HomeMy WebLinkAboutCity Council Resolution 2016-374
C ITY OF P LYMOUTH
R ESOLUTION N O. 2016-374
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE
FOR V ILLAS AT C OPPER C REEK (2015052)
WHEREAS, in accordance with the development contract dated April 27, 2016, Villas at Copper
Creek, Inc., developer of Villas at Copper Creek (2015052), 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. 734108502 for the items be reduced from
$882,590 to $328,914:
Original New
Item Amount Amount
Street Construction 233,494 140,096
Sanitary Sewer 144,347 36,087
Watermain 142,267 35,567
Storm Sewer System 176,575 44,144
Boulevard and Drainage Swale
Sod/Seed 6,670 6,670
Retaining Walls 30,000 0
Pond Construction 30,000 15,000
Street & Traffic Control Signs 2,850 0
Sidewalk 26,310 15,786
Street Lighting 13,500 0
Setting Iron Monuments 11,200 11,200
Subtotal $817,213 $304,550
Design, Administration, Inspection, As-
Builts(8%) $65,377 $24,364
Total $882,590 $328,914
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.
734108502.
APPROVED by the City Council on this 13th day of December, 2016.