HomeMy WebLinkAboutCity Council Resolution 2007-472CITY OF PLYMOUTH
RESOLUTION NO. 2007-472
ACCEPTING UTILITIES FOR CONTINUAL MAINTENANCE
TARYN HILLS 6TH ADDITION (2007019)
WHEREAS, in accordance with the development contract dated April 10, 2007, US Home
Corporation, developer of Taryn Hills 6th Addition (2007019), 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 and Drainage Swale Sod
Sidewalk Improvements
Setting Iron Monuments
Street Lights
Design, Administration, Inspection, As-
Bullts
TOTAL
ORIGINAL
CURRENT
NEW
AMOUNT
AMOUNT
AMOUNT
$ 23 8,5 03
$ 48,000
$ 48,000
123,960
25,000
-0-
125,900
26,000
-0-
156,168
32,000
-0-
12,075
8,000
8,000
45,175
45,175
9,035
11,800
11,800
-0-
3,375
-0-
-0-
86,035
23,525
7,800
$ 802,990
$ 219,500
72,835
That the required financial guarantee for the above items be reduced as detailed above from
$219,500 to $72,835 to reflect the completed work. Letter of Credit No. FGAC-07077 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. 2007-472
Page 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-
07075
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 22,160 $ 22,160
FURTHER BE IT RESOLVED that the utility constriction is accepted for continuous
maintenance as of November 13, 2007 subject to the two-year guarantees by the contractors per
Maintenance Bond No. 8213-63-45 issued by Federal Insurance Company.
Adopted by the City Council on November 13, 2007.