HomeMy WebLinkAboutCity Council Resolution 2011-051CITY OF PLYMOUTH
RESOLUTION No. 2011-051
A RESOLUTION ACCEPTING UTILITIES FOR CONTINUAL MAINTENANCE
FOR TARYN HILLS 9T" ADDITION (2010012)
WHEREAS, in accordance with the development contract dated March 24th, 2010, U.S. Home
Corporation, developer of Taryn Hills 9th Addition (2010012), 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 for the above items be reduced as detailed above from $335,804 to
$171,289 to reflect the completed work. Letter of Credit No. S-18766 may be reduced to $172,319 that
includes the item below.
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Construction
$ 190,800
$ 114,480
Sanitary Sewer System
39,801
9,950
Watermain System
45,205
11,301
Storm Sewer System
9,694
2,423
Blvd & Drainage Swale Sod, Silt Fence
1,400
1,400
Street and Traffic Control Signs
2,025
2,025
Site Grading & Drainage Improvements
6,000
6,000
Setting Iron Monuments
9,900
-0-
Design, Admin., Insp., As-Builts
35,979
23,710
TOTAL
$ 335,804
$ 171,289
That the required financial guarantee for the above items be reduced as detailed above from $335,804 to
$171,289 to reflect the completed work. Letter of Credit No. S-18766 may be reduced to $172,319 that
includes the item below.
Resolution No. 2011-051
Page 2
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
S-18766: $ 1,030 $ 1,030
FURTHER BE IT RESOLVED that the utilities are accepted for continuous maintenance
as of February 22, 2011, subject to the two-year guarantee by the Developer per Letter of Credit
No. S-18766.
Approved this 22nd day of February, 2011.