HomeMy WebLinkAboutCity Council Resolution 2016-340
C ITY OF P LYMOUTH
R ESOLUTION N O. 2016-340
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE
FOR S UMMERS E DGE (2015030)
WHEREAS, in accordance with the development contract dated June 10, 2015, Summergate
Development, LLC, developer of Summers Edge (2015030), 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. 7777741 for the items be reduced from $1,337,317
to $642,402:
Original Current New
Item Amount Amount Amount
Street Construction 290,005 232,000 174,003
Sanitary Sewer 105,960 80,000 26,490
Watermain 133,210 133,210 33,303
Storm Sewer System 100,352 75,000 25,088
Boulevard Sod & Silt Fence 11,453 11,453 9,735
Retaining Walls 180,325 180,325 0
Pond Construction 10,000 10,000 5,000
Street and Traffic Control Signs 2,150 1,600 0
Sidewalk Improvements 40,010 40,010 24,006
Trail Improvements 17,368 17,368 10,421
Landscaping 249,850 249,850 81,139
Street Lighting 12,375 12,375 0
Erosion Control 17,000 12,750 11,560
Site Grading and Drainage Improvements 162,328 162,328 162,328
Setting Iron Monuments 9,400 9,400 9,400
Tree Preservation and Reforestation 22,344 22,324 22,344
Subtotal $1,364,130 $1,249,993 $594,816
Design, Administration, Inspection, As-
Builts(8%) $109,130 $87,304 $47,585
Total $1,473,260 $1,337,317 $642,402
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of
November 16, 2016, subject to the two-year guarantee by the Developer per Letter of Credit No.
7777741.
APPROVED by the City Council on this 16th day of November, 2016.