HomeMy WebLinkAboutCity Council Resolution 2021-283
C ITY OF P LYMOUTH
R ESOLUTION N O. 2021-283
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 2 ND A DDITION (2019036)
WHEREAS, in accordance with the development contract dated September 13, 2019, Weg –
Beacon Ridge, LLC, developer of Beacon Ridge 2nd Addition (2019036), 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 deposit payable no. A2019036 for the items be reduced from $153,792 to $102,087:
% of
Original Current New Original
Item Amount Amount Amount Amount
Street Construction 97,000 58,200 24,250 25%
Sanitary Sewer System 102,400 25,600 25,600 25%
Watermain System 68,700 17,175 17,175 25%
Storm Sewer System 56,400 14,100 14,100 25%
Boulevard and Drainage Swale Sod 6,400 6,400 0 0%
Street & Traffic Control Signs 700 0 0 0%
Wetland Buffer Posts & Signs 700 0 0 0%
Sidewalk Improvements 18,500 11,100 4,625 25%
Landscaping 5,000 5,000 5,000 100%
Street Lighting 2,000 0 0 0%
Erosion Control 2,100 1,575 525 25%
Site Grading & Drainage Improvements 13,000 3,250 3,250 25%
Setting Iron Monuments 4,900 0 0 0%
Subtotal $377,800 $142,400 $94,525 25%
Design, Admin, Insp, As-Builts (8%) $30,224 $11,392 $7,562
Total $408,024 $153,792 $102,087 25%
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 no.
A2019036.
APPROVED by the City Council on this 12th day of October, 2021.