HomeMy WebLinkAboutCity Council Resolution 2011-010CITY OF PLYMOUTH
RESOLUTION No. 2011-010
A RESOLUTION ACCEPTING UTILITIES FOR CONTINUAL MAINTENANCE AND
AUTHORIZE REIMBURSEMENT FOR TRUNK UTILITIES
FOR SPRING MEADOWS (2009025)
WHEREAS, in accordance with the development contract dated June 18th, 2010, 5505
Vicksburg, LLC, developer of Spring Meadows (2009025), 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
WHEREAS, the developer has installed the trunk utilities in accordance with the
development contract but actual costs were higher than estimated.
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 (Includes Turnaround
& Bypass Lane)
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond and Retention Area
Street & Traffic Control Signs
Sidewalk Improvements
Landscaping - Irrigation
Street Lighting
Site Grading and Drainage Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-
Bullts
TOTAL
ORIGINAL
CURRENT
NEW
AMOUNT
AMOUNT
AMOUNT
$562,482
$ 140,620
$ 140,620
282,203
70,551
70,551
564,941
171,235
171,235
141,551
35,388
35,388
16,563
16,563
16,563
40,000
8,000
8,000
5,970
1,194
1,194
51,714
51,714
51,714
1,700
340
340
45,000
-0-
-0-
203,656
40,731
40,731
13,100
-0-
-0-
231,465
46,293
46,293
2,160,345
$582,629
$582,629
Resolution No. 2011-010
Page 2 of 2
That the required financial guarantee and Letter of Credit No. 111 for the above items remain at
$582,629.
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
Cash
ORIGINAL CURRENT
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 23,500 $ 23,500
FURTHER BE IT RESOLVED that the utilities are accepted for continuous maintenance
as of January 11, 2011, subject to the two-year guarantee by the Developer per Letter of Credit
No. 111.
FURTHER BE IT RESOLVED the estimated reimbursement for the trunk utilities was
$163,145 with a total reimbursement amount of $201,117. Final reimbursement amount of
$37,972 to the developer is hereby approved and the City's Administrative Services Director is
hereby authorized to pay the same forthwith. Funding will be from the Trunk Utilities Fund.
Approved this 11th day of January, 2011.