HomeMy WebLinkAboutCity Council Resolution 2021-295
C ITY OF P LYMOUTH
R ESOLUTION N O. 2021-295
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE FOR
T HE W OODS AT T AYLOR C REEK (2017110-F)
WHEREAS, in accordance with the development contract dated April 28, 2020, SVK Development, LLC,
developer of The Woods at Taylor Creek (2017110-F), 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. A054 for the items be reduced from $709,792 to $657,215:
Original Current New % of Original
Item Amount Amount Amount Amount
Street Construction
226,300 135,780 135,780 60%
Sanitary Sewer System
89,300 44,650 22,325 25%
Watermain System
153,400 76,700 38,350 25%
Storm Sewer System
291,500 145,750 72,875 25%
Boulevard and Drainage Swale Sod
9,800 9,800 9,800 100%
Pond Construction
10,000 10,000 10,000 100%
Filtration Basin
11,300 11,300 11,300 100%
Street and Traffic Control Signs
300 0 0 0%
Buffer/Park Posts & Signs ($100 per buffer
post)
2,000 2,000 0 0%
Sidewalk Improvements
43,100 25,860 25,860 60%
Landscaping
17,500 17,500 17,500 100%
Street Lighting
3,750 3,750 0 0%
Erosion control
29,500 22,125 22,125 75%
Site Grading & Drainage Improvements
270,000 229,500 229,500 85%
Setting Iron Monuments ($100 per iron)
8,500 8,500 8,500 100%
Removal / Restoration of Temp. Turn-Around
2,000 0 0 0%
Tree preservation
53,300 53,300 53,300 100%
Subtotal $1,221,550 $796,515 $657,215 54%
Design, Admin, Insp, As-Builts (8%) $97,724 $63,721 $52,577
Total $1,319,274 $860,236 $709,792 54%
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of
October 12, 2021, subject to the two-year guarantee by the Developer per Letter of Credit No. A054.
APPROVED by the City Council on this 12th day of October, 2021.