HomeMy WebLinkAboutCity Council Resolution 2021-080
C ITY OF P LYMOUTH
R ESOLUTION N O. 2021-080
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL
M AINTENANCE FOR T IMBERS E DGE (2018044)
WHEREAS, in accordance with the development contract dated September 5, 2019, Timbers
Edge Development, LLC, developer of Timbers Edge (2018044), 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
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. 9100378273 for the items be reduced from $1,205,410 to
$707,006:
% of
Original Current New Original
Item Amount Amount Amount Amount
Street Construction 193,900 193,900 116,340 60%
Holly Lane Reconstruction 146,200 146,200 146,200 100%
Sanitary Sewer System 156,100 93,660 39,025 25%
Watermain System 121,700 73,020 30,425 25%
Storm Sewer System 180,900 108,540 45,225 25%
Boulevard and Drainage Swale Sod 9,200 9,200 9,200 100%
Pond Construction 5,100 5,100 5,100 100%
Filtration Basin 4,600 4,600 4,600 100%
Street and Traffic Control Signs 4,200 4,200 0 0%
Wetland Buffer Posts & Signs 700 0 0 0%
Sidewalk Improvements 36,700 36,700 22,020 60%
Trail Improvements 14,500 14,500 14,500 100%
Landscaping 15,000 15,000 15,000 100%
Street Lighting 3,000 3,000 0 0%
Erosion Control 24,000 18,000 18,000 75%
Site Grading & Drainage Improvements 300,000 300,000 189,000 63%
Setting Iron Monuments 12,000 12,000 0 0%
Tree Preservation/Protection 78,500 78,500 0 0%
Subtotal $1,306,300 $1,116,120 $654,635 50%
Design, Admin, Insp, As-Builts (8%) $104,504 $89,290 $52,371
Total $1,410,804 $1,205,410 $707,006 50%
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of March
9, 2021, subject to the two-year guarantee by the Developer per Letter of Credit No. 9100378273.
APPROVED by the City Council on this 9th day of March, 2021.