HomeMy WebLinkAboutCity Council Resolution 2020-229
C ITY OF P LYMOUTH
R ESOLUTION N O. 2020-229
R ESOLUTION A CCEPTING S TREETS FOR C ONTINUAL M AINTENANCE FOR
C REEKSIDE H ILLS 3 RD A DDITION (2018007)
WHEREAS, in accordance with the development contract dated May 18, 2018, Creekside Hills
Development, Inc., developer of Creekside Hills 3rd Addition (2018007), 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. 1176 for the items be reduced from $543,424 to $370,305:
Original Current New % of Original
Item Amount Amount Amount Amount
Street Construction 330,900 198,540 82,725 25%
Sanitary Sewer System 257,400 64,350 64,350 25%
Watermain System 141,300 35,325 35,325 25%
Storm Sewer System 177,300 44,325 44,325 25%
Boulevard and Drainage Swale Sod/Seed 7,200 3,600 3,600 50%
Filtration Basin 25,600 25,600 12,800 50%
Street & Traffic Control Signs 3,000 0 0 0%
Wetland Buffer Posts & Signs 3,000 0 0 0%
Sidewalk Improvements 47,800 28,680 11,950 25%
Landscaping 23,000 23,000 8,050 35%
Street Lighting 6,300 0 0 0%
Erosion Control 27,500 13,750 13,750 50%
Site Drainage & Grading Improvements 132,000 66,000 66,000 50%
Setting Iron Monuments 10,500 0 0 0%
Subtotal $1,192,800 $503,170 $342,875 29%
Design, Admin, Inspection, As-Builts (8%) $95,400 $40,254 $27,430
Total $1,288,200 $543,424 $370,305 29%
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. 1176.
APPROVED by the City Council on this 25th day of August, 2020.