HomeMy WebLinkAboutCity Council Resolution 2007-070CITY OF PLYMOUTH
RESOLUTION NO. 2007-070
ACCEPTANCE OF UTILITIES FOR CONTINUAL MAINTENANCE
FINAL RELEASE OF FINANCIAL GUARANTEE
JEFFESON AT PLYMOUTH ADDITION (2001040)
WHEREAS, in accordance with the development contract dated August 15, 2001 JPI Apartment
Development L.P., developer of Jefferson at Plymouth Subdivision (2001040), has agreed to install certain
improvements for said development; and
WHEREAS, the developer has completed the utilities 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 and Drainage Swale Sod
Mitigation Pond Constriction
Drainage Pond Constriction
Mitigation Pond Constriction
Street Signs
Park Trail Improvements
Site Grading and Drainage Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL NEW
AMOUNT AMOUNT
$-0-
46,9 13 -0-
46,913
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
5,630
$ 52,543
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
$-0-
That the required financial guarantee for the above items be reduced as detailed above from $52,543 to $0
(zero) to reflect the completed work. Letter of Credit No. SLCMMSP01739 may be released accordingly.
Resolution No. 2007-070
Jefferson at Plymouth (2001040)
Page 2 of 2
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:
ORIGINAL CURRENT
ITEM AMOUNT AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning.
Cash: $ 1,000 $_0_
FURTUER
-0-
FURTHER BE IT RESOLVED that the utility constriction is accepted for continual maintenance as of
January 1, 2007, subject to the two-year guarantee by the Developer per Maintenance Bond No. CMS
228234 issued by RLI Insurance Company.
Adopted by the City Council on February 13, 2007.