HomeMy WebLinkAboutCity Council Resolution 2018-080
C ITY OF P LYMOUTH
R ESOLUTION N O. 2018-080
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE FOR
C REEKSIDE H ILLS (2017001)
WHEREAS, in accordance with the development contract dated May 23, 2017,
Creekside Hills Development, Inc., developer of Creekside Hills (2017001), 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. 1141 for the
items be reduced from $2,264,912 to $1,113,576:
Original Current New % of Original
Item Amount Amount Amount Amount
Street Construction 492,360 295,416 295,416 60%
Sanitary Sewer System 429,450 214,725 107,363 25%
Watermain System 230,555 115,278 57,639 25%
Stom Sewer System 303,975 135,988 75,994 25%
Pond Sand Filter 32,000 32,000 32,000 100%
Boulevard and Drainage Swale Sod 12,545 12,545 12,545 100%
Retaining Walls 254,750 0 0 0%
Pond Construction 17,115 17,115 8,558 50%
Rain Garden / Filtration Basin 27,075 27,075 27,075 100%
Street & Traffic Control Signs 2,250 0 0 0%
Sidewalk Improvements 72,300 72,300 72,300 100%
Landscaping 46,200 46,200 46,200 100%
Street Lighting 11,250 0 0 0%
Site Grading & Drainage Improvements 1,100,000 1,100,000 275,000 25%
Setting Iron Monuments 21,000 21,000 21,000 100%
Wetland Mitigation 7,500 7,500 0 0%
Subtotal $3,060,325 $2,097,141 $1,031,089 34%
Design, Admin, Insp, As-Builts (8%) $244,826 $167,771 $82,487 8%
Total $3,305,151 $2,264,912 $1,113,576 34%
Resolution No. 2018-080
Page 2 of 2
BE IT FURTHER RESOLVED that the utilities are accepted for continuous
maintenance as of February 27, 2018, subject to the two-year guarantee by the
Developer per Letter of Credit No. 1141.
APPROVED by the City Council on this 27th day of February, 2018.