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Home My WebLink AboutCity Council Resolution 2008-054CITY OF PLYMOUTH RESOLUTION NO. 2008-054 ACCEPTANCE OF STREETS & UTILITIES FOR CONTINUAL MAINTENANCE PLYMOUTH CROSSING (2004116) WHEREAS, in accordance with the development contract dated December 14, 2004, Heritage Development of Minnesota, LLC, developer of Plymouth Crossing (2004116), has agreed to install certain improvements for said development; and WHEREAS, the developer has completed street and utility work as noted below; and WHEREAS, the developer has requested acceptance of the streets and utilities for continual maintenance; NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH, MINNESOTA; that the financial guarantee requirements for the development contract be reduced from $274,160 to $172,148 to reflect the completed work. Letter of Credit No. LC -010105A may be released by the City as a replacement Letter of Credit No. LC -010801 in the amount of $172,148 has been issued to the City. FURTHER BE IT RESOLVED that the financial guarantee requirements for maintenance of erosion and sediment control remain at $1,000 cash and a Letter of Credit, No. LC -010105B, in the amount of $6,350. FURTHER BE IT RESOLVED that the utility constriction is accepted for continual maintenance as of August 14, 2007 subject to the two-year guarantee by the Developer per Letter of Credit No. LC -010801 issued by Assured Financial, LLC. FURTHER BE IT RESOLVED that the street constriction is accepted for continual maintenance as of August 14, 2007 subject to the one-year guarantee by the Developer per Letter of Credit No. LC -010801 issued by Assured Financial, LLC. FURTHER BE IT RESOLVED that the final landscaping installation and warranty periods are covered by the Developer per Letter of Credit No. LC -010801 issued by Assured Financial, LLC. FURTHER BE IT RESOLVED that the remaining 380 feet of bituminous trail be installed as covered by the Developer per Letter of Credit No. LC -010801 issued by Assured Financial, LLC. Adopted by the City Council on February 12, 2008.