HomeMy WebLinkAboutCity Council Resolution 2003-581CITY OF PLYMOUTH
RESOLUTION NO. 2003-581
ACCEPTANCE OF STREETS FOR CONTINUAL MAINTENANCE
TIMBER CREEK CROSSING (2001114)
WHEREAS, in accordance with the development contract dated October 9, 2002, US Homes Corporation,
developer of Timber Creek Crossing (2001114), has agreed to install certain improvements for said
development; and
WHEREAS, the developer has completed street, utility and site grading as noted below; and
WHEREAS, the developer has requested acceptance of the streets for continual maintenance;
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 for the above items be reduced as detailed above from $340,044 to
$162,839 to reflect the completed work. Letter of Credit No. FGAC-03083 may be reduced accordingly.
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Construction
$ 153,087
$ 84,741
-0-
Mobilization
12,627
-0-
-0-
Schmidt Lake Road
115,514
42,851
-0-
Garland Lane/51st Avenue
110,265
30,627
-0-
Embankment Const. Schmidt Lake Road
404,140
-0-
-0-
Sanitary Sewer
107,729
-0-
-0-
Watermain
172,644
-0-
-0-
Storm Sewer
178,724
-0-
-0-
Boulevard and Drainage Swale Sod
5,000
5,000
5,000
Rain Garden
3,000
3,000
3,000
Mitigation Pond Construction
20,000
20,000
20,000
N URP Pond Construction
40,340
20,170
20,170
Permanent Traffic Control
5,865
5,865
5,865
Street Signs (4 x 200)
800
800
800
Park and Trail Improvements
13,057
13,057
13,057
Site Grading and Drainage Improvements
140,000
70,000
70,000
Setting Iron Monuments
7,500
7,500
7,500
Design, Administration, Inspection, As-
178,835
36,433
17,447
Builts
TOTAL
$ 1,669,127
$ 340,044
$ 162,839
That the required financial guarantee for the above items be reduced as detailed above from $340,044 to
$162,839 to reflect the completed work. Letter of Credit No. FGAC-03083 may be reduced accordingly.
RESOLUTION NO. 2003-581
TIMBER CREEK CROSSING (2001114)
Page Two
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 (see Grading Permit for Financial
Guarantee Requirements)
Cash:
Financial Guarantee:
ORIGINAL NEW
AMOUNT AMOUNT
$ -0- $_0_
$
-0-
$ -0- $_0_
FURTBER
-0-
FURTHER BE IT RESOLVED that the street construction is accepted for continual maintenance as of
December 16, 2003 subject to the two-year guarantee by the Developer per Maintenance Bond No. 5965656
issued by Great American Insurance Company.
Adopted by the City Council on December 16, 2003.