HomeMy WebLinkAboutCity Council Resolution 2014-352CITY OF PLYMOUTH
RESOLUTION No. 2014-352
A RESOLUTION ACCEPTING UTILITIES FOR CONTINUAL MAINTENANCE
FOR KIRKWOOD ADDITION (2012041)
WHEREAS, in accordance with the development contract dated October 9, 2012, US Homes
Corp., DBA Lennar, developer of Kirkwood Addition (2012041), 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 and Letter of Credit No. 63670110 for the above items be reduced
from $1,477,020 to $760,509.
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Construction
$786,681
$275,341
$ 275,341
Sanitary Sewer
233,272
81,647
58,318
Watermain
373,873
130,853
93,468
Storm Sewer System
333,181
116,616
83,295
Pond Construction
20,000
15,000
5,000
Street & Traffic Control Signs
6,400
6,400
1,600
Sidewalk Improvements
68,203
17,053
17,053
Trail Improvements
44,450
15,550
15,550
Landscaping
429,800
400,000
29,600
Street Lighting
55,000
13,750
0
Erosion Control and Seeding
59,178
44,383
11,835
Site Grading and Drainage
245,360
181,770
61,340
Improvements
Setting Iron Monuments
15,600
7,800
0
Retaining Walls
13,087
13,087
0
Wetland Mitigation/Restoration
75,000
75,000
75,000
Design, Administration, Inspection, As-
331,090
82,770
33,109
Builts(12%)
Total:
$3,090,175
$1,477,020
$760,509
That the required financial guarantee and Letter of Credit No. 63670110 for the above items be reduced
from $1,477,020 to $760,509.
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
ORIGINAL CURRENT
OW)l1NT OW)l1NT
Cash: $ 1,000 $ 1,000
FURTHER BE IT RESOLVED that the utilities are accepted for continuous maintenance as of
November 25, 2014, subject to the two-year guarantee by the Developer per Letter of Credit No.
63670110.