HomeMy WebLinkAboutCity Council Resolution 2016-167
C ITY OF P LYMOUTH
R ESOLUTION N O. 2016-167
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE
ND
FOR S ERENITY ON THE G REENWAY 2 A DDITION (2015057)
WHEREAS, in accordance with the development contract dated August 17, 2015, Serenity on the
Greenway Inc., developer of Serenity on the Greenway Addition 2nd Addition (2015057), 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. 318 for the items be reduced from $435,488 to $411,141:
Original Current New
Item Amount Amount Amount
Street Construction 347,252 173,626 173,626
Sanitary Sewer 199,685 59,906 49,921
Watermain 150,650 45,195 37,663
Storm Sewer System 100,535 30,161 25,134
Boulevard and Drainage Swale Sod/Seed 10,370 10,370 10,370
Retaining Walls 20,000 20,000 20,000
Street & Traffic Control Signs 1,550 0 0
Sidewalk 43,923 43,923 43,923
Trail 5,100 5,100 5,100
Street Lighting 16,125 0 0
Erosion Control 5,000 3,750 3,750
Setting Iron Monuments 11,200 11,200 11,200
Subtotal $911,390 $403,230 $380,687
Design, Administration, Inspection, As-
Builts(8%) $72,911 $32,258 $30,455
Total $984,301 $435,488 $411,141
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of May 24,
2016, subject to the two-year guarantee by the Developer per Letter of Credit No. 318.
APPROVED by the City Council on this 24th day of May, 2016.