HomeMy WebLinkAboutCity Council Resolution 2015-133CITY OF PLYMOUTH
RESOLUTION No. 2015-133
RESOLUTION ACCEPTING UTILITIES FOR CONTINUAL MAINTENANCE
FOR CEDAR HOLLOW (2013069)
WHEREAS, in accordance with the development contract dated September 18, 2013, K. Hovnanian
Homes of Minnesota at Cedar Hollow, LLC, developer of Cedar Hollow (2013069), 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; and
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. 63669130 for the above items be reduced
from $684,895 to $571,958.
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Construction
$381,078
$ 228,700
$ 228,700
Sanitary Sewer
188,610
75,400
47,150
Watermain
192,665
77,100
48,170
Storm Sewer System
164,427
65,800
41,100
Boulevard and Drainage Swale Sod/Seed
13,600
13,600
13,600
Retaining Walls
9,100
-0-
-0-
Pond Construction
20,000
10,000
10,000
Street & Traffic Control Signs
1,400
-0-
-0-
Sidewalk Improvements
55,150
33,090
33,090
Trail Improvements
25,600
15,360
15,360
Erosion Control
25,890
25,890
17,140
Site Grading and Drainage Improvements
155,643
77.822
77,822
Setting Iron Monuments
11,400
11,400
-0-
SUB-TOTAL
$1,244,563
$634,162
$532,132
Design, Admin., Insp., As-Builts (8%)
99,565
50,733
39,826
Total:
$1,344,128
$684,895
$571,958
That the required financial guarantee and Letter of Credit No. 63669130 for the above items be reduced
from $684,895 to $571,958.
BE IT HEREBY RESOLVED that the financial guarantee requirements for the following items per
Section 31 of the approved Development Contract remain as follows:
ITEM
Maintenance of Erosion and Sediment
Control Plan
Temporary Turnaround Removal
ORIGINAL
NEW
AMOUNT
AMOUNT
Cash: $1,000
$1,000
Cash: $6,000
$6,000
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of May
12, 2015, subject to the two-year guarantee by the Developer per Letter of Credit No. 63669130.
APPROVED by the City Council on this 12th day of May, 2015.