HomeMy WebLinkAboutCity Council Resolution 2007-109CITY OF PLYMOUTH
RESOLUTION NO. 2007-109
REDUCING REQUIRED FINANCIAL GUARANTEE
PLYMOUTH POINTE ADDITION (92034)
WHEREAS, in accordance with the development contract dated September 29, 1992,
Good Value Homes, Inc., developer of Plymouth Pointe Addition (92034), 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
Street Constriction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage
Swale Sod
Mitigation Pond Constriction
Street Signs (4 x 150)
Site Grading and Drainage
Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration,
Inspection, As-Builts
ORIGINAL
CURRENT
NEW
AMOUNT
AMOUNT
AMOUNT
$106,800
$ -0-
$ -0-
75,000
-0-
-0-
29,300
-0-
-0-
72,500
-0-
-0-
9,200
-0-
-0-
-0-
-0-
-0-
600
-0-
-0-
128,000
-0-
-0-
-0-
-0-
-0-
2,000
1,000
-0-
50,568
120
-0-
TOTAL $473,968 $1,120 $-0-
That the financial guarantee required for the above items be reduced as detailed above
from $1,120 to $0 (zero) to reflect the completed work. Letter of Credit No. 10065 may
be released accordingly.
Resolution No. 2007-109
Plymouth Pointe Addition (92034)
Page 2 of 2
FURTHER BE IT RESOLVED that the financial guarantee for the following items per
Section 8.1 of the approved development contract be reduced as follows:
ITEM ORIGINAL CURRENT
AMOUNT AMOUNT
Maintenance of Erosion and
Sediment
Control Plan Street Sweeping and
Storm
Sewer Cleaning (Per Grading Permit
No. 49080)
Cash: $ 1,000 $ -0-
Letter of Credit: $19,750 $-0-
Adopted by the City Council on March 13, 2007.