HomeMy WebLinkAboutCity Council Resolution 2004-073CITY OF PLYMOUTH
RESOLUTION NO. 2004-073
ACCEPTANCE OF STREETS FOR CONTINUAL MAINTENANCE
SEVEN GREENS (2001031)
WHEREAS, in accordance with the development contract dated September 26, 2001, Swan Development
LLC, developer of Seven Greens (2001031), 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
Watermain System Vicksburg Lane
Storm Sewer
Boulevard and Drainage Swale Sod
N [_]RP Pond Constriction
Mitigation Pond Constriction
Street Signs (7 x 200)
Concrete Sidewalk
Park and Trail Improvements
Site Grading and Drainage Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL
CURRENT
NEW
AMOUNT
AMOUNT
AMOUNT
$ 407,050
$ 81,410
$ -0-
223,087
-0-
-0-
171,975
-0-
-0-
50,550
-0-
-0-
183,948
-0-
-0-
9,000
9,000
900
20,881
4,176
4,176
24,975
24,975
24,975
1,400
1,400
400
183,200
36,640
1,000
30,855
-0-
-0-
335,195
67,039
67,039
6,000
6,000
6,000
191,708
27,677
12,539
$ 1,845,890 $ 258,317 $ 117,029
That the required financial guarantee for the above items be reduced as detailed above from $258,317 to
$117,029 to reflect the completed work. Letter of Credit No. NZS425408 may be reduced accordingly.
RESOLUTION NO. 2004-073
SEVEN GREENS (2001031)
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. NZS404438:
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$ 1,000 $ 1,000 $ 1,000
$ 87,500 $ 87,500 $17,500
That the required financial guarantee for the above item be reduced as detailed above from $87,500 to
$17,500. Letter of Credit No. NZS404438 may be reduced accordingly.
FURTHER BE IT RESOLVED that the street constriction is accepted for continual maintenance as of
February 10, 2004 subject to the one year guarantee by the Developer per Maintenance Bond No.
929310084 issued by Continental Insurance Company.
Adopted by the City Council on February 10, 2004.