HomeMy WebLinkAboutCity Council Resolution 2016-262
C ITY OF P LYMOUTH
R ESOLUTION N O. 2016-262
R ESOLUTION A CCEPTING S TREETS AND U TILITIES FOR C ONTINUAL M AINTENANCE
FOR R OSE G ARDEN (2014007)
WHEREAS, in accordance with the development contract dated September 18, 2014, SVK
Development LLC, developer of Rose Garden (2014007), 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 in the form of cash for the items be reduced from $298,140 to $148,230:
ORIGINAL CURRENT NEW
ITEM AMOUNT AMOUNT AMOUNT
Street Construction $158,500 $ 95,100 $ 39,625
Sanitary Sewer 25,000 12,500 6,250
Watermain 163,000 81,500 40,750
Storm Sewer System 92,800 46,400 23,200
Boulevard and Drainage Swale 4,000 4,000 0
Sod/Seed
Retaining Walls 64,000 0 0
Bioretention Area 10,000 5,000 5,000
Street & Traffic Control Signs 2,000 1,000 0
Trail Improvements 8,500 5,100 2,125
Landscaping 20,300 20,300 20,300
Street Lights 7,500 0 0
Setting Iron Monuments 6,900 0 0
Removal of Temporary Turn-arounds 5,000 0 0
Design, Administration, Inspection, As-45,400 27,240 10,980
Builts(8%)
Total: $612,900 $298,140 $148,230
BE IT FURTHER RESOLVED that the streets are accepted for continuous maintenance as of August
9, 2016, subject to the one-year guarantee by the Developer in the form of cash.
APPROVED by the City Council on this 9th day of August, 2016.