HomeMy WebLinkAboutCity Council Resolution 2007-048CITY OF PLYMOUTH
RESOLUTION NO. 2007-048
FINAL RELEASE OF FINANCIAL GUARANTEE
HOLLY CREEK 3RD ADDITION (94124)
WHEREAS, in accordance with the development contract dated November 7, 1994, Scherber
Partnership Properties, developer of Holly Creek 3rd Addition (94124), 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
NEW
AMOUNT
AMOUNT
Street Constriction
$70,778
$-0-
Sanitary Sewer
54,284
-0-
Watermain
48,490
-0-
Storm Sewer
39,935
-0-
Boulevard and Drainage Swale Sod
4,800
-0-
Mitigation Pond Constriction
-0-
-0-
Sediment Pond Constriction
-0-
-0-
Street Signs (2 x 200)
400
-0-
Site Grading and Drainage Improvements
64,690
-0-
Park and Trail Improvements
6,750
-0-
Setting Iron Monuments
2,400
-0-
Design, Administration, Inspection, As-Builts
35,103
-0-
TOTAL
$327,630
$-0-
That the required financial guarantee for the above items remain unchanged.
Resolution No. 2007-048
Holly Creek 3rd Addition (94124)
Page Two
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items
per Section 8.1 of the approved development contract be reduced as follows:
ITEM ORIGINAL NEW NEW
AMOUNT AMOUNT AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and
Storm Sewer Cleaning
Cash: $1,000 $-0- $ -0-
Letter of Credit No. 624494: $9,500 $9,500 $ -0-
Adopted by the City Council on January 23, 2007.