HomeMy WebLinkAboutCity Council Resolution 2007-188CITY OF PLYMOUTH
RESOLUTION NO. 2007-188
FINAL RELEASE OF FINANCIAL GUARANTEE
PLUM TREE EAST 8TH ADDITION (2002032)
WHEREAS, in accordance with the development contract dated May 28, 2002, Lundgren
Brothers Constriction, Inc., developer of Plum Tree East 8t1' Addition (2002032), 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
Pond Constriction
Mitigation Pond Constriction
N [-]RP Pond Constriction
Street Signs (1 x 200)
Park Trail Improvements
Site Grading and Drainage
Improvements
Setting Iron Monuments
Design, Administration, Inspection,
As-Bullts
TOTAL
ORIGINAL
CURRENT
NEW
AMOUNT
AMOUNT
AMOUNT
$74,166
-0-
-0-
34,774
-0-
-0-
31,590
-0-
-0-
5,400
-0-
-0-
5,400
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
200
-0-
-0-
17,087
-0-
-0-
-0-
-0-
-0-
3,240
3,240
-0-
24,147
29
-0-
$225,370
$ 3,269
$ -0-
C \Document, and Settnig, ,eng(kdd Local Setting, TempCCR 200--188_11218 CCR 200--188 doe
Resolution No. 2007-188
Plum Tree East Stn Addition (2002032)
Page Two
That the required financial guarantee for the above items be reduced as detailed above
from $3,269 to $0 (zero) to reflect the completed work. Letter of Credit No. FGAC-
03099 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 remain as follows:
ORIGINAL CURRENT
ITEM AMOUNT AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning (Financial guarantee requirements are
included in Plum Tree 4th Addition (20045))
Cash: $ -0- $ -0-
Financial Guarantee: $ -0- $ -0-
Adopted by the City Council on April 24, 2007.
C \Document, and Settnig, ,eng(kdd Local Setting, TempCCR 200--188_11218 CCR 200--188 doe