HomeMy WebLinkAboutCity Council Resolution 2017-229
C ITY OF P LYMOUTH
R ESOLUTION N O. 2017-229
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE
FOR E LM C REEK P LACE (2016014)
WHEREAS, in accordance with the development contract dated August 17, 2016, Elm Creek
Meadows, LLC, developer of Elm Creek Place (2016014), 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. 202 for the items be reduced from $1,009,026 to
$821,970:
Original Current New
Item Amount Amount Amount
Street Construction 290,700 174,420 174,420
Turning & By-Pass Lane 68,000 68,000 68,000
Sanitary Sewer 325,000 162,500 81,250
Watermain 232,700 116,350 58,175
Storm Sewer System 135,100 67,550 33,775
Boulevard and Drainage Swale Sod/Seed 4,000 4,000 4,000
Retaining Walls 140,000 0 0
Pond Construction 20,000 10,000 10,000
Rain Garden/Infiltration Basin 22,600 11,300 11,300
Street & Traffic Control Signs 2,350 2,350 2,350
Sidewalk Improvements 49,300 49,300 49,300
Landscaping 167,550 167,550 167,550
Street Lighting 12,500 0 0
Erosion Control (see note below) 18,313 18,313
Site Grading and Drainage Improvement 165,300 82,650 82,650
Setting Iron Monuments 13,700 0 0
Subtotal $1,648,800 $934,283 $761,083
Design, Administration, Inspection, As-Builts (8%) $131,904 $74,743 $60,887
Total $1,780,704 $1,009,026 $821,970
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of June
27, 2017, subject to the two-year guarantee by the Developer per Letter of Credit No. 202.
APPROVED by the City Council on this 27th day of June, 2017.