HomeMy WebLinkAboutCity Council Resolution 2007-306CITY OF PLYMOUTH
RESOLUTION NO. 2007-306
FINAL RELEASE OF FINANCIAL GUARANTEE
JORDANS RIDGE (2002004)
WHEREAS, in accordance with the development contract dated May 29, 2002, Tom Car,
LLC, developer of Jordans Ridge (2002004), 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
N [_JRP Pond Constriction
Remove Existing Building
Rain Garden
Street Signs (0 x 200)
Park and Trail Improvements
Site Grading and Drainage
Improvements
Setting Iron Monuments
Design, Administration, Inspection,
As-Bullts
TOTAL
ORIGINAL
CURRENT
NEW
AMOUNT
AMOUNT
AMOUNT
$ 17,755
$ -0-
$ -0-
4,873
-0-
-0-
8,608
-0-
-0-
6,012
-0-
-0-
600
600
-0-
-0-
-0-
-0-
1,500
-0-
-0-
1,500
1,500
-0-
-0-
-0-
-0-
-0-
-0-
-0-
14,156
*2,831
-0-
-0-
-0-
-0-
6,600
592
-0-
$61,604
$ 5,523
$ -0-
Resolution No. 2007-306
Page 2 of 2
That the required financial guarantee for the above items be reduced as detailed above
from $5,523 to $0 (zero) to reflect the completed work. Bond No. SM 6814 may be
released accordingly.
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:
ORIGINAL NEW
ITEM AMOUNT AMOUNT
Maintenance of Erosion and
Sediment
Control Plan, Street Sweeping, and
Storm
Sewer Cleaning
Cash: $ 2,000 $ -0-
Adopted by the City Council on July 10, 2007.