HomeMy WebLinkAboutCity Council Resolution 2018-342
C ITY OF P LYMOUTH
R ESOLUTION N O. 2018-342
R ESOLUTION A CCEPTING F INAL R ELEASE OF F INANCIAL G UARANTEE
H AMPTON H ILLS S OUTH P LATEAU A DDITION (2011097F)
WHEREAS, in accordance with the development contract dated May 14, 2012, Hampton Hills
Investment, LLC, developer of Hampton Hills South Plateau Addition (2011097F), 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. IS0012199 for the items be reduced from $8,990 to $0 and
can be released:
Original Current New
Item Amount Amount Amount
Street Construction $491,955 $0 $0
Sanitary Sewer 234,429 0 0
Watermain 250,621 0 0
Storm Sewer System 167,976 0 0
Blvd. and Drainage Swale Sod, Silt Fence 2,500 625 0
Infiltration Basin 29,460 7,365 0
Street & Traffic Control Signs 3,400 0 0
Sidewalk Improvements 47,200 0 0
Landscaping (Retaining Walls) 2,640 0 0
Street Lighting 50,000 0 0
Erosion Control and Seeding 11,950 0 0
Site Grading 5,975 0 0
Setting Iron Monuments 15,200 0 0
Tree Pres. And Reforestation 88,922 0 0
Design, Administration, Inspection, As-Builts (12%) 168,267 1,000 0
Total $1,570,495 $8,990 $0
APPROVED by the City Council on this 23rd day of October, 2018.