HomeMy WebLinkAboutCity Council Resolution 2018-339
C ITY OF P LYMOUTH
R ESOLUTION N O. 2018-339
R ESOLUTION A CCEPTING F INAL R ELEASE OF F INANCIAL G UARANTEE
H AMPTON H ILLS 3 RD A DDITION (2011002F)
WHEREAS, in accordance with the development contract dated June 22, 2011,
Hampton Hills Investment, LLC, developer of Hampton Hills 3rd Addition (2011002F),
has agreed to install certain improvements for said development; and
WHEREAS, the developer has completed the street, utility and site grading as
noted below; and
WHEREAS, the developer has requested a release 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. IS0001003 for
the items be reduced from $33,600 to $0 and can be released:
ORIGINAL CURRENT NEW
ITEM AMOUNT AMOUNT AMOUNT
Street Construction $214,184 $0 $0
0 0
Sanitary Sewer System 109,414
Watermain System 74,853 0 0
Storm Sewer System 117,210 0 0
Boulevard and Drainage Swale Sod 8,935 0 0
Pond Construction 15,000 0 0
Infiltration Basin 10,410 0 0
Street and Traffic Control Signs 2,350 0 0
Sidewalk Improvements 28,360 0 0
Trail Improvements 18,560 0 0
Landscaping—Retaining Walls 100,890 0 0
Street Lighting 25,000 0 0
Erosion Control and Seeding 20,284 0 0
Site Grading 89,400 0 0
Setting Iron Monuments 14,300 0 0
Tree Preservation and Reforestation 16,094 0 0
Wetland Mitigation and Restoration 85,000 30,000 0
Design, Admin., Insp., As-Builts (12%) 114,029 3,600 0
TOTAL $ 1,064,273 $33,600 $0
APPROVED by the City Council on this 23rd day of October, 2018.