HomeMy WebLinkAboutCity Council Resolution 2023-217
C ITY OF P LYMOUTH
R ESOLUTION N O. 2023-217
R ESOLUTION A CCEPTING H OLLY L ANE FOR C ONTINUAL M AINTENANCE FOR
T IMBERS E DGE (2018044)
WHEREAS, in accordance with the development contract dated September 5, 2019, Timbers
Edge Development, LLC, the developer of Timbers Edge (2018044), has agreed to install certain
improvements for said development; and
WHEREAS, the developer has completed a portion 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 as follows below and that the
required guarantee and Letter of Credit No. 9100378273 for the items be reduced from $707,006 to
$320,933:
Original Current New % of Original
Item Amount Amount Amount Amount
Street Construction 193,900 116,340 116,340 60%
Holly Lane Reconstruction 146,200 146,200 36,550 25%
Sanitary Sewer System 156,100 39,025 0 0%
Watermain System 121,700 30,425 0 0%
Storm Sewer System 180,900 45,225 0 0%
Boulevard and Drainage Swale Sod 9,200 9,200 4,600 50%
Pond Construction 5,100 5,100 2,550 50%
Filtration Basin 4,600 4,600 4,600 100%
Street and Traffic Control Signs 4,200 0 0 0%
Wetland Buffer Posts & Signs 700 0 0 0%
Sidewalk Improvements 36,700 22,020 22,020 60%
Trail Improvements 14,500 14,500 14,500 100%
Landscaping 15,000 15,000 15,000 100%
Street Lighting 3,000 0 0 0%
Erosion Control 24,000 18,000 6,000 25%
Site Grading & Drainage Improvements 300,000 189,000 75,000 25%
Setting Iron Monuments 12,000 0 0 0%
Tree Preservation/Protection 78,500 0 0 0%
Subtotal $1,306,300 $654,635 $297,160 23%
Design, Admin, Insp, As-Builts (8%) $104,504 $52,371 $23,773
Total $1,410,804 $707,006 $320,933 23%
Resolution 2023-217
Page 2
BE IT FURTHER RESOLVED that Holly Lane is accepted for continuous maintenance as of August
22, 2023, subject to the one-year guarantee by the developer.
APPROVED by the City Council on this 22nd day of August, 2023.