HomeMy WebLinkAboutCity Council Resolution 2016-035
C ITY OF P LYMOUTH
R ESOLUTION N O. 2016-035
R ESOLUTION A CCEPTING S TREETS FOR C ONTINUAL M AINTENANCE
FOR H AMPTON H ILLS 5 TH A DDITION (2012102)
WHEREAS, in accordance with the development contract dated March 4, 2013, Hampton Hills
Investment, LLC, developer of Hampton Hills 5th Addition (2012102), 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 below and that the
required financial guarantee and Letter of Credit No. ISOO26217U for the items be reduced from
$287,025 to $222,747:
ORIGINAL CURRENT NEW
ITEM AMOUNT AMOUNT AMOUNT
Street Construction $342,680 $ 137,000 $ 85,670
Sanitary Sewer 162,600 40,650 40,650
Watermain 168,740 42,185 42,185
Storm Sewer System 88,421 22,105 22,105
Boulevard and Drainage swale sod 4,232 3,174 1,060
Street & Traffic Control Signs 1,7000 0 0
Sidewalk Improvements 29,150 11,660 7,288
Retaining Walls 4,000 4,000 1,000
Street Lighting 10,875 0 0
Erosion Control and Silt Fence 4,000 4,000 1,500
Site Grading and Drainage 6,616 1,654 1,654
Improvements
Setting Iron Monuments 6,800 0 0
Tree preservation 3,922 3,922 0
Design, Administration, Inspection, As-66,698 16,675 16,675
Builts(12%)
Total: $900,434 $287,025 $222,747
Commented \[LF1\]: Should this be a period or a comma?
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 streets are accepted for continuous maintenance as of
February 9, 2016, subject to the one-year guarantee by the Developer per Letter of Credit No.
IS0026217U.
APPROVED by the City Council on this 9th day of February, 2016.