HomeMy WebLinkAboutCity Council Resolution 2007-278CITY OF PLYMOUTH
RESOLUTION NO. 2007-278
FINAL RELEASE OF FINANCIAL GUARANTEES
KIL,LIANS GATE ADDITION (2002027)
WHEREAS, in accordance with the development contract dated July 10, 2002, Killians Gate, LLC,
developer of Killians Gate Addition (2002027), 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:
CDocuments and Settuigs ,eng(kdd Local Settuigs\Temp CCR 200--2-8 164-0 CCR 200--2-8 doe
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Constriction
$ 44,207
$ -0-
$ -0-
Sanitary Sewer
40,986
-0-
-0-
Watermain
20,398
-0-
-0-
Storm Sewer
32,573
-0-
-0-
Boulevard and Drainage Swale Sod
1,900
1,000
-0-
Pond Constriction
-0-
-0-
-0-
Mitigation Pond Constriction
-0-
-0-
-0-
N[_]RP Pond Constriction
30,000
-0-
-0-
Street Signs (1 x 200)
200
-0-
-0-
Park and Trail Improvements
-0-
-0-
-0-
Site Grading and Drainage Improvements
30,498
2,500
-0-
Setting Iron Monuments
1,450
1,450
-0-
Design, Administration, Inspection, As-Builts
24,265
5,914
-0-
TOTAL
$ 226,477
$ 10,864
$ -0-
CDocuments and Settuigs ,eng(kdd Local Settuigs\Temp CCR 200--2-8 164-0 CCR 200--2-8 doe
Resolution No. 2007-278
Killians Gate Addition (2002027)
Page Two
That the required financial guarantee for the above items be reduced as detailed above from $10,864
to $0 (zero) to reflect the completed work. Letter of Credit No. 62 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 (see Grading Permit for
Financial Guarantee Requirements)
Cash:
Additional Cash Financial Guarantee:
Adopted by the City Council on June 26, 2007.
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$ 1,000 $1,000 $ -0-
$ 3,500 $3,500 $ -0-
CDocuments and Settuigs ,eng(kdd Local Settuigs\Temp CCR 200--2-8 164-0 CCR 200--2-8 doe