HomeMy WebLinkAboutCity Council Resolution 2018-340
C ITY OF P LYMOUTH
R ESOLUTION N O. 2018-340
R ESOLUTION A CCEPTING F INAL R ELEASE OF F INANCIAL G UARANTEE
H AMPTON H ILLS 4 TH A DDITION (2012005)
WHEREAS, in accordance with the development contract dated April 10, 2012,
Hampton Hills Investment, LLC, developer of Hampton Hills 4th Addition (2012005), 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. IS0012195 for
the items be reduced from $30,000 to $0 and can be released:
Original Current New
Item Amount Amount Amount
Street Construction $354,487 $0 $0
Mill/Bit Overlay – Juneau Lane 180,852 0 0
Sanitary Sewer 497,470 0 0
Watermain 242,386 0 0
Storm Sewer System 187,739 0 0
Boulevard and Drainage Swale Sod/Seed 6,854 1,500 0
Infiltration Basin 11,340 0 0
Street & Traffic Control Signs 2,800 0 0
Sidewalk Improvements 39,550 0 0
Trail Improvements 43,700 0 0
Landscaping (Retaining Walls) 54,000 0 0
Street Lighting 40,000 0 0
Erosion Control and Seeding 5,000 1,500 0
Site Grading 4,700 700 0
Setting Iron Monuments 14,200 0 0
Tree Pres. And Reforestation 33,188 0 0
Wetland Mitigation/Restoration 61,000 16,300 0
Design, Administration, Inspection, As-Builts(8%) $213,571 10,000 0
Total $1,993,327 $30,000 $0
APPROVED by the City Council on this 23rd day of October, 2018.