HomeMy WebLinkAboutCity Council Resolution 2020-010
C ITY OF P LYMOUTH
R ESOLUTION N O. 2020-010
R ESOLUTION A CCEPTING S TREETS FOR C ONTINUAL M AINTENANCE FOR
T HE P INES AT E LM C REEK (2015059)
WHEREAS, in accordance with the development contract dated September 22, 2015, OP4 The
Pines, LLC, developer of The Pines at Elm Creek (2015059), 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. DC112684US25315 for the items be reduced from $332,906
to $136,940:
Original Current New % of Original
Item Amount Amount Amount Amount
Street Construction 443,823 266,294 110,956 25%
Sanitary Sewer 392,878 0 0 0%
Watermain 275,593 0 0 0%
Storm Sewer System 141,974 0 0 0%
Boulevard and Drainage Swale Sod/Seed 11,132 4,453 3,340 30%
Retaining Walls 20,000 0 0 0%
Pond Construction 20,000 10,000 5,000 25%
Filtration Basin 5,000 2,500 1,250 25%
Street & Traffic Control Signs 1,550 0 0 0%
Sidewalk 25,000 15,000 6,250 25%
Landscaping 10,000 10,000 0 0%
Street Lighting 15,000 0 0 0%
Setting Iron Monuments 13,900 0 0 0%
Removal of Temp Turn-around 5,000 0 0 0%
Tree Preservation and Reforestation 29,781 0 0 0%
Subtotal $1,410,631 $308,247 $126,796 9%
Design, Admin, Inspec, As-Builts (8%) $112,850 $24,660 $10,144
Total $1,523,481 $332,906 $136,940 9%
BE IT FURTHER RESOLVED that the streets are accepted for continuous maintenance as of
January 14, 2020, subject to the one-year guarantee by the Developer per Letter of Credit No.
DC112684US25315.
APPROVED by the City Council on this 14th day of January, 2020.