HomeMy WebLinkAboutCity Council Resolution 2018-058
C ITY OF P LYMOUTH
R ESOLUTION N O. 2018-058
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE FOR
M EADOW R IDGE P ONDS (2017016)
WHEREAS, in accordance with the development contract dated June 26, 2017,
RR Island View LLC, developer of Meadow Ridge Ponds (2017016), 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 guarantee for the items be reduced from $584,829
to $424,565:
% of
Original Current New Original
Item Amount Amount Amount Amount
Street Construction 172,040 103,224 103,224 60%
Sanitary Sewer System 86,950 43,475 21,738 25%
Watermain System 75,835 37,918 18,959 25%
Storm Sewer System 46,705 23,353 11,676 25%
Boulevard and Drainage Swale Sod 3,600 3,600 3,600 100%
Retaining Walls 20,275 20,275 20,275 100%
Pond Construction 13,000 13,000 6,500 50%
Street & Traffic Control Signs 2,000 0 0 0%
Sidewalk Improvements 18,920 18,920 18,920 100%
Trail Improvements / Emergency
Access 6,000 6,000 6,000 100%
Landscaping 147,000 147,000 147,000 100%
Street Lights 4,500 0 0 0%
Site Grading & Drainage Improvements 111,900 111,900 22,380 20%
Setting Iron Monuments 7,000 0 0 0%
Tree Preservation & Re-Forestation 7,844 7,844 7,844 100%
Wetland Mitigation & Restoration 5,000 5,000 5,000 100%
Subtotal $728,569 $541,508 $393,116 54%
Design, Admin, Insp, As-Builts (8%) $58,285 $43,321 $31,449 8%
Total $786,854 $584,829 $424,565 54%
R ESOLUTION N O. 2018-058
P AGE 2 OF 2
BE IT FURTHER RESOLVED that the utilities are accepted for continuous
maintenance as of February 13, 2018, subject to the two-year guarantee by the
Developer’s financial guarantee.
APPROVED by the City Council on this 13th day of February, 2018.