Loading...
HomeMy WebLinkAboutCity Council Resolution 2020-013 C ITY OF P LYMOUTH R ESOLUTION N O. 2020-013 R ESOLUTION A CCEPTING U TILITIES FOR C ONTINUAL M AINTENANCE FOR C REEKSIDE H ILLS 4 TH A DDITION (2015081) WHEREAS, in accordance with the development contract dated April 9, 2019, Creekside Hills Development, Inc., developer of Creekside Hills 4th Addition (2018054), 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. 1213 for the items be reduced from $454,874 to $378,950: Original Current New % of Original Item Amount Amount Amount Amount Street Construction 310,200 186,120 186,120 60% Sanitary Sewer System 131,000 65,500 32,750 25% Watermain System 109,000 54,500 27,250 25% Storm Sewer System 41,200 20,600 10,300 25% Boulevard and Drainage Swale Sod/Seed 6,300 6,300 6,300 100% Street & Traffic Control Signs 1,000 0 0 0% Sidewalk Improvements 40,100 24,060 24,060 60% Street Lighting 2,500 0 0 0% Erosion Control (at 75%) 15,200 15,200 15,200 100% Site Drainage & Grading Improvements (at 50%) 160,000 40,000 40,000 25% Setting Iron Monuments 8,900 8,900 8,900 100% Subtotal $825,400 $421,180 $350,880 43% Design, Admin, Inspection, As-Builts (8%) $66,032 $33,694 $28,070 Total $891,432 $454,874 $378,950 43% 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. 1213. APPROVED by the City Council on this 14th day of January, 2020.