HomeMy WebLinkAboutCity Council Resolution 2020-225
C ITY OF P LYMOUTH
R ESOLUTION N O. 2020-225
R ESOLUTION A CCEPTING S TREETS FOR C ONTINUAL M AINTENANCE FOR
P LYMOUTH P RESERVE (2014010)
WHEREAS, in accordance with the development contract dated September 26, 2014, Plymouth
Preserve, LLC, developer of Plymouth Preserve (2014010), 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 cash guarantee and Letter of Credit No. 4990241 for the items be reduced from $123,264 to
$75,195:
Original Previous New % of Original
Item Amount Amount Amount Amount
Street Construction 216,392 86,557 54,098 25%
Sanitary Sewer 166,700 0 0 0%
Watermain 119,500 0 0 0%
Storm Sewer System 103,950 0 0 0%
Retaining Walls 30,000 0 0 0%
Pond Construction 10,000 4,000 2,500 25%
Construct Temp. CDS Turn-arounds 12,000 0 0 0%
Street and Traffic Control Signs 1,525 0 0 0%
Sidewalk Improvements 25,578 10,231 6,395 25%
Trail Improvements 15,000 6,000 3,750 25%
Landscaping 17,850 4,463 0 0%
Street lights 10,125 0 0 0%
Erosion Control and Boulevard Sod 5,240 2,882 2,882 55%
Site Grading & Drainage Improvements 426,405 0 0 0%
Setting Iron Monuments 8,100 0 0 0%
Removal of Temp. Turn-arounds 5,000 0 0 0%
Tree Preservation and Reforestation 43,950 0 0 0%
Wetland Mitigation and restoration 8,300 0 0 0%
Subtotal $1,225,615 $114,133 $69,625 6%
Design, Admin., Insp., As-Builts (8%
held) 98,049 9,131 5,570 6%
Total $1,323,664 $123,264 $75,195 6%
BE IT FURTHER RESOLVED that the streets are accepted for continuous maintenance as of August
25, 2020, subject to the one-year guarantee by the Developer per Letter of Credit No. 4990241 and cash
guarantee.
APPROVED by the City Council on this 25th day of August, 2020.