HomeMy WebLinkAboutCity Council Resolution 2019-272
C ITY OF P LYMOUTH
R ESOLUTION N O. 2019-272
R ESOLUTION A CCEPTING S TREETS FOR C ONTINUAL M AINTENANCE
FOR V ICKSBURG R IDGE (2014091)
WHEREAS, in accordance with the development contract dated April 23, 2015, Vicksburg 5, LLC,
developers of Vicksburg Ridge (2014091), have 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 financial guarantee and Letter of Credit No. 296 for the items be reduced from $107,516 to
$65,843:
Original Current New % of Original
Item Amount Amount Amount Amount
Street Construction 98,552 59,131 24,638 25%
Sanitary Sewer 59,344 0 0 0%
Watermain 40,837 0 0 0%
Storm Sewer System 50,593 0 0 0%
Boulevard Sod & Silt Fence 6,000 2,100 2,100 35%
Retaining Walls 5,000 0 0 0%
Pond Construction 10,000 2,500 2,500 25%
Street and Traffic Control Signs 2,500 0 0 0%
Sidewalk Improvements 11,697 7,018 2,924 25%
Landscaping 5,000 5,000 5,000 100%
Street Lighting 4,125 0 0 0%
Erosion Control 20,100 7,035 7,035 35%
Site Grading and Drainage Improvements 78,455 11,768 11,768 15%
Setting Iron Monuments 3,800 0 0 0%
Removal of Temporary Turn-around 5,000 5,000 5,000 100%
Subtotal $401,003 $99,552 $60,966 15%
Design, Admin, Insp, As-Builts (8%) 32,080 7,964 4,877 8%
Total $433,083 $107,516 $65,843 15%
BE IT FURTHER RESOLVED that the streets are accepted for continuous maintenance as of
October 8, 2019, subject to the one-year guarantee by the Developer per Letter of Credit No. 296.
APPROVED by the City Council on this 8th day of October, 2019.