HomeMy WebLinkAboutCity Council Resolution 2019-238
C ITY OF P LYMOUTH
R ESOLUTION N O. 2019-238
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE FOR
C REEKSIDE H ILLS 3 RD A DDITION (2018007)
WHEREAS, in accordance with the development contract dated May 18, 2018, Creekside Hills
Development, Inc., developer of Creekside Hills 3rd Addition (2018007), 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. 1176 for the items be reduced from $739,093 to $579,118:
Original Current New % of Original
Item Amount Amount Amount Amount
Street Construction 330,900 198,540 198,540 60%
Sanitary Sewer System 257,400 128,700 64,350 25%
Watermain System 141,300 70,650 35,325 25%
Storm Sewer System 177,300 88,650 44,325 25%
Boulevard and Drainage Swale Sod/Seed 7,200 7,200 7,200 100%
Filtration Basin 25,600 25,600 25,600 100%
Street & Traffic Control Signs 3,000 0 0 0%
Wetland Buffer Posts & Signs 3,000 3,000 3,000 100%
Sidewalk Improvements 47,800 28,680 28,680 60%
Landscaping 23,000 23,000 23,000 100%
Street Lighting 6,300 0 0 0%
Erosion Control 27,500 20,625 16,500 60%
Site Drainage & Grading Improvements (at 50%) 132,000 79,200 79,200 60%
Setting Iron Monuments 10,500 10,500 10,500 100%
Subtotal $1,192,800 $684,345 $536,220 45%
Design, Admin, Inspection, As-Builts (8%) $95,400 $54,748 $42,898 8%
Total $1,288,200 $739,093 $579,118 45%
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of
August 27, 2019, subject to the two-year guarantee by the Developer per Letter of Credit No. 1176.
APPROVED by the City Council on this 27th day of August, 2019.