HomeMy WebLinkAboutCity Council Resolution 2014-353CITY OF PLYMOUTH
RESOLUTION No. 2014-353
A RESOLUTION ACCEPTING UTILITIES FOR CONTINUAL MAINTENANCE
FOR PROVIDENCE POINT ADDITION (20131 1 5)
WHEREAS, in accordance with the development contract dated January 28th, 2014, Providence 55,
LLC, developer of Providence Point Addition (2013115), 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 $322,263 to
$183,710 to reflect the completed work. Letter of Credit No. 1051 may be reduced accordingly.
FURTHER BE IT RESOLVED that the utilities are accepted for continuous maintenance as of November
251 2014, subject to the two-year guarantee by the Developer per Letter of Credit No.1051.
APPROVED this 25th day of November, 2014.
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Construction
$282,447
$141,200
$113,000
Sanitary Sewer System
46,544
28,000
11,636
Watermain System
62,580
371500
15,645
Storm Sewer System
39,700
23,800
9,925
Boulevard and Drainage swale Sod
4,910
4,910
4,910
Retaining walls
3,000
31000
0
Rain Garden/Filtration Areas 1, 2 and 3
18,000
18,000
4,500
Street and traffic control signs
1,140
1,140
0
Sidewalk Improvements
9,750
9,750
3,900
Trail Improvements
17,640
10,600
7,000
Landscaping
13,850
131850
3,000
Street Lighting
56,625
5,625
0
Setting Iron Monuments
4,500
4,500
0
Design, Admin., Insp., As-Builts (8%)
40,775
20,388
10,194
TOTAL
$ 550,461
$322,263
$183,710
That the required financial guarantee for the above items be reduced as detailed above from $322,263 to
$183,710 to reflect the completed work. Letter of Credit No. 1051 may be reduced accordingly.
FURTHER BE IT RESOLVED that the utilities are accepted for continuous maintenance as of November
251 2014, subject to the two-year guarantee by the Developer per Letter of Credit No.1051.
APPROVED this 25th day of November, 2014.