HomeMy WebLinkAboutCity Council Resolution 2007-484CITY OF PLYMOUTH
RESOLUTION NO. 2007-484
ACCEPTING STREETS FOR CONTINUAL MAINTENANCE
TARYN HILLS (2005045)
WHEREAS, in accordance with the development contract dated December 28, 2005, US Home Corporation,
developer of Taryn Hills (2005045), 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
County Road 47 & Vicksburg Lane
Constriction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Trail Improvements
Street & Traffic Control Signs
Sidewalk Improvements
Landscaping (plantings)
Rain Garden
Buffer Posts
Site Grading and Drainage Improvements
Setting Iron Monuments
Street Lights
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL
CURRENT
NEW
AMOUNT
AMOUNT
AMOUNT
1,594,000
797,000
-0-
795,000
159,000
-0-
2,290,000
-0-
-0-
1,700,000
-0-
-0-
882,000
-0-
-0-
75,000
37,500
18,500
44,700
8,900
-0-
15,000
7,500
7,500
183,300
37,000
-0-
112,950
100,000
100,000
10,000
10,000
2,500
10,000
5,000
500
4,368,592
874,000
125,000
45,000
-0-
-0-
120,000
24,000
-0-
1,469,465
247,188
30,000
$13,715,007
2,307,088
284,000
That the required financial guarantee for the above items be reduced as detailed above from $2,307,088 to
$284,000 to reflect the completed work. Letter of Credit No. FGAC-06044 may be reduced accordingly.
Resolution No. 2007-484
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 Letter of Credit No. FGAC-
06048
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 264,150 $ 264,150
FURTHER BE IT RESOLVED that the street constriction is accepted for continuous maintenance
subject to a one year guarantee per Maintenance Bond No. 105001151 issued by Travelers Casualty
and Surety Company of America.
Adopted by the City Council on November 27, 2007.