HomeMy WebLinkAboutCity Council Resolution 2007-141CITY OF PLYMOUTH
RESOLUTION NO. 2007-141
FINAL RELEASE OF FINANCIAL GUARANTEE
THE COURTS OF NANTERRE (96023)
WHEREAS, in accordance with the development contract dated October 17, 1997, Weston Corporation,
developer of The Courts of Nanterre (96023), 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:
That the required financial guarantee for the above items be reduced as detailed above from $49,068 to $0
(zero) to reflect the completed work. Letter of Credit No. 1663 may be released by the Finance Department.
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Constriction
$ 65,284
$ 13,057
$ -0-
Sanitary Sewer
66,437
13,287
-0-
Watermain
88,660
-0-
-0-
Storm Sewer
51,037
10,207
-0-
Boulevard and Drainage Swale Sod
2,400
2,400
-0-
Mitigation Pond Constriction
-0-
-0-
-0-
N [_]RP Pond Constriction
-0-
-0-
-0-
Street Signs (2 x 200)
400
-0-
-0-
Site Grading and Drainage Improvements
1,760
1,760
-0-
Park and Trail Improvements
-0-
-0-
-0-
Setting Iron Monuments
3,100
3,100
-0-
Design, Administration, Inspection, As-Builts
33,201
5,257
-0-
TOTAL
$ 309,879
$ 49,068
$ -0-
That the required financial guarantee for the above items be reduced as detailed above from $49,068 to $0
(zero) to reflect the completed work. Letter of Credit No. 1663 may be released by the Finance Department.
Resolution No. 2007-141
The Courts of Nanterre (96023)
Page 2 of 2
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 (included in Nanterre
Add. (94093))
Cash:
Financial Guarantee:
Adopted by the City Council on March 27, 2007.
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$ -0- $ -0- $-0-
$-0-
-0-
$-0- $ -0- $ -0-