HomeMy WebLinkAboutCity Council Resolution 2021-285
C ITY OF P LYMOUTH
R ESOLUTION N O. 2021-285
R ESOLUTION A CCEPTING R EDUCTION IN D EVELOPMENT F INANCIAL G UARANTEE
C AMELOT N INE AT B EGIN 3 RD A DDITION (2017056)
WHEREAS, in accordance with the development contract dated June 27, 2017, Pulte Homes of
Minnesota, developer of Camelot Nine at Begin 3rd Addition (2017056), 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. S507187 for the items be reduced from $38,779 to $11,779:
% of
Original Current New Original
Item Amount Amount Amount Amount
Street Construction $ 141,880 0 $ - 0%
Sanitary Sewer System 132,625 0 0 0%
Watermain System 93,055 0 0 0%
Storm Sewer System 55,590 0 0 0%
Boulevard and Drainage Swale Sod 4,870 1,218 1,218 25%
Retaining Wall 25,000 25,000 0 0%
Street & Traffic Control Signs 1,600 0 0 0%
Sidewalk Improvements 27,300 0 0 0%
Trail Improvements 28,300 0 0 0%
Landscaping 38,755 9,689 9,689 25%
Street Lighting 3,500 0 0 0%
Setting Iron Monuments 15,500 0 0 0%
Subtotal $567,975 $35,906 $10,906 2%
Design, Admin, Insp, As-Builts (8%) $45,438 $2,873 $873
Total $613,413 $38,779 $11,779 2%
APPROVED by the City Council on this 12th Day of October, 2021.