HomeMy WebLinkAboutCity Council Resolution 2022-283
C ITY OF P LYMOUTH
R ESOLUTION N O. 2022-283
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE FOR
H AMPTON H ILLS 7 TH A DDITION (2020099)
WHEREAS, in accordance with the development contract dated May 24, 2022, Tradition
Development Corporation, developer of Hampton Hills 7th Addition (2020099), 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. 1370 for the items be reduced from $117,180 to
$53,946:
% of
Original New Original
Item Amount Amount Amount
Street Construction $50,400 30,240 60%
Sanitary Sewer System $12,400 3,100 25%
Watermain System $20,000 5,000 25%
Storm Sewer System $1,500 375 25%
Boulevard and Drainage Swale Sod $1,000 1,000 100%
Buffer/Park Posts & Signs ($100 per buffer post) $500 500 100%
Sidewalk Improvements $5,100 3,060 60%
Erosion control $1,700 1,275 75%
Site Grading & Drainage Improvements $15,000 4,500 30%
Setting Iron Monuments ($100 per iron) $900 900 100%
Subtotal $108,500 $49,950 46%
Design, Admin, Insp, As-Builts (8%) $8,680 $3,996
Total $117,180 $53,946 46%
BE IT FURTHER RESOLVED that the Utilities are accepted for continuous maintenance as of
November 15, 2022, subject to the two-year guarantee by the Developer per Letter of Credit No. 1370.
APPROVED by the City Council on this 15th day of November, 2022.