HomeMy WebLinkAboutCity Council Resolution 2006-452CITY OF PLYMOUTH
RESOLUTION NO. 2006-452
ACCEPTING UTILITIES FOR CONTINUAL MAINTENANCE
CHURCHILL RIDGE (2004107)
WHEREAS, in accordance with the development contract dated March 31, 2006, Churchill Ridge,
LLC, developer of Churchill Ridge (2004107), 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 remain as follows:
ITEM
Street Constriction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
N [_]RP Pond
Street Light
Rain Gardens
Site Grading and Drainage Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL
CURRENT
NEW
AMOUNT
AMOUNT
AMOUNT
$ 57,832
$ 57,832
$ 23,200
21,800
21,800
-0-
44,538
44,538
-0-
27,735
27,735
-0-
2,000
2,000
1,800
10,000
10,000
10,000
2,400
2,400
480
5,000
5,000
3,000
52,561
-0*-
10,512
3,600
3,600
3,600
27,296
20,989
6,311
$ 254,762
$195,894
$ 58,903
The required financial guarantee for the above items may be reduced as detailed above from $195,894
to $58,903 to reflect the completed work. Letter of Credit No. 1025 may be reduced accordingly by
the Finance Department.
Resolution No. 2006-452
CHURCHILL RIDGE (2004107)
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:
ORIGINAL CURRENT
ITEM AMOUNT AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash: $ 1,000 $1,000
Letters of Credit No. 1026: $ 9,305 $9,305
FURTHER BE IT RESOLVED that the utilities are accepted for continual maintenance as of October
16, 2006 subject to the two-year guarantee by the Developer per Letter of Credit No. 1031 issued by
Flagship Bank.
Adopted by the City Council on November 14, 2006.