HomeMy WebLinkAboutCity Council Resolution 2023-015
C ITY OF P LYMOUTH
R ESOLUTION N O. 2023-015
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE FOR
V ICKSBURG R IDGE 2 ND A DDITION (2022046)
WHEREAS, in accordance with the development contract dated August 16, 2022, 4430 Vicksburg
Lane, LLC, developer of Vicksburg Ridge 2nd Addition (2022046), 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. 1394 for the items be reduced from $956,022 to
$405,108:
% of
Original New Original
Item Amount Amount Amount
Street Construction: $204,026 $122,416 60%
Sanitary Sewer System: 133,233 33,308 25%
Watermain System: 133,748 33,437 25%
Storm Sewer System: 223,371 55,843 25%
Boulevard and Drainage Swale Sod: 8,400 8,400 100%
Retaining Walls: 46,497 46,497 100%
Filtration Basin: 18,771 18,771 100%
Street and Traffic Control Signs: 1,250 0 0%
Buffer/Park Posts & Signs: 1,000 1,000 100%
Sidewalk Improvements: 23,494 23,494 100%
Private Trailway Improvements: 8,150 4,890 60%
Removal/Restoration of Temp. Cul-De-Sac: 2,500 0 0%
Street Lighting: 1,000 1,000 100%
Erosion Control: 6,505 4,879 75%
Site Grading & Drainage Improvements: 69,461 17,365 25%
Setting Iron Monuments: 3,800 3,800 100%
Subtotal $885,206 $375,100 42%
Design, Admin, Insp, As-Builts (8%) $70,816 $30,008
Total $956,022 $405,108 42%
Resolution 2023-015
Page 2 of 2
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of
January 10, 2023, subject to the two-year guarantee by the Developer per Letter of Credit No. 1394.
APPROVED by the City Council on this 10th Day of January, 2023.