HomeMy WebLinkAboutCity Council Resolution 2017-300
C ITY OF P LYMOUTH
R ESOLUTION N O. 2017-300
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE
FOR V ILLAS AT C OPPER C REEK 2 ND A DDITION (2017007)
WHEREAS, in accordance with the development contract dated April 11, 2017, Villas at Copper
Creek, Inc., developers of Villas at Copper Creek 2nd Addition (2017007), have 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. 734108504 for the items be reduced from
$158,090 to $114,991:
Original Current New % of Original
Item Amount Amount Amount Amount
Street Construction 116,175 69,705 69,705 60%
Sanitary Sewer System 46,200 23,100 11,550 25%
Watermain System 52,550 26,275 13,138 25%
Boulevard and Drainage Swale Sod/Seed 1,550 1,550 1,550 100%
Street & Traffic Control Signs 1,700 0 0 0%
Sidewalk Improvements 17,550 17,550 10,530 60%
Street Lighting 3,000 3,000 0 0%
Setting Iron Monuments 5,200 5,200 0 0%
Subtotal $251,725 $146,380 $106,473 42%
Design, Administration, Inspection, As-
Builts(8%) $20,138 $11,710.40 $8,518 8%
Total $271,863 $158,090 $114,991 42%
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of
September 26, 2017, subject to the two-year guarantee by the Developer per Letter of Credit No.
734108504.
APPROVED by the City Council on this 26th day of September, 2017.