HomeMy WebLinkAboutCity Council Resolution 2004-044CITY OF PLYMOUTH
RESOLUTION NO. 2004-044
ACCEPTANCE OF STREETS FOR CONTINUAL MAINTENANCE
THE RESERVE SECOND ADDITION (2002054)
WHEREAS, in accordance with the development contract dated June 19, 2002, Rottlund Company, Inc.,
developer of The Reserve Second Addition (2002054), 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:
That the required financial guarantee for the above items be reduced as detailed above from $418,992
($279,328 x 150%) to $224,448 ($149,632 X 150%) to reflect the completed work. The Subdivision Bond
No. 929262820 may be reduced accordingly.
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Constriction
$ 578,998
$115,800
$ -0-
Sanitary Sewer
392,114
-0-
-0-
Watermain
536,376
-0-
-0-
Storm Sewer
373,698
-0-
-0-
Boulevard and Drainage Swale Sod
26,000
26,000-
26,000
Mitigation Pond Constriction
-0-
-0-
-0-
N [_]RP Pond Constriction
-0-
-0-
-0-
Street Signs (7 x 200)
1,400
-0-
-0-
Site Grading and Drainage Improvements
759,000
100,000
100,000
Sidewalk Improvements
65,504
-0-
-0-
Setting Iron Monuments
7,600
7,600
7,600
Design, Administration, Inspection, As-Builts
328,883
29,928
16,032
TOTAL
$ 3,069,573
$279,328
$149,632
That the required financial guarantee for the above items be reduced as detailed above from $418,992
($279,328 x 150%) to $224,448 ($149,632 X 150%) to reflect the completed work. The Subdivision Bond
No. 929262820 may be reduced accordingly.
RESOLUTION NO. 2004-044
THE RESERVE SECOND ADDITION (2002054)
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:
ORIGINAL CURRENT NEW
ITEM AMOUNT AMOUNT AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning [Included in The Reserve —
(20092)]
Cash: $ -0- $ -0- $_0_
Financial
-0-
Financial Guarantee: $ -0- $ -0- $_0_
FURTUER
-0-
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. 54134431
issued by United Fire and Casualty Company.
Adopted by the City Council on January 27, 2004.