HomeMy WebLinkAboutCity Council Resolution 2021-282
C ITY OF P LYMOUTH
R ESOLUTION N O. 2021-282
R ESOLUTION A CCEPTING S TREETS FOR C ONTINUAL M AINTENANCE FOR
L ETTER O F C REDIT R EDUCTION F OR B EACON R IDGE (2017053F)
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WHEREAS, in accordance with the development contract dated May 15, 2019, Weg – Beacon
Ridge, LLC, developer of Beacon Ridge 1st Addition (2017053F), 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 deposit payable number A2017053F for the items be reduced from $278,559 to
$195,210:
% of
Original Current New Original
Item Amount Amount Amount Amount
Street Construction 181,000 108,600 45,250 25%
Sanitary Sewer System 112,500 28,125 28,125 25%
Watermain System 115,800 28,950 28,950 25%
Storm Sewer System 159,500 39,875 39,875 25%
Boulevard and Drainage Swale Sod 10,700 2,675 2,675 25%
Filtration Basin 14,200 7,100 7,100 50%
Street & Traffic Control Signs 2,700 0 0 0%
Wetland Buffer Posts & Signs 1,200 0 0 0%
Sidewalk Improvements 39,500 23,700 9,875 25%
Landscaping 5,000 5,000 5,000 100%
Street Lighting 6,000 0 0 0%
Erosion Control 21,600 5,400 5,400 25%
Site Grading & Drainage Improvements 34,000 8,500 8,500 25%
Setting Iron Monuments 6,700 0 0 0%
Tree Preservation / Protection 95,800 0 0 0%
Subtotal $806,200 $257,925 $180,750 22%
Design, Admin, Insp, As-Builts (8%) $64,496 $20,634 $14,460
Total $870,696 $278,559 $195,210 22%
BE IT FURTHER RESOLVED that the streets are accepted for continuous maintenance as of
October 12, 2021, subject to the one-year guarantee by the Developer per Deposit payable number
A2017053F.
APPROVED by the City Council on this 12th day of October, 2021.