HomeMy WebLinkAboutCity Council Resolution 2012-257CITY OF PLYMOUTH
RESOLUTION No. 2012-257
A RESOLUTION ACCEPTING STREETS
FOR HAMPTON HILLS 2ND (2010043)
WHEREAS, in accordance with the development contract dated September 21, 2010,
Hampton Hills Investments, LLC, developer of Hampton Hills 2" a Addition (2010043), 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:
ITEM
Street Constriction
Sanitary Sewer
Watermain
Storm Sewer System
Boulevard and Drainage Swale Sod
Street & Traffic Control Signs
Sidewalk Improvements
Landscaping, Irrigation
Street Lighting
Site Grading and Drainage
Improvements
Setting Iron Monuments
Design, Administration, Inspection,
As-Bullts(12%)
Total:
ORIGINAL
CURRENT
NEW
AMOUNT
AMOUNT
AMOUNT
$270,250
$ 108,100
$ 108,100
773,779
193,444
193,444
122,760
30,690
30,690
122,400
30,600
30,600
10,050
3,000
3,000
2,700
0
0
30130
7,500
7,500
1,900
0
0
35,000
0
0
176,855
5,000
5,000
7,200
0
0
$186,363
$15,000
$15,000
$1,739,387
$393,334
$393,334
That the required financial guarantee and Letter of Credit No. NZS665256 for the above items
shall remain the same.
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
Cash:
Financial Guarantee Letter of Credit No NZS665258
ORIGINAL NEW
AMOUNT AMOUNT
$2,000 $2,000
$13,000 $13,000
Wetland Mitigation Financial Guarantee Letter of Credit NZS665254: $32,000 $32,000
FURTHER BE IT RESOLVED that the utilities are accepted for continuous maintenance
as of August 28, 2012, subject to the one-year guarantee by the Developer per Letter of Credit
No. NZS665256.
Approved this 28th day of August 2012.