HomeMy WebLinkAboutCity Council Resolution 2018-082
C ITY OF P LYMOUTH
R ESOLUTION N O. 2018-082
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE FOR
E NCLAVE AT E LM C REEK (2017068) D EVELOPMENT A GREEMENT
WHEREAS, in accordance with the development agreement dated August 28,
2017, West Plymouth Development, Inc., developer of Enclave at Elm Creek (2017068),
has agreed to install certain improvements for said development; and
WHEREAS, the developer has completed a portion of the street, utility and site
grading related to 54th Avenue 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. 1152 for the
items be reduced from $588,222 to $475,335:
Original Current New % of Original
Item Amount Amount Amount Amount
Street Construction 450,000 270,000 270,000 60%
Sanitary Sewer System 212,000 106,000 53,000 25%
Watermain System 125,000 62,500 31,250 25%
Stom Sewer System 65,100 32,550 16,275 25%
Boulevard and Drainage Swale Sod 2,700 2,700 2,700 100%
Infiltration Basin 7,300 7,300 7,300 100%
Street & Traffic Control Signs 4,000 0 0 0%
Sidewalk Improvements 45,500 45,500 45,500 100%
Landscaping 20,000 0 0 0%
Street Lighting 4,000 4,000 0 0%
Site Grading & Drainage Improvements 11,600 11,600 11,600 100%
Setting Iron Monuments 2,500 2,500 2,500 100%
Subtotal $949,700 $544,650 $440,125 46%
Design, Admin, Insp, As-Builts (8%) $75,976 $43,572 $35,210 8%
Total $1,025,676 $588,222 $475,335 46%
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. 1152.
APPROVED by the City Council on this 27th day of February, 2018.