HomeMy WebLinkAboutCity Council Resolution 2018-059
C ITY OF P LYMOUTH
R ESOLUTION N O. 2018-059
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE FOR
L ANEWOOD E STATES (2016040)
WHEREAS, in accordance with the development contract dated March 9, 2017,
Lanewood Estates, LLC, developer of Lanewood Estates (2016040), 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 and Letter of Credit No. 6328230 for the
items be reduced from $378,616 to $149,913:
% of
Original New Original
Item Amount Amount Amount
Street Construction 108,500 65,100 60%
Sanitary Sewer System 54,700 13,675 25%
Watermain System 38,700 9,675 25%
Storm Sewer System 30,750 7,688 25%
Boulevard and Drainage Swale Sod 3,575 3,575 100%
Retaining Walls 5,040 5,040 100%
Pond Construction 14,100 7,050 50%
Sidewalk Improvements 13,200 7,920 60%
Street Lighting 1,250 0 0%
Erosion Control 5,700 4,275 75%
Site Grading & Drainage Improvements 69,700 10,455 15%
Setting Iron Monuments 3,200 3,200 100%
Removal of Temporary Turn-around 1,000 0 0%
Tree Preservation & Reforestation 1,156 1,156 100%
Subtotal $350,571 $138,809 40%
Design, Admin, Insp, As-Builts (8%) $28,045 $11,105 8%
Total $378,616 $149,913 40%
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 per Letter of Credit No. 6328230.
APPROVED by the City Council on this 13th day of February, 2018.