HomeMy WebLinkAboutCity Council Resolution 2014-384CITY OF PLYMOUTH
RESOLUTION No. 2014-384
A RESOLUTION ACCEPTING STREETS FOR CONTINUAL MAINTENANCE
FOR TARYN HILLS 11TH ADDITION (2010080)
WHEREAS, in accordance with the development contract dated November 16, 2010, US Homes
Corp., DBA Lennar, developer of Taryn hills 11th Addition (2010080), 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. 63670113 for the above items be reduced
from $187,754 to $69,559.
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Construction
$208,773
$104,400
$ 52,193
Sanitary Sewer
61,174
15,293
0
Watermain
58,000
14,500
0
Storm Sewer System
46,978
11,745
0
Rain Garden
3,000
3,000
0
Boulevard & Drainage swale sod
9,000
9,000
3,600
Street & Traffic Control Signs
1,800
0
0
Sidewalks
38,925
9,700
0
Street Lighting
25,000
0
0
Setting Iron Monuments
6,200
0
0
Design, Administration, Inspection, As-
55,062
20,116
13,766
Builts(12%)
Total:
$513,912
$187,754
$69,559
That the required financial guarantee and Letter of Credit No. 63670113 for the above items be reduced
from $187,754 to $69,559.
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
ITEM AMOUNT AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash: $ 2,000 $2,000
LOC # 63670116 $15,490 $15,490
FURTHER BE IT RESOLVED that the streets are accepted for continuous maintenance as of
December 9, 2014, subject to the one-year guarantee by the Developer per Letter of Credit No.
63670113.
APPROVED this 9th day of December, 2014.