HomeMy WebLinkAboutCity Council Resolution 2021-009
C ITY OF P LYMOUTH
R ESOLUTION N O. 2021-009
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE FOR
W ESTIN R IDGE (2018078)
WHEREAS, in accordance with the development contract dated August 27, 2019, West Plymouth
Development, Inc., developer of Westin Ridge (2018078), 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; and
WHEREAS, the required financial guarantee has been modified to reflect the amount of Site
Grading and Drainage Improvements that has been transferred to the 2nd Addition.
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. 1224 for the items be reduced from $1,216,474 to
$864,011:
Original Current New Amount % of Original
Item Amount (1) Amount (2) (3) Amount
Street Construction 465,600 279,360 279,360 60%
Sanitary Sewer System 287,400 143,700 71,850 25%
Watermain System 385,000 192,500 96,250 25%
Storm Sewer System 296,400 148,200 74,100 25%
Boulevard and Drainage Swale Sod 10,000 10,000 7,500 75%
Retaining Walls 11,900 11,900 11,900 100%
Pond Construction 15,800 15,800 15,800 100%
Infiltration Basin 35,600 35,600 35,600 100%
Street & Traffic Control Signs 1,700 0 0 0%
Wetland Buffer Posts & Signs 2,400 0 0 0%
Sidewalk Improvements 62,000 37,200 37,200 60%
Trail Improvements 38,800 38,800 38,800 100%
Landscaping 15,000 15,000 15,000 100%
Street Lighting 5,000 0 0 0%
Site Grading & Drainage (4) 233,300 198,305 116,650 50%
Setting Iron Monuments 18,300 0 0 0%
Subtotal $1,884,200 $1,126,365 $800,010 42%
Design, Admin, Inspect, As-Builts (8%) $150,736 $90,109 $64,001
Total $2,034,936 $1,216,474 $864,011 42%
(1) Original LoC was $2,334,096, including 8% for Design, Admin, Inspections and As-builts
(2) For reference, the LoC was reduced previously on August 14, 2020.
(3) Based on the Original line item dollar amount, multiplied by the percentage of reduction.
(4) Site Drainage and Grading Improvements Adjustments to Original LoC.
Original LoC Line Item Amount $510,300
Transfer to 2nd Addition ($277,000)
Revised Site Drainage and Grading Improvements Amount $233,300
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of
January 12, 2021, subject to the two-year guarantee by the Developer per Letter of Credit No. 1224.
APPROVED by the City Council on this 12th day of January, 2021.