HomeMy WebLinkAboutCity Council Resolution 2022-285
C ITY OF P LYMOUTH
R ESOLUTION N O. 2022-285
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE FOR
H IGHLANDS ON D UNKIRK (2022025)
WHEREAS, in accordance with the development contract dated June 14, 2022, Rachel
Development, Inc., developer of Highlands on Dunkirk (2022025), 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. 1381 for the items be reduced from $960,444 to
$379,686:
Original New % of Original
ITEM Amount Amount Amount
Street Construction: $185,310 $111,186
60%
Sanitary Sewer System: $187,420 $46,855
25%
Watermain System: $103,470 $25,868
25%
Storm Sewer System: $150,570 $37,643
25%
Boulevard and Drainage Swale Sod: $5,350 $5,350
100%
Filtration Basin: $15,390 $15,390
100%
Retaining Walls $25,000 $25,000
100%
Street and Traffic Control Signs: $1,270 $0
0%
Wetland Buffer Posts & Signs: $1,500 $1,500
100%
Sidewalk Improvements: $30,250 $30,250
100%
Trail Improvements $5,670 $5,670
100%
Landscaping: $0 $0
100%
Street Lighting: $4,000 $0
0%
Erosion Control $19,200 $14,400
75%
Site Grading & Drainage Improvements: $113,800 $28,450
25%
Setting Iron Monuments: $4,000 $4,000
100%
Tree Preservation/Protection $37,100 $0
0%
Subtotal $889,300 $351,561 40%
Design, Admin, Insp., As-Builts (8%) $71,144 $28,125
TOTAL $960,444 $379,686 40%
Resolution 2022-285
Page 2
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. 1381.
APPROVED by the City Council on this 15th day of November, 2022.