HomeMy WebLinkAboutCity Council Resolution 2006-348CITY OF PLYMOUTH
RESOLUTION NO. 2006-348
ACCEPTANCE OF STREETS & UTILITIES FOR CONTINUAL MAINTENANCE
TIMBER CREEK CROSSING 3rd ADDITION (2005063)
WHEREAS, in accordance with the development contract dated July 26, 2005, US Home Corporation,
developer of Timber Creek Crossing -1 Addition (2005063), has agreed to install certain improvements for
said development; and
WHEREAS, the developer has completed street and utility work as noted below; and
WHEREAS, the developer has requested acceptance of the streets and utilities for continual maintenance;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the financial guarantee requirements be reduced as follows:
That the required financial guarantee for the above items be reduced as detailed above from $737,072 to
$146,832 to reflect the completed work. Letter of Credit No. FGAC-05246 may be reduced accordingly.
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$172,000
-0-
Sanitary Sewer
80,000
-0-
Watermain
160,000
-0-
Storm Sewer
115,000
-0-
Boulevard and Drainage Swale Sod
5,200
5,200
Rain Gardens
6,200
6,200
Street and Traffic Control Signs
1,000
1,000
Street Lighting
4,000
4,000
Landscaping
80,000
80,000
Buffer Posts
1,200
1,200
Sidewalk Improvements
29,000
29,000
Setting Iron Monuments
4,500
4,500
Design, Administration, Inspection, As-
Builts
78,972
15,732
TOTAL
$ 737,072
$ 146,832
That the required financial guarantee for the above items be reduced as detailed above from $737,072 to
$146,832 to reflect the completed work. Letter of Credit No. FGAC-05246 may be reduced accordingly.
RESOLUTION NO. 2006-348
TIMBER CREEK CROSSING 3rd (2005063)
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 (see Grading Permit for Financial
Guarantee Requirements)
Cash:
Financial Guarantee: LC 05247
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$11,800 $ 11,800
FURTHER BE IT RESOLVED that the street constriction is accepted for continual maintenance as of
September 12, 2006 subject to the one-year guarantee by the Developer per Maintenance Bond No.
929376412A issued by Western Surety Company.
FURTHER BE IT RESOLVED that the utilities be accepted for continual maintenance as of September 12,
2006 subject to the two-year guarantee by the Developer per Maintenance Bond No. 92937641213 issued by
Western Surety Company.
Adopted by the City Council on September 12, 2006.