HomeMy WebLinkAboutCity Council Resolution 2011-363CITY OF PLYMOUTH
RESOLUTION No. 2011-363
A RESOLUTION ACCEPTING UTILITIES FOR CONTINUAL MAINTENANCE AND
AUTHORIZE REIMBURSEMENT FOR TRUNK UTILITIES
FOR HAMPTON HILLS 2ND ADDITION (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; 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
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
10,050
6,030
2,700
2,700
700
30,130
30,130
15,100
1,900
1,900
1,900
35,000
35,000
0
176,855
88,427
17,685
7,200
1,440
1,440
$186,363
$93,181
$22,363
$1,739,387
$625,662
$428,052
Resolution No. 2011-363
Page 2 of 2
That the required financial guarantee and Letter of Credit No. NZS665256 for the above items be
reduced from $625,662 to $428,052.
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
ITEM AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm Sewer
Cleaning
Cash: $2,000
Financial Guarantee Letter of Credit No NZS665258: $13,000
Tree Preservation Financial Guarantee Letter of Credit NZS665257: $25,637
Wetland Mitigation Financial Guarantee Letter of Credit NZS665254: $32,000
NEW
AMOUNT
$2,000
$13,000
$25,637
$32,000
FURTHER BE IT RESOLVED that the utilities are accepted for continuous maintenance
as of October 25, 2011, subject to the two-year guarantee by the Developer per Letter of Credit
No. NZS665256.
FURTHER BE IT RESOLVED the estimated reimbursement for the trunk sanitary sewer
was $166,316.08 with a total reimbursement amount of $190,735.67. Final reimbursement
amount of $190,735.67 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 25th day of October, 2011.