HomeMy WebLinkAboutCity Council Resolution 2019-277
C ITY OF P LYMOUTH
R ESOLUTION N O. 2019-277
R ESOLUTION A CCEPTING S TREETS FOR C ONTINUAL M AINTENANCE
FOR V ILLAS AT C OPPER C REEK 2 ND A DDITION (2017007)
WHEREAS, in accordance with the development contract dated April 11, 2017, Villas at Copper
Creek, Inc., developers of Villas at Copper Creek 2nd Addition (2017007), 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. 431 for the items be reduced from $114,991 to
$37,780:
% of
Original Current New Original
Item Amount Amount Amount Amount
Street Construction 116,175 69,705 29,044 25%
Sanitary Sewer System 46,200 11,550 0 0%
Watermain System 52,550 13,138 0 0%
Boulevard and Drainage Swale
Sod/Seed 1,550 1,550 1,550 100%
Street & Traffic Control Signs 1,700 0 0 0%
Sidewalk Improvements 17,550 10,530 4,388 25%
Street Lighting 3,000 0 0 0%
Setting Iron Monuments 5,200 0 0 0%
Subtotal $251,725 $106,473 $34,981 14%
Design, Admin, Inspec, As-Builts (8%) $20,138 $8,518 $2,799 8%
Total $271,863 $114,991 $37,780 14%
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. 431.
APPROVED by the City Council on this 8th day of October, 2019.