HomeMy WebLinkAboutCity Council Resolution 2016-013
CP
ITY OF LYMOUTH
RN.2016-013
ESOLUTION O
RASCM
ESOLUTION CCEPTING TREETS FOR ONTINUAL AINTENANCE
K2A(2012054)
FOR IRKWOOD ND DDITION
WHEREAS, in accordance with the development contract dated March 19, 2013, US Homes
nd
Corp., DBA Lennar, developer of Kirkwood 2 Addition (2012054), 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:
ORIGINAL CURRENT NEW
ITEM AMOUNT AMOUNT AMOUNT
Street Construction $528,620 $211,500 $132,155
Sanitary Sewer 248,198 62,050 62,050
Watermain 218,138 54,535 54,535
Storm Sewer System 242,520 60,630 60,630
Retaining Walls 40,000 0 0
Pond Construction 10,000 2,500 2,500
Street & Traffic Control Signs 4,500 0 0
Sidewalk Improvements 70,522 28,210 17,631
Trail Improvements 51,500 20,600 12,875
Landscaping 218,400 53,750 25,300
Street Lighting 19,875 0 0
Erosion Control and Boulevard Sod 17,520 8,760 8,760
Setting Iron Monuments 21,800 0 0
Design, Administration, Inspection, As-135,327 33,832 33,832
Builts (12%)
Total: $1,826,920 $536,367 $410,268
That the required financial guarantee and Letter of Credit No. 63670128 for the above items be reduced
from $536,367 to $410,268.
BE IT FURTHER 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: $ 1,000 $ 1,000
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of
January 12, 2016, subject to the one-year guarantee by the Developer per Letter of Credit No.
63670128.
APPROVED by the City Council on this 12th day of January, 2016.