HomeMy WebLinkAboutCity Council Resolution 2016-342
C ITY OF P LYMOUTH
R ESOLUTION N O. 2016-342
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE
FOR V ICKSBURG R IDGE (2014091)
WHEREAS, in accordance with the development contract dated April 23, 2015, Vicksburg 5, LLC,
developer of Vicksburg Ridge (2014091), 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 and that the required financial
guarantee and Letter of Credit No. 296 for the items be reduced from $433,083 to $179,682:
Original New
Item Amount Amount
Street Construction 98,552 59,131
Sanitary Sewer 59,344 14,836
Watermain 40,837 10,209
Storm Sewer System 50,593 12,648
Boulevard Sod & Silt Fence 6,000 6,000
Retaining Walls 5,000 0
Pond Construction 10,000 5,000
Street and Traffic Control Signs 2,500 0
Sidewalk Improvements 11,697 7,018
Landscaping 5,000 5,000
Street Lighting 4,125 0
Erosion Control 20,100 14,070
Site Grading and Drainage Improvements 78,455 27,459
Setting Iron Monuments 3,800 0
Removal of Temporary Turn-around 5,000 5,000
Subtotal $401,003 $166,372
Design, Administration, Inspection, As-Builts(8%) 32,080 13,310
Total $433,083 $179,682
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. 296.
APPROVED by the City Council on this 16th day of November, 2016.