HomeMy WebLinkAboutCity Council Resolution 2022-083
CITY OF PLYMOUTH
RESOLUTION NO. 2022-083
RESOLUTION ACCEPTING UTILITIES FOR CONTINUAL MAINTENANCE FOR
PERL GARDENS (2020058)
WHEREAS, in accordance with the development contract dated September 29, 2020, Rachel
Development Inc, developer of PERL GARDENS (2020058), has agreed to install certain improvements
for said development; and
WHEREAS, the developer has completed portions 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 and released as follows below and
that the required guarantee and Letter of Credit No. 329 for the items be reduced from $1,378,998 to
$1,156,275:
Item
Original
Amount
Current
Amount
New
Amount
% of Original
Amount
Street Construction 369,400 221,640 221,640 60%
Turn Lane Construction 75,200 45,120 45,120 60%
Sanitary Sewer System 241,600 120,800 60,400 25%
Watermain System 196,600 98,300 49,150 25%
Storm Sewer System 251,500 125,750 62,875 25%
Boulevard and Drainage Swale Sod/Seed 7,800 7,800 7,800 100%
Filtration Basin 58,500 58,500 58,500 100%
Retaining Walls 297,000 297,000 297,000 100%
Street & Traffic Control Signs 8,200 0 0 0%
Sidewalk Improvements 19,200 19,200 19,200 100%
Trail Improvements 13,400 8,040 8,040 60%
Landscaping 54,200 54,200 54,200 100%
Street Lighting 10,000 0 0 0%
Erosion Control 8,400 8,400 6,300 75%
Site Drainage & Grading Improvements 194,000 194,000 164,900 85%
Setting Iron Monuments 15,500 15,500 15,500 100%
Tree Preservation 2,600 2,600 0 0%
Subtotal $1,823,100 $1,276,850 $1,070,625 59%
Design, Admin, Inspection, As-Builts (8%) $145,848 $102,148 $85,650
Total $1,968,948 $1,378,998 $1,156,275 59%
Resolution 2022-083
Page 2
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of March
22, 2022, subject to the two-year guarantee by the Developer per Letter of Credit No. 329.
APPROVED by the City Council on this 22nd Day of March, 2022.