HomeMy WebLinkAboutCity Council Resolution 2010-031CITY OF PLYMOUTH
RESOLUTION No. 2010-031
A RESOLUTION TO ACCEPT STREETS FOR CONTINUAL MAINTENANCE
FOR TARYN HILLS 5T" ADDITION
WHEREAS, in accordance with the development contract dated December 28, 2005, US Home
Corporation, developer of Taryn Hills 5TH Addition (2007018), 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:
ITEM
Street Constriction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard & Drainage Swale Sod
Street & Traffic Control Signs
Sidewalk Improvements
Landscaping (plantings)
Site Grading & Drainage Improvements
Setting Iron Monuments
Street Lights
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$ 718,830
144,000
-0-
364,314
-0-
-0-
371,123
-0-
-0-
435,372
-0-
-0-
9,100
2,500
2,500
11,025
8,300
-0-
35,050
-0-
-0-
137,046
35,000
-0-
302,830
25,000
15,000
18,500
-0-
-0-
2,025
-0-
-0-
288,626
35,100
10,000
$ 2,693,841
249,900
27,500
That the required financial guarantee for the above items be reduced as detailed above from $249,900 to
$27,500 to reflect the completed work. Letter of Credit No. 07078 may be reduced accordingly.
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 Letter of Credit No. FGAC-07076
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 13,985 $ 13,985
FURTHER BE IT RESOLVED that the street constriction is accepted for continuous maintenance as
of January 26, 2010 subject to the one-year guarantee by the contractors per Maintenance Bond No. 1104253
issued by Arch Insurance Company.
APPROVED THIS 26TH DAY OF JANUARY, 2010.