HomeMy WebLinkAboutCity Council Resolution 2004-043CITY OF PLYMOUTH
RESOLUTION NO. 2004-043
ACCEPTANCE OF STREETS FOR CONTINUAL MAINTENANCE
THE RESERVE (20092)
WHEREAS, in accordance with the development contract dated July 11, 2001, Rottlund Company, Inc.,
developer of The Reserve (20092), 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
Mitigation Pond Constriction
N [_]RP Pond Constriction
Rain Garden
Street Signs (8 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$ 1,004,392
$ 291,273
$ -0-
437,289
-0-
-0-
484,539
-0-
-0-
748,676
-0-
-0-
15,800
11,850
5,000
52,500
52,500
52,500
52,500
5,250
5,250
16,400
16,400
16,400
1,600
-0-
-0-
1,790,642
358,128
100,000
57,000
17,100
17,100
9,500
9,500
9,500
560,501
91,440
24,690
$ 5,231,339
$853,441
$230,440
That the required financial guarantee for the above items be reduced as detailed above from $1,280,162
($853,441 x 150%) to $345,660 ($230,440 x 150%) to reflect the completed work. The Subdivision Bond
No. 929219076 may be reduced accordingly.
RESOLUTION NO. 2004-043
THE RESERVE (20092)
Page Two
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items per Section
8.1 of the approved development contract be reduced as follows:
ITEM
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash
Letter of Credit No. 577
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$ 1,000 $ 1,000 $ 1,000
$ 156,500 $100,000 $ 50,000
FURTHER BE IT RESOLVED that the financial guarantee for the above items remain at $1,000 cash with a
separate financial guarantee reduced from $100,000 to $50,000. Letter of Credit No. 577 may be reduced
accordingly.
FURTHER BE IT RESOLVED that the street constriction is accepted for continual maintenance as of
January 27, 2004, subject to the one-year guarantee by the Developer per Maintenance Bond No. MNC5378
issued by Merchants Bonding Company.
Adopted by the City Council on January 27, 2004.