HomeMy WebLinkAboutCity Council Resolution 2022-048
C ITY OF P LYMOUTH
R ESOLUTION N O. 2022-048
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE FOR
M EADOW R IDGE E STATES (2018014)
WHEREAS, in accordance with the development contract dated August 13, 2021, R&R Island
View, LLC, developer of Meadow Ridge Estates (2018014), 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. 511 for the items be reduced from $323,989 to $244,787:
Original Current New % of Original
ITEM
Amount Amount Amount Amount
Street Construction $150,400 $90,240 $90,240
60%
Sanitary Sewer System $48,000 $24,000 $12,000
25%
Watermain System $72,500 $36,250 $18,125
25%
Storm Sewer System $59,200 $29,600 $14,800
25%
Boulevard and Drainage Swale Sod $2,900 $2,900 $2,900
100%
Pond Construction $6,600 $6,600 $6,600
100%
Street and Traffic Control Signs $1,000 $0 $0
0%
Buffer/Park Posts & Signs $4,000 $4,000 $4,000
100%
Sidewalk Improvements $16,100 $16,100 $16,100
100%
Landscaping $6,600 $6,600 $6,600
100%
Street Lighting $2,500 $0 $0
0%
Erosion control $9,600 $7,200 $7,200
75%
Site Grading & Drainage Improvements $68,700 $68,700 $48,090
70%
Setting Iron Monuments $3,400 $3,400 $0
0%
Tree preservation $4,400 $4,400 $0
0%
Wetland Mitigation $50,000 $0 $0
0%
Sub-Total $505,900 $299,990 $226,655 45%
Design, Admin. Insp, As-builts (8%) $40,472 $23,999 $18,132
TOTAL $546,372 $323,989 $244,787 45%
Resolution 2022-048
Page 2
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of
February 22, 2022, subject to the two-year guarantee by the Developer per Letter of Credit No. 511.
APPROVED by the City Council on this 22nd day of February, 2022.