HomeMy WebLinkAboutCity Council Resolution 2014-380CITY OF PLYMOUTH
RESOLUTION No. 2014-380
A RESOLUTION ACCEPTING UTILITIES FOR CONTINUAL MAINTENANCE
FOR TERRA VISTA 3RD ADDITION (2013104)
WHEREAS, in accordance with the development contract dated January 14, 2014, GWS Land
Development of Plymouth, developer of Terra Vista 3rd Addition (2013104), 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. 273 for the above items be reduced from
$584,754 to $223,835.
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
NEW
ITEM
AMOUNT
AMOUNT
Street Construction
$198,211
$ 79,284
Sanitary Sewer
102,504
25,626
Watermain
87,520
21,880
Storm Sewer System
61,889
15,472
Boulevard and Drainage Swale Sod
6,260
6,260
Retaining Walls
30,000
30,000
Street & Traffic Control Signs
1,600
0
Sidewalk Improvements
24,800
9,920
Trail Improvements
5,480
2,192
Street Lighting
10,875
10,875
Erosion Control
5,000
5,000
Setting Iron Monuments
7,300
0
Design, Administration, Inspection, As-
43,315
17,326
Builts(8%)
Total:
$584,754
$223,835
That the required financial guarantee and Letter of Credit No. 273 for the above items be reduced from
$584,754 to $223,835.
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
December 9, 2014, subject to the two-year guarantee by the Developer per Letter of Credit No. 273.
APPROVED this 9th day of December, 2014.