HomeMy WebLinkAboutCity Council Resolution 2007-047CITY OF PLYMOUTH
RESOLUTION NO. 2007-047
FINAL RELEASE OF FINANCIAL GUARANTEE
HOLLY CREEK 2ND ADDITION (93096)
WHEREAS, in accordance with the development contract dated September 20, 1993,
Scherber Partnership Properties, developer of Holly Creek 2nd Addition (93096), 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:
ITEM ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
Street Constriction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Mitigation Pond Constriction
Street Signs (2 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-
Bullts
$37,455
$-0-
$-0-
53,220
-0-
-0-
52,519
-0-
-0-
28,327
-0-
-0-
6,000
-0-
-0-
39,600
-0-
-0-
400
-0-
-0-
132,610
-0-
-0-
13,260
-0-
-0-
2,500
-0-
-0-
43,907
11,890
-0-
TOTAL $409,798 $ 11,890 $ -0-
That the required financial guarantee for the above items be reduced as detailed above
from $11,890 to $0 (zero) to reflect the completed work. Letter of Credit No. 624460
may be reduced accordingly and will be released by the Finance Department.
Resolution No. 2007-047
Holly Creek 2nd Addition (93096)
Page Two
FURTHER BE IT RESOLVED that the financial guarantee requirements for the
following items per Section 8.1 of the approved development contract remain as follows:
ITEM
Maintenance of Erosion and
Sediment
Control Plan, Street Sweeping,
and Storm Sewer Cleaning
Cash:
Letter of Credit No. 624478:
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$1,000 $-0- $ -0-
$13,744 $13,744 $ -0-
Adopted by the City Council on January 23, 2007.