HomeMy WebLinkAboutCity Council Resolution 2020-105
C ITY OF P LYMOUTH
R ESOLUTION N O. 2020-105
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE FOR
B EACON R IDGE 1 ST A DDITION (2017053)
WHEREAS, in accordance with the development contract dated May 15, 2019, Weg-Beacon
Ridge, LLC, developer of Beacon Ridge 1st Addition (2017053), 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. S12001116 for the items be reduced from $870,696 to
$463,158:
% of
Original New Original
Item Amount Amount Amount
Street Construction 181,000 108,600 60%
Sanitary Sewer System 112,500 28,125 25%
Watermain System 115,800 28,950 25%
Stom Sewer System 159,500 39,875 25%
Boulevard and Drainage Swale Sod 10,700 10,700 100%
Filtration Basin 14,200 14,200 100%
Street & Traffic Control Signs 2,700 0 0%
Wetland Buffer Posts & Signs 1,200 1,200 100%
Sidewalk Improvements 39,500 39,500 100%
Landscaping 5,000 5,000 100%
Street Lighting 6,000 0 0%
Erosion Control 21,600 16,200 75%
Site Grading & Drainage Improvements 34,000 34,000 100%
Setting Iron Monuments 6,700 6,700 100%
Tree Preservation / Protection 95,800 95,800 100%
Subtotal $806,200 $428,850 53%
Design, Admin, Insp, As-Builts (8%) $64,496 $34,308
Total $870,696 $463,158 53%
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of March
24, 2020, subject to the two-year guarantee by the Developer per Letter of Credit No. S12001116.
APPROVED by the City Council on this 24th day of March, 2020.