HomeMy WebLinkAboutCity Council Resolution 2021-268
C ITY OF P LYMOUTH
R ESOLUTION N O. 2021-268
R ESOLUTION A CCEPTING S TREETS FOR C ONTINUAL M AINTENANCE FOR
S UMMERS E DGE S OUTH 2 ND A DDITION (2017107F)
WHEREAS, in accordance with the development contract dated July 13, 2018, Summergate
Development, LLC, developer of Summers Edge South 2nd Addition (2017107F), 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. 840 for the items be reduced from $764,548 to $549,882:
% of
Original Current New Original
Item Amount Amount Amount Amount
Street Construction 511,000 306,600 127,750 25%
Sanitary Sewer System 210,200 52,550 52,550 25%
Watermain System 174,500 43,625 43,625 25%
Stom Sewer System 355,000 88,750 88,750 25%
Boulevard and Drainage Swale Sod 4,600 4,600 4,600 100%
Pond Construction 9,700 4,850 4,850 50%
Street & Traffic Control Signs 3,400 0 0 0%
Buffer/Park Posts & Signs 1,200 1,200 1,200 100%
Sidewalk Improvements 56,900 34,140 14,225 25%
Trail Improvements 10,700 0 0 0%
Landscaping 99,000 99,000 99,000 100%
Street Lighting 12,000 0 0 0%
Erosion Control 13,800 10,350 10,350 75%
Site Grading & Drainage
Improvements 249,000 62,250 62,250 25%
Setting Iron Monuments 5,000 0 0 0%
Removal of Temporary Turn-Around 1,000 0 0 0%
Subtotal $1,717,000 $707,915 $509,150 30%
Design, Admin, Insp, As-Builts (8%) $137,360 $56,633 $40,732
Total $1,854,360 $764,548 $549,882 30%
BE IT FURTHER RESOLVED that the streets are accepted for continuous maintenance as of
September 14, 2021, subject to the one-year guarantee by the Developer per Letter of Credit No. 840.
APPROVED by the City Council on this 28th day of September, 2021.