HomeMy WebLinkAboutCity Council Resolution 2018-268
C ITY OF P LYMOUTH
R ESOLUTION N O. 2018-268
R ESOLUTION A CCEPTING S TREETS FOR C ONTINUAL M AINTENANCE FOR
S UMMERS E DGE (2015030) D EVELOPMENT C ONTRACT
WHEREAS, in accordance with the development contract dated June 10, 2015, Summergate
Development, LLC., developer of Summers Edge (2015030), 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. 7777741 for the items be reduced from $504,316 to
$342,019:
Original Current New % of Original
Item Amount Amount Amount Amount
Street Construction 290,005 174,003 72,501 25%
Sanitary Sewer 105,960 26,490 26,490 25%
Watermain 133,210 33,303 33,303 25%
Storm Sewer System 100,352 25,088 25,088 25%
Boulevard Sod & Silt Fence 11,453 9,735 9,735 50%
Retaining Walls 180,325 0 0 0%
Pond Construction 10,000 5,000 5,000 50%
Street and Traffic Control Signs 2,150 0 0 0%
Sidewalk Improvements 40,010 24,006 10,003 25%
Trail Improvements 17,368 10,421 4,342 25%
Landscaping 249,850 81,139 81,139 32%
Street Lighting 12,375 0 0 0%
Erosion Control 17,000 11,560 8,500 50%
Site Grading and Drainage Improvements 162,328 56,815 40,582 25%
Setting Iron Monuments 9,400 9,400 0 0%
Tree Preservation and Reforestation 22,344 0 0 0%
Subtotal $1,364,130 $466,959 $316,683 34%
Design, Administration, Inspection, As-
Builts(8%) $109,130 $37,357 $25,335 8%
Total $1,473,260 $504,316 $342,018 23%
BE IT FURTHER RESOLVED that the streets are accepted for continuous maintenance as of July
24, 2018, subject to the three-year guarantee by the Developer per Letter of Credit No. 7777741.
APPROVED by the City Council on this 24th day of July, 2018.