HomeMy WebLinkAboutCity Council Resolution 2023-050
C ITY OF P LYMOUTH
R ESOLUTION N O. 2023-050
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE FOR
H OLLYDALE 2 ND A DDITION (2022023)
WHEREAS, in accordance with the development contract dated June 28, 2022, Hollydale GC
Development, Inc, developer of Hollydale 2nd Addition (2022023), 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. 1389 for the items be reduced from $2,142,185 to
$1,619,949:
% of
Original Current New Original
Item Amount Amount Amount Amount
Street Construction $1,138,800 $683,280 $683,280 60%
Sanitary Sewer System $858,500 $429,250 $214,625 25%
Watermain System $530,650 $265,325 $132,663 25%
Storm Sewer System $722,100 $361,050 $252,735 35%
Boulevard and Drainage Swale Sod $36,000 $36,000 $36,000 100%
Street and Traffic Control Signs $3,900 $0 $0 0%
Buffer/Park Posts & Signs ($100/post) $1,200 $0 $0 0%
Sidewalk Improvements $105,300 $105,300 $105,300 100%
Trail Improvements $28,000 $28,000 $28,000 100%
Landscaping $43,000 $43,000 $15,050 35%
Street Lighting $13,000 $13,000 $13,000 100%
Setting Iron Monuments ($100/iron) $19,300 $19,300 $19,300 100%
Subtotal $3,499,750 $1,983,505 $1,499,953 43%
Design, Admin, Insp, As-Builts (8%) $279,980 $158,680 $119,996
Total $3,779,730 $2,142,185 $1,619,949 43%
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of
February 14, 2023, subject to the two-year guarantee by the developer per Letter of Credit No. 1389.
APPROVED by the City Council on this 14th day of February, 2023.
Resolution 2023-050
Page 2 of 2
STATE OF MINNESOTA)
COUNTY OF HENNEPIN) SS.
The undersigned, being the duly qualified and appointed City Clerk of the City of Plymouth, Minnesota,
certifies that I compared the foregoing resolution adopted at a meeting of the Plymouth City Council on
February 14, 2023 with the original thereof on file in my office, and the same is a correct transcription
thereof.
WITNESS my hand officially as such City Clerk and the Corporate seal of the City this ___________day of
__________________, __________.
_________________________________
City Clerk