HomeMy WebLinkAboutCity Council Resolution 2016-373
C ITY OF P LYMOUTH
R ESOLUTION N O. 2016-373
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE
FOR T HE P INES AT E LM C REEK (2015059)
WHEREAS, in accordance with the development contract dated September 22, 2015, OP4 The Pines,
LLC, developer of The Pines at Elm Creek (2015059), 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. DC112684US25315 for the items be reduced from $829,546 to
$560,020:
Original Current New
Item Amount Amount Amount
Street Construction 443,823 266,294 266,294
Sanitary Sewer 392,878 196,439 98,220
Watermain 275,593 137,797 68,898
Storm Sewer System 141,974 70,987 35,494
Boulevard and Drainage Swale
Sod/Seed 11,132 11,132 11,132
Retaining Walls 20,000 20,000 0
Pond Construction 20,000 10,000 10,000
Filtration Basin 5,000 5,000 3,500
Street & Traffic Control Signs 1,550 1,550 0
Sidewalk 25,000 25,000 15,000
Landscaping 10,000 10,000 10,000
Street Lighting 15,000 0 0
Setting Iron Monuments 13,900 13,900 0
Removal of Temp Turn-around 5,000 0 0
Tree Preservation and Reforestation 29,781 29,781 0
Subtotal $1,410,631 $768,098 $518,537
Design, Administration, Inspection, As-
Builts(8%) $112,850 $61,448 $41,483
Total $1,523,481 $829,546 $560,020
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of
December 13, 2016, subject to the two-year guarantee by the Developer per Letter of Credit No.
DC112684US25315.
APPROVED by the City Council on this 13th day of December, 2016.