HomeMy WebLinkAboutCity Council Resolution 2007-185CITY OF PLYMOUTH
RESOLUTION NO. 2007-185
FINAL RELEASE OF FINANCIAL GUARANTEE
SANDPIPER PONDS ADDITION (97089)
WHEREAS, in accordance with the development contract dated June 23, 1998, Brook
Park Realty L.L.P., developer of Sandpiper Ponds Addition (97089), 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:
ORIGINAL CURRENT NEW
ITEM AMOUNT AMOUNT AMOUNT
Street Constriction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Mitigation Pond Constriction
N [_]RP Pond Constriction
Street Signs (1 X 200)
Site Grading and Drainage
Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection,
As-Bullts
TOTAL
$ 51,500
$ -0-
-0-
$-0-
3
30,700
-0-
-0-
21,900
-0-
-0-
31,800
-0-
-0-
9,600
9,600
-0-
-0-
-0-
-0-
10,200
-0-
-0-
200
-0-
-0-
123,900
10,000
-0-
-0-
-0-
-0-
-0-
-0-
-0-
33,576
2152
-0-
$313,376
$ 21,952
$ -0-
(' _ll _l5 CCR 21 0-48?.doc
Resolution No. 2007-185
Sandpiper Ponds Addition (97089)
Page Two
That the required financial guarantee for the above items be reduced as detailed above
from $21,952 to $0 (zero) to reflect the completed work. Letter of Credit No.
NZS452309 may be released by the Finance Department.
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
Maintenance of Erosion and
Sediment
Control Plan, Street Sweeping,
and Storm
Sewer Cleaning
Cash:
Letter of Credit No. NZS452308:
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$ 1,000 $ 1,000 $ -0-
$ 13,610 $ 5,000 $ -0-
FURTHER BE IT RESOLVED that the financial guarantee for erosion control be
reduced from $1,000 cash to $0 (zero) and Letter of Credit No. NZS452308 be reduced
from $5,000 to $0 (zero).
Adopted by the City Council on April 24, 2007.
(' _ll _l5 CCR 21 0-48?.doc