HomeMy WebLinkAboutCity Council Resolution 2018-331
C ITY OF P LYMOUTH
R ESOLUTION N O. 2018-331
R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE FOR
C REEKSIDE W OODS (2017033)
WHEREAS, in accordance with the development contract dated September 12, 2017, Creekside
Plymouth, LLC, developer of Creekside Woods (2017033), and the re-assignment of the development
contract to Creekside Woods of Plymouth, LLC approved on October 9, 2018, developers of Creekside
Woods (2017033), have 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. The required
guarantee being reduced from $310,063 to $180,549. Letter of Credit No. 410 ($110,063) being reduced
to $0 and released and letter of credit no. 1081 ($200,000) being reduced to $180,549:
Original Current New % of Original
Item Amount Amount Amount Amount
Street Construction 80,000 48,000 48,000 60%
Sanitary Sewer System 101,000 50,500 25,250 25%
Watermain System 62,000 31,000 15,500 25%
Storm Sewer System 40,000 40,000 10,000 25%
Pond Sand Filter 20,000 20,000 5,000 25%
Boulevard and Drainage Swale Sod/Seed 1,500 1,500 1,500 100%
Retaining Walls 5,000 0 0 0%
Pond Construction 28,000 14,000 14,000 50%
Street & Traffic Control Signs 600 0 0 0%
Sidewalk Improvements 9,500 9,500 5,700 60%
Landscaping & Reforestation 23,500 23,500 23,500 100%
Street Lighting 8,000 8,000 0 0%
Erosion Control 5,900 4,425 4,425 75%
Site Grading & Drainage Improvements 41,000 18,450 12,300 30%
Setting Iron Monuments 2,000 2,000 2,000 100%
Tree Preservation 16,220 16,220 0 0%
Subtotal $444,220 $287,095 $167,175 38%
Design, Admin, Insp, As-Builts (8%) $35,538 $22,968 $13,374 8%
Total $479,758 $310,063 $180,549 38%
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of
October 9, 2018, subject to the two-year guarantee by the Developer per Letter of Credit No. 1081.
APPROVED by the City Council on this 9th day of October, 2018.