HomeMy WebLinkAboutCity Council Resolution 2015-306
CP
ITY OF LYMOUTH
RN.2015-306
ESOLUTION O
RAUCM
ESOLUTION CCEPTING TILITIES FOR ONTINUAL AINTENANCE
PP(2014010)
FOR LYMOUTH RESERVE
WHEREAS, in accordance with the development contract dated September 26, 2014, Plymouth
Preserve, LLC, developer of Plymouth Preserve (2014010), 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:
ORIGINAL CURRENT NEW
ITEM AMOUNT AMOUNT AMOUNT
Street Construction $216,392 $ 86,557 $ 86,557
Sanitary Sewer 166,700 50,010 41,675
Watermain 119,500 35,850 29,875
Storm Sewer System 103,950 31,185 25,988
Retaining Walls 30,000 12,000 12,000
Pond Construction 10,000 4,000 4,000
Construct Temp. CDS Turn-arounds 12,000 -0- -0-
Street and Traffic Control Signs 1,525 -0- -0-
Sidewalk Improvements 25,578 10,231 10,231
Trail Improvements 15,000 6,000 6,000
Landscaping 17,850 17,850 17,850
Street Lights 10,125 -0- -0-
Erosion Control and Boulevard Sod 5,240 5,240 5,240
Site Grading and Drainage Improvements 426,405 -0- -0-
Setting Iron Monuments 8,100 4,000 -0-
Removal of Temp. Turn-arounds 5,000 -0- -0-
Tree Preservation and Reforestation 43,950 -0- -0-
Wetland Mitigation and Restoration 8,300 8,300 8,300
SUB-TOTAL $1,225,615 $267,223 $247,716
Design, Admin., Insp., As-Builts (8%) 98,049 29,415 29,415
TOTAL $1,323,664 $296,638 $277,131
That the required financial guarantee and Letter of Credit No. 413 for the above items be reduced from
$296,638 to $277,131.
T
BE IT HEREBY RESOLVED that the financial guarantee requirements for the following items per
Section 31 of the approved Development Contract remain as follows:
ORIGINAL NEW
ITEM AMOUNT AMOUNT
Maintenance of Erosion and Sediment
Control Plan Cash: $1,000 $1,000
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of
October 27, 2015, subject to the two-year guarantee by the Developer per Letter of Credit No. 413.
APPROVED by the City Council on this 27th day of October, 2015.