HomeMy WebLinkAboutCity Council Resolution 2007-307CITY OF PLYMOUTH
RESOLUTION NO. 2007-307
FINAL RELEASE OF FINANCIAL GUARANTEES
CASCADES (2002058)
WHEREAS, in accordance with the development contract dated November 6, 2002,
Lundgren Bros. Constriction, Inc., developer of Cascades (2002058), has installed
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
be released as follows:
ORIGINAL CURRENT NEW
ITEM AMOUNT AMOUNT AMOUNT
Street Constriction
$ 172,429
$ -0-
$ -0-
Sanitary Sewer
100,741
-0-
-0-
Watermain
132,335
-0-
-0-
Storm Sewer
119,068
-0-
-0-
Boulevard and Drainage Swale Sod
10,800
-0-
-0-
Rain Garden Constriction
6,000
6,000
-0-
NL RP Pond Constriction
6,200
2,000
-0-
Street Signs (5 x 200)
1,000
-0-
-0-
Park and Trail Improvements
35,775
-0-
-0-
Site Grading and Drainage Improvements
107,908
-0-
-0-
Setting Iron Monuments
4,180
-0-
-0-
Design, Administration, Inspection, As-Builts
83,872
960
-0-
TOTAL
$ 782,808
$ 8,960
$ -0-
C \Document, and Settnig, ,eng(kdd Local Setting, TempCCR 200-30-_16 32 CCR 200--30- doe
Resolution No. 2007-307
Cascades (2002058)
Page Two
That the required financial guarantee for the above items be reduced as detailed above
from $8,960 to $0 (zero) to reflect the completed work. Letter of Credit No. FGAC-
03062 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:
ITEM
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning (see Grading Permit for
Financial Guarantee Requirements)
Cash:
Financial Guarantee Letter of Credit No. FGAC-02202
Adopted by the City Council on July 10, 2007.
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$ 1,000 $ 1,000 $ -0-
$ 18,500 $ -0- $ -0-
C \Document, and Settnig, ,eng(kdd Local Setting, TempCCR 200-30-_16 32 CCR 200--30- doe