HomeMy WebLinkAboutCity Council Resolution 2020-012
C ITY OF P LYMOUTH
R ESOLUTION N O. 2020-012
R ESOLUTION A CCEPTING U TILITIES AND S TREETS FOR
C ONTINUAL M AINTENANCE FOR P LYMOUTH R ESERVE (2017105)
WHEREAS, in accordance with the development contract dated August 10, 2018, SVK
Development, LLC, developer of Plymouth Reserve (2017105), 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. A054 for the items be reduced from $355,919 to $210,789:
Original Current New % of Original
Item
Amount Amount Amount Amount
Street Construction $170,100 102,060 42,525 25%
Sanitary Sewer System 113,600 56,800 28,400 25%
Watermain System 73,500 36,750 18,375 25%
Storm Sewer System 65,800 32,900 16,450 25%
Boulevard & Drainage Swale Sod/Seed 3,900 975 975 25%
Retaining Walls 10,300 2,575 2,575 25%
Pond Construction 10,000 2,500 2,500 25%
Filtration Basin 18,700 4,675 4,675 25%
Street & Traffic Control Signs 1,000 0 0 0%
Buffer Posts & Signs 500 500 500 100%
Sidewalk Improvements 24,700 14,820 6,175 25%
Trail Improvements 8,500 5,100 2,125 25%
Landscaping 20,300 20,300 20,300 100%
Street Lighting 6,800 0 0 0%
Erosion Control 13,500 3,375 3,375 25%
Site Drainage & Grading Improvements 83,700 20,925 20,925 25%
Setting Iron Monuments 4,800 0 0 0%
Removal of Temp Turn-around 1,500 0 0 0%
Tree Preservation / Protection 32,400 16,200 16,200 50%
Front Yard Trees 9,100 9,100 9,100 100%
Subtotal 672,700 329,555 195,175 29%
Design, Admin, Inspec, As-Builts (8%) 53,816 26,364 15,614
Total 726,516 355,919 210,789 29%
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of
January 14, 2020, subject to the two-year guarantee by the Developer per Letter of Credit No. A054.
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. A054.
APPROVED by the City Council on this 14th day of January, 2020.