HomeMy WebLinkAboutCity Council Resolution 2020-256City of Plymouth
Resolution No. 2020-256
Resolution Accepting Streets for Continual Maintenance for
Summers Edge South (2017008)
WHEREAS, in accordance with the development contract dated May 9, 2017, Summergate Development, LLC., developer of Summers Edge South (2017008), 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. 754 for the items be reduced from $561,864 to $262,475:
Item
Original Amount
Current Amount
New Amount
% of Original Amount
Street Construction
435,000
261,000
108,750
25%
Sanitary Sewer System
210,000
0
0
0%
Watermain System
215,000
0
0
0%
Storm Sewer System
245,000
0
0
0%
Boulevard and Drainage Swale Sod
18,000
5,400
4,500
25%
Pond Construction
25,000
12,500
12,500
50%
Street & Traffic Control Signs
2,500
0
0
0%
Sidewalk Improvements
55,000
33,000
13,750
25%
Landscaping
128,750
128,750
32,188
25%
Street Lighting
12,000
0
0
0%
Erosion Control
33,000
16,500
8,250
25%
Site Grading & Drainage Improvements
345,000
51,750
51,750
15%
Setting Iron Monuments
8,000
0
0
0%
Tree Preservation and Reforestation
11,344
11,344
11,344
100%
Subtotal
$1,743,594
$520,244
$243,032
14%
Design, Admin, Insp, As-Builts (8%)
$95,487
$41,620
$19,443
Total
$1,883,081
$561,864
$262,475
14%
BE IT FURTHER RESOLVED that the streets are accepted for continuous maintenance as of September 22, 2020, subject to the one-year guarantee by the Developer per Letter of Credit No.
754.
APPROVED by the City Council on this 22nd day of September, 2020.