HomeMy WebLinkAboutCity Council Resolution 2018-060
C ITY OF P LYMOUTH
R ESOLUTION N O. 2018-060
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE FOR
D UNKIRK G ATEWAY (2015114)
WHEREAS, in accordance with the development contract dated October 4, 2016,
Dunkirk Gateway, LLC, developer of Dunkirk Gateway (2015114), 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. 274 for the
items be reduced from $1,166,751 to $682,641:
% of
Original Current New Original
Item Amount Amount Amount Amount
Street Construction 300,000 180,000 180,000 60%
Sanitary Sewer 240,000 120,000 60,000 25%
Watermain 220,000 110,000 55,000 25%
Storm Sewer System 137,000 68,500 34,250 25%
Boulevard and Drainage Swale
Sod/Seed 20,000 20,000 20,000 100%
Retaining Walls 265,000 265,000 26,500 10%
Pond Construction 20,000 10,000 10,000 50%
Biofiltration Basin 80,000 40,000 40,000 50%
Street & Traffic Control Signs 5,000 2,500 0 0%
Sidewalk 40,000 24,000 24,000 60%
Street Lighting 10,000 0 0 0%
Erosion Control 60,000 45,000 45,000 75%
Landscaping 84,700 84,700 84,700 100%
Removal of Temp Turn-around 5,000 0 0 0%
Site Grading and Drainage
Improvement 290,000 101,500 43,500 15%
Setting Iron Monuments 8,100 0 0 0%
Tree Preservation and Reforestation 9,125 9,125 9,125 100%
Subtotal $1,793,925 $1,080,325 $632,075 35%
Design, Admin, Insp, As-Builts (8%) $143,514 $86,426 $50,566 8%
Total $1,937,439 $1,166,751 $682,641 35%
R ESOLUTION NO. 2018-060
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 per Letter of Credit No. 274.
APPROVED by the City Council on this 13th day of February, 2018.