HomeMy WebLinkAboutCity Council Resolution 2019-294
C ITY OF P LYMOUTH
R ESOLUTION N O. 2019-294
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE FOR
P RESERVE AT M EADOW R IDGE (2015113)
WHEREAS, in accordance with the development contract dated June 8, 2016, The Preserve at
Meadow Ridge, LLC., developer of The Preserve at Meadow Ridge (2015113), 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. 201 for the items be reduced from $249,926 to $197,276:
% of
Original Current New Original
Item Amount Amount Amount Amount
Street Construction 112,000 67,200 67,200 60%
Sanitary Sewer 49,000 24,500 12,250 25%
Watermain 92,000 46,000 23,000 25%
Storm Sewer System 46,000 23,000 11,500 25%
Boulevard and Drainage Swale
Sod/Seed 5,000 3,500 3,500 70%
Retaining Walls 2,000 2,000 0 0%
Pond Construction 10,000 5,000 5,000 50%
Street & Traffic Control Signs 1,000 0 0 0%
Sidewalk 17,000 10,200 10,200 60%
Landscaping (not including front yard
trees) 3,500 3,500 3,500 100%
Street Lighting 8,000 0 0 0%
Erosion Control 17,000 10,200 10,200 60%
Site Grading and Drainage Improvement 90,000 22,500 22,500 25%
Setting Iron Monuments 3,800 0 0 0%
Tree Preservation and Reforestation 8,813 8,813 8,813 100%
Wetland Mitigation and Restoration 5,000 5,000 5,000 100%
Subtotal $470,113 $231,413 $182,663 39%
Design, Admin, Inspection, As-Builts
(8%) $37,609 $18,513 $14,613
Total $507,722 $249,926 $197,276 39%
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of
November 12, 2019, subject to the two-year guarantee by the Developer per Letter of Credit No. 201.
APPROVED by the City Council on this 12th day of November, 2019.