HomeMy WebLinkAboutCity Council Resolution 2014-359CITY OF PLYMOUTH
RESOLUTION No. 2014-359
A RESOLUTION ACCEPTING UTILITIES FOR CONTINUAL MAINTENANCE
FOR KIRKWOOD 2ND ADDITION (2012054)
WHEREAS, in accordance with the development contract dated March 19, 2013, US Homes
Corp., DBA Lennar, developer of Kirkwood 2nd Addition (2012054), 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. 63670128 for the above items be reduced
from $1,389,337 to $536,367.
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
Street Construction
$528,620
$528,620
$211,500
Sanitary Sewer
248,198
123,000
62,050
Watermain
218,138
108,000
54,535
Storm Sewer System
242,520
121,000
60,630
Retaining Walls
40,000
40,000
0
Pond Construction
10,000
7,500
2,500
Street & Traffic Control Signs
4,500
4,500
0
Sidewalk Improvements
70,522
70,522
28,210
Trail Improvements
51,500
51,500
20,600
Landscaping
218,400
218,400
53,750
Street Lighting
19,875
19,875
0
Erosion Control and Boulevard Sod
17,520
17,520
8,760
Setting Iron Monuments
21,800
10,900
0
Design, Administration, Inspection, As-
135,327
68,000
33,832
Builts (12%)
Total:
$1,826,920
$1,389,337
$536,367
That the required financial guarantee and Letter of Credit No. 63670128 for the above items be reduced
from $1,389,337 to $536,367.
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)lINT OW)lINT
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.
63670128.
APPROVED this 25th day of November, 2014.