HomeMy WebLinkAboutCity Council Resolution 2020-011
C ITY OF P LYMOUTH
R ESOLUTION N O. 2020-011
R ESOLUTION A CCEPTING S TREETS FOR C ONTINUAL M AINTENANCE FOR
L ANEWOOD E STATES (2016040)
WHEREAS, in accordance with the development contract dated March 9, 2017, Lanewood
Estates, LLC, developer of Lanewood Estates (2016040), 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. 6328230 for the items be reduced from $149,913 to
$102,663:
Original Current New % of Original
Item Amount Amount Amount Amount
Street Construction 108,500 65,100 27,125 25%
Sanitary Sewer System 54,700 13,675 13,675 25%
Watermain System 38,700 9,675 9,675 25%
Storm Sewer System 30,750 7,688 7,688 25%
Boulevard and Drainage Swale Sod 3,575 3,575 3,575 100%
Retaining Walls 5,040 5,040 5,040 100%
Pond Construction 14,100 7,050 7,050 50%
Sidewalk Improvements 13,200 7,920 3,300 25%
Street Lighting 1,250 0 0 0%
Erosion Control 5,700 4,275 4,275 75%
Site Grading & Drainage Improvements 69,700 10,455 10,455 15%
Setting Iron Monuments 3,200 3,200 3,200 100%
Removal of Temporary Turn-around 1,000 0 0 0%
Tree Preservation & Reforestation 1,156 1,156 0 0%
Subtotal $350,571 $138,809 $95,058 27%
Design, Admin, Insp, As-Builts (8%) $28,045 $11,105 $7,605
Total $378,616 $149,913 $102,663 27%
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. 6328230.
APPROVED by the City Council on this 14th day of January, 2020.