HomeMy WebLinkAboutCity Council Resolution 2017-325
C ITY OF P LYMOUTH
R ESOLUTION N O. 2017-325
R ESOLUTION A CCEPTING S TREETS FOR C ONTINUAL M AINTENANCE
FOR S ERENITY ON THE G REENWAY (2014018)
WHEREAS, in accordance with the development contract dated July 29, 2014, Serenity on the Green,
Inc., developer of Serenity on the Greenway (2014018), 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. 279 for the items be reduced from $170,910 to $104,027:
% of
Original Current New Original
Item Amount Amount Amount Amount
Street Construction 316,662 126,665 79,166 25%
Sanitary Sewer 214,211 0 0 0%
Watermain 122,925 0 0 0%
Storm Sewer System 134,248 0 0 0%
Boulevard and Drainage Swale
Sod/Seed 10,814 5,407 4,326 40%
Retaining Walls 20,000 0 0 0%
Street & Traffic Control Signs 4,000 0 0 0%
Sidewalk 41,956 16,782 10,489 25%
Trail 9,360 3,744 2,340 25%
Street Lighting 10,125 0 0 0%
Setting Iron Monuments 9,300 0 0 0%
Subtotal $893,601 $152,598 $96,321 11%
Design, Administration, Inspection, As-
Builts (8%) $71,488 $18,312 $7,706
Total $965,089 $170,910 $104,027 11%
BE IT FURTHER RESOLVED that the streets are accepted for continuous maintenance as of
October 24, 2017, subject to the one-year guarantee by the Developer per Letter of Credit No. 279.
APPROVED by the City Council on this 24th day of October, 2017.