HomeMy WebLinkAboutCity Council Resolution 2006-325CITY OF PLYMOUTH
RESOLUTION NO. 2006-325
ACCEPTING STREETS AND UTILITIES FOR CONTINUAL
MAINTENANCE SEVEN GREENS SECOND ADDITION (2003133)
WHEREAS, in accordance with the development contract dated April 27, 2004, Swan Development LLC,
developer of Seven Greens Second Addition (2003133), 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
Pond 43 Restoration
Street and Traffic Control Signs
Sidewalk Improvements
Trail Improvements
Landscaping
Amenities
Street Lighting
Site Grading and Drainage Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL
CURRENT
NEW
AMOUNT
AMOUNT
AMOUNT
$ 227,289
$ 68,187
$ -0-
159,526
47,858
-0-
166,695
33 339
-0-
159,345
31,869
-0-
11,200
11,200
8,000
3,000
3,000
-0-
6,615
6,615
-0-
94,707
94,707
-0-
1,800
1,800
-0-
100,000
100,000
95,000
30,000
30,000
25,000
35,000
35,000
30,000
10,500
10,500
10,500
5,600
5,600
-0-
121,353
57,561
-0-
$1,132,630
$ 537,236
168,500
That the required financial guarantee for the above items be reduced as detailed above from $537,236 to
$168,500 to reflect the completed work. Letter of Credit No. NZS521492 may be reduced accordingly.
RESOLUTION NO. 2006-325
SEVEN GREENS 2ND (2003133)
Page Two
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
Cash:
Letter of Credit No. NZS521491:
ORIGINAL CURRENT
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 15,500 $15,500
FURTHER BE IT RESOLVED that the street constriction is accepted for continuous maintenance as of
August 22, 2006 subject to the one-year guarantee by the Developer per Maintenance Bond No. 929102740
issued by Continental Insurance Company.
FURTHER BE IT RESOLVED that the utilities are accepted for continuous maintenance as of August 22,
2006 subject to the two-year guarantee by the Developer per Maintenance Bond No. 929402741 issued by
Continental Insurance Company.
Adopted by the City Council on August 22, 2006.