HomeMy WebLinkAboutCity Council Resolution 2018-061
C ITY OF P LYMOUTH
R ESOLUTION N O. 2018-061
R ESOLUTION A CCEPTING S TREETS FOR C ONTINUAL M AINTENANCE FOR
B RYNWOOD 2 ND A DDITION (2015027)
WHEREAS, in accordance with the development contract dated June 10, 2015, K. Hovnanian
Homes of Minnesota at Brynwood LLC, and the re-assignment of the development contract to D.R.
Horton, Inc.–Minnesota on June 1, 2016, developers of Brynwood 2nd Addition (2015027), 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. 006070237 for the items be reduced from $271,827 to
$156,371:
% of
Original Current Original
Item Amount Amount New Amount Amount
Street Construction $190,415 $114,249 $47,604 25%
Sanitary Sewer System 71,638 17,910 17,910 25%
Watermain System 90,646 22,621 22,662 25%
Storm Sewer System 80,029 20,507 20,007 25%
Boulevard and Drainage Swale Sod 5,200 5,200 1,820 35%
Removal of Temp. Cul-De-Sac 1,500 1,500 0 0%
Street & Traffic Control Signs 13,150 1,890 0 0%
Sidewalk Improvements 37,845 22,707 9,461 25%
Landscaping 15,400 15,400 15,400 100%
Street Lighting 8,250 8,250 0 0%
Erosion Control 10,071 10,071 3,525 35%
Setting Iron Monuments 6,400 6,400 6,400 100%
Subtotal $522,544 $246,705 $144,788 28%
Design, Admin, Insp, As-Builts (8%) $41,803 $25,082 $11,583
Total $564,347 $271,827 $156,371 28%
BE IT FURTHER RESOLVED that the streets are accepted for continuous maintenance as of
February 13, 2018, subject to the one-year guarantee by the Developer per Letter of Credit No.
006070237.
APPROVED by the City Council on this 13th day of February, 2018.