HomeMy WebLinkAboutCity Council Resolution 2014-377CITY OF PLYMOUTH
RESOLUTION No. 2014-377
A RESOLUTION ACCEPTING UTILITIES FOR CONTINUAL MAINTENANCE
FOR HAMPTON HILLS 5TH ADDITION (2012102)
WHEREAS, in accordance with the development contract dated March 4, 2013, Hampton Hills
Investment, LLC, developer of Hampton Hills 5t" Addition (2012102), 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. IS0026217U for the above items be
reduced from $342,280 to $287,025.
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Construction
$342,680
$137,000
$ 137,000
Sanitary Sewer
162,600
48,800
40,650
Watermain
168,740
50,600
42,185
Storm Sewer System
88,421
26,500
22,105
Boulevard and Drainage swale sod
4,232
3,174
3,174
Street & Traffic Control Signs
1,7000
0
0
Sidewalk Improvements
29,150
29,150
11,660
Retaining Walls
4,000
4,000
4,000
Street Lighting
10,875
0
0
Erosion Control and Silt Fence
4,000
4,000
4,000
Site Grading and Drainage
6,616
1,654
1,654
Improvements
Setting Iron Monuments
6,800
6,800
0
Tree preservation
3,922
3,922
3,922
Design, Administration, Inspection, As-
66,698
26,680
16,675
Builts(12%)
Total:
$900.434
$342,280
$287,025
That the required financial guarantee and Letter of Credit No. IS0026217U for the above items be
reduced from $342,280 to $287,025.
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
December 9, 2014, subject to the two-year guarantee by the Developer per Letter of Credit No.
IS0026217U.
APPROVED this 9th day of December, 2014.