HomeMy WebLinkAboutCity Council Resolution 2020-307
C ITY OF P LYMOUTH
R ESOLUTION N O. 2020-307
R ESOLUTION A CCEPTING S TREETS FOR C ONTINUAL M AINTENANCE FOR
A SPEN H OLLOW 3 RD A DDITION (2018003)
WHEREAS, in accordance with the development contract dated March 30, 2018, Pulte Homes of
Minnesota, LLC, developer of Aspen Hollow 3rd Addition (2018003), 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. S507565 for the items be reduced from $274,406 to
$180,225:
Original Current New % of Original
Item Amount Amount Amount Amount
Street Construction $193,000 115,800 $48,250 25%
Sanitary Sewer System 68,800 17,200 17,200 25%
Watermain System 63,300 15,825 15,825 25%
Storm Sewer System 64,400 16,100 16,100 25%
Boulevard and Drainage Swale Sod 16,200 16,200 8,100 50%
Retaining Walls 30,300 30,300 30,300 100%
Street and Traffic Control Signs 700 0 0 0%
Sidewalk Improvements 19,800 11,880 4,950 25%
Landscaping 16,900 16,900 16,900 100%
Street Lighting 3,800 0 0 0%
Erosion Control 18,500 13,875 9,250 50%
Setting Iron Monuments 7,700 0 0 0%
Removal of Temporary Turn-around(s) 5,000 0 0 0%
Subtotal $508,400 $254,080 $166,875 33%
Design, Admin, Inspec, As-Builts (8%) $40,672 $20,326 $13,350
Total $549,072 $274,406 $180,225 33%
BE IT FURTHER RESOLVED that the streets are accepted for continuous maintenance as of
November 24, 2020, subject to the one-year guarantee by the Developer per Letter of Credit No.
S507565.
APPROVED by the City Council on this 24th day of November, 2020.