HomeMy WebLinkAboutCity Council Resolution 2018-083
C ITY OF P LYMOUTH
R ESOLUTION N O. 2018-083
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE FOR
S UMMERS E DGE S OUTH (2017008)
WHEREAS, in accordance with the development agreement dated May 9, 2017,
Summergate Development, LLC., developer of Summers Edge South (2017008), 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. 754 for the
items be reduced from $1,285,032 to $829,812:
Original Current New % of Original
Item Amount Amount Amount Amount
Street Construction 435,000 261,000 261,000 60%
Sanitary Sewer System 210,000 105,000 52,500 25%
Watermain System 215,000 107,500 53,750 25%
Storm Sewer System 245,000 122,500 61,250 25%
Boulevard and Drainage Swale Sod 18,000 18,000 18,000 100%
Pond Construction 25,000 25,000 12,500 50%
Street & Traffic Control Signs 2,500 0 0 0%
Sidewalk Improvements 55,000 33,000 33,000 60%
Landscaping 128,750 128,750 128,750 100%
Street Lighting 12,000 0 0 0%
Erosion Control 33,000 24,750 24,750 75%
Site Grading & Drainage Improvements 345,000 345,000 103,500 30%
Setting Iron Monuments 8,000 8,000 8,000 100%
Tree Preservation and Reforestation 11,344 11,344 11,344 100%
Subtotal $1,743,594 $1,189,844 $768,344 44%
Design, Admin, Insp, As-Builts (8%) $95,487 $95,188 $61,468 8%
Total $1,883,081 $1,285,032 $829,812 44%
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. 754.
APPROVED by the City Council on this 27th day of February, 2018.