HomeMy WebLinkAboutCity Council Resolution 2021-294
C ITY OF P LYMOUTH
R ESOLUTION N O. 2021-294
R ESOLUTION A CCEPTING R EDUCTION IN D EVELOPMENT F INANCIAL G UARANTEE
E NCLAVE AT E LM C REEK 2 ND A DDITION (2018002)
WHEREAS, in accordance with the development contract dated March 15, 2018, West Plymouth
Development, Inc., developer of Enclave at Elm Creek 2nd Addition (2018002), 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. 1166 for the items be reduced from $186,442 to $61,189:
% of
Original Current New
Item Original
Amount Amount Amount
Amount
Street Construction $463,900 115,975 0 0%
Sanitary Sewer System 213,400 0 0 0%
Watermain System 231,600 0 0 0%
Storm Sewer System 175,300 0 0 0%
Boulevard and Drainage Swale Sod/Seed 11,000 2,750 2,750 25%
Filtration Basin 2,650 1,325 1,325 50%
Street & Traffic Control Signs 2,000 0 0 0%
Wetland Buffer Posts & Signs 3,000 0 0 0%
Sidewalk Improvements 65,900 16,475 16,475 25%
Landscaping 54,900 27,450 27,450 50%
Street Lighting 8,750 0 0 0%
Erosion Control 28,125 7,031 7,031 25%
Site Drainage & Grading Improvements 6,500 1,625 1,625 25%
Setting Iron Monuments 20,300 0 0 0%
Subtotal 1,287,325 172,631 56,656 4%
Design, Admin, Inspection, As-Builts (8%) 102,986 13,811 4,533
Total 1,390,311 186,442 61,189 4%
APPROVED by the City Council on this 12th day of October, 2021.