HomeMy WebLinkAboutCity Council Resolution 2008-119CITY OF PLYMOUTH
RESOLUTION NO. 2008-119
ACCEPTING UTILITIES FOR CONTINUAL MAINTENANCE
TARYN HILLS 5TH ADDITION (2007018)
WHEREAS, in accordance with the development contract dated December 28, 2005, US Home Corporation,
developer of Taryn Hills 5TH Addition (2007018), 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:
ITEM
Street Constriction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard & Drainage Swale Sod
Street & Traffic Control Signs
Sidewalk Improvements
Landscaping (plantings)
Site Grading & Drainage Improvements
Setting Iron Monuments
Street Lights
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL
CURRENT
NEW
AMOUNT
AMOUNT
AMOUNT
$ 718,830
$ 144,000
144,000
364,314
73,000
-0-
371123
74,000
-0-
435,372
87,000
-0-
9,100
5,000
2,500
11,025
11,025
8,300
35,050
35,050
7100
137,046
95,000
95,000
302,830
75,000
35,000
18,500
18,500
-0-
2,025
-0-
-0-
288,626
74,425
35,100
$ 2,693,841
$ 692,000
327,000
That the required financial guarantee for the above items be reduced as detailed above from $692,000 to
$327,000 to reflect the completed work. Letter of Credit No. FGAC-07078 may be reduced accordingly.
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items per Section
8.1 of the approved Development Contract remain as follows:
Resolution No. 2008-119
Page 2 of 2
ITEM
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning (see Grading Permit for Financial
Guarantee Requirements)
Cash:
Financial Guarantee Letter of Credit No. FGAC-
07076
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 13,985 $ 13,985
FURTHER BE IT RESOLVED that the utility constriction is accepted for continuous maintenance as
of April 8, 2008 subject to the two-year guarantees by the contractors per Maintenance Bond No.
8214-30-39 issued by Federal Insurance Company.
Adopted by the City Council on April 8, 2008.