. 1152.
APPROVED by the City Council on this 11th day of December, 2018.