HomeMy WebLinkAboutCity Council Resolution 2022-204
C ITY OF P LYMOUTH
R ESOLUTION N O. 2022-204
R ESOLUTION A CCEPTING U TILITIES AND S TREETS FOR C ONTINUAL M AINTENANCE FOR
C RANBERRY R IDGE (2020041)
WHEREAS, in accordance with the development contract dated February 23, 2021, Cranberry
Ridge Housing Limited Partnership, developer of Cranberry Ridge (2020041), 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 and release 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. IS000190876U for the items be reduced from
$676,663 to $576,445:
% of
Original Current New Original
Item Amount Amount Amount Amount
Street Construction $52,200 $31,320 13,050 25%
Parking Lot (50% of Estimate) 63,900 63,900 63,900 100%
Sanitary Sewer System 12,300 6,150 3,075 25%
Watermain System 50,000 25,000 12,500 25%
Storm Sewer System 30,800 15,400 7,700 25%
Boulevard and Drainage Swale Sod 10,000 10,000 2,500 25%
Underground Storm Chamber 60,000 30,000 30,000 50%
Stormwater Lift Station 41,900 41,900 41,900 100%
Filtration Basins 54,000 54,000 27,000 50%
Retaining Walls (50% of Estimate) 35,000 35,000 35,000 100%
Street & Traffic Control Signs 1,000 1,000 0 0%
Sidewalk - 45th Avenue 12,000 7,200 3,000 25%
Sidewalks - On-Site (50% of Estimate) 19,400 19,400 19,400 100%
Landscaping (75% of Estimate) 75,900 75,900 75,900 100%
Site Lighting (50% of Estimate) 30,500 30,500 30,500 100%
Street Lighting 2,000 2,000 0 0%
Erosion Control 19,100 14,325 4,775 25%
Site Grading and Drainage
Improvements (50% of Estimate) 191,700 162,945 162,945 85%
Setting Iron Monuments 600 600 600 100%
Resolution 2022-204
Page 2
Subtotal $762,300 $626,540 $533,745 70%
Design, Admin, Insp, As-Builts (8%) $60,984 $50,123 $42,700
Total $823,284 $676,663 $576,445 70%
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of
August 16, 2022, subject to the two-year guarantee by the Developer per Letter of Credit No.
IS000190876U.
BE IT FURTHER RESOLVED that the streets are accepted for continuous maintenance as of August
16, 2022, subject to the one-year guarantee by the Developer per Letter of Credit No. IS000190876U.
APPROVED by the City Council on this 16th day of August, 2022.