HomeMy WebLinkAboutCity Council Resolution 2007-315CITY OF PLYMOUTH
RESOLUTION NO. 2007-315
ACCEPTING STREETS AND UTILITIES
PLYMOUTH OFFICE PLAZA (2004051)
WHEREAS, in accordance with the development contract dated April 15, 2005, Terra Form LLC, developer
of Plymouth Office Plaza (2004051), 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:
That the required financial guarantee for the above items be reduced as detailed above from $319,478 to
$88,368 to reflect the completed work. Letter of Credit No. 118 may be reduced accordingly.
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 86,835
$ -0-
Sanitary Sewer
30,558
-0-
Watermain
61,889
-0-
Storm Sewer
27,066
-0-
Boulevard and Drainage Swale Sod
1,000
1,000
Pond Constriction
5,000
5,000
Rain Garden
4,000
4,000
Street and Traffic Control Signs
1,350
1,350
Sidewalk Improvements
4,850
4,850
Landscaping
46,000
46,000
Site Grading and Drainage Improvements
15,000
15,000
Setting Iron Monuments
200
200
Street Lights
1,500
1,500
Design, Administration, Inspection, As-Builts
34,230
9,468
TOTAL
$ 319,478
$ 88,368
That the required financial guarantee for the above items be reduced as detailed above from $319,478 to
$88,368 to reflect the completed work. Letter of Credit No. 118 may be reduced accordingly.
Resolution No. 2007-315
Page 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:
ITEM
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning (see Grading Permit for Financial
Guarantee Requirements)
Cash:
Financial Guarantee:
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 4,490 $ 4,490
FURTHER BE IT RESOLVED that the street constriction is accepted for continuous
maintenance as of July 24, 2007 subject to the one-year guarantee by the Contractor per
Maintenance Bond No. FS -7577158-A issued by Great American Insurance Company.
FURTHER BE IT RESOLVED that the utility constriction is accepted for continuous
maintenance as of July 24, 2007 subject to the two-year guarantee by the Contractor per
Maintenance Bond No. FS -7577158-B issued by Great American Insurance Company.
Adopted by the City Council on July 24, 2007.