HomeMy WebLinkAboutCity Council Resolution 2012-235CITY OF PLYMOUTH
RESOLUTION No. 2012-235
A RESOLUTION ACCEPTING UTILITIES FOR CONTINUAL MAINTENANCE
FOR SPRING MEADOWS (2009025)
WHEREAS, in accordance with the development contract dated June 18th, 2010, 5505
Vicksburg, LLC, developer of Spring Meadows (2009025), 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 (Includes Turnaround
& Bypass Lane)
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond and Retention Area
Street & Traffic Control Signs
Sidewalk Improvements
Landscaping - Irrigation
Street Lighting
Site Grading and Drainage Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-
Bullts
TOTAL
ORIGINAL
CURRENT
NEW
AMOUNT
AMOUNT
AMOUNT
$562,482
$140,620
$140,620
282,203
70,551
70,551
564,941
141,295
141,295
141,551
35,388
35,388
16,563
8,000
4,000
40,000
0
0
5,970
0
0
51,714
12,929
12,929
1,700
0
0
45,000
0
0
203,656
20,000
20,000
13,100
0
0
231,465
22,377
10,000
2,160,345
$451,160
$434,783
That the required financial guarantee and Letter of Credit No. 208 for the above items be reduced
from $451,160 to $434,783.
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
Cash
Cash
ORIGINAL CURRENT
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 23,500 $ 23,500
FURTHER BE IT RESOLVED that the streets are accepted for continuous maintenance as of
August 14, 2012, subject to the one-year guarantee by the Developer per Letter of Credit No.
208.
Approved this 14th day of August 2012.