HomeMy WebLinkAboutCity Council Resolution 2007-314CITY OF PLYMOUTH
RESOLUTION NO. 2007-314
FINAL RELEASE OF FINANCIAL GUARANTEE
NANTERRE ADDITION (94093)
WHEREAS, in accordance with the development contract dated October 13, 1995,
Weston Corporation, developer of Nanterre Addition (94093), 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
be reduced as follows:
ITEM
Street Constriction (excluding State
Aid Proj.)
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Mitigation Pond Constriction
N [_]RP Pond Constriction
Street Signs (6 x 200)
Site Grading and Drainage Improvements
(excluding State Aid Proj.)
Park and Trail Improvements
(excluding State Aid Proj.)
Setting Iron Monuments
Design, Administration, Inspection,
Bullts
ORIGINAL
CURRENT
NEW
AMOUNT
AMOUNT
AMOUNT
$132,703
$ -0-
$ -0-
200,629
-0-
-0-
140,876
-0-
-0-
76,230
-0-
-0-
9,000
-0-
-0-
-0-
-0-
-0-
20,000
5,000
-0-
1,200
-0-
-0-
384,250
15,370
-0-
10,179
-0-
-0-
3,600
-0-
-0-
As- 117,440
3,764
-0-
Wetland Mitigation and Performance
Monitoring 13,400 11,000 -0-
TOTAL $1,109,507 $35,134 $-0-
Resolution No. 2007-314
Page 2 of 2
That the required financial guarantee for the above items be reduced as detailed above
from $35,134 to $0 (zero) to reflect the completed work. Letter of Credit No. 1785 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 released as
follows:
ITEM
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash
Letter of Credit No. 1731
Adopted by the City Council on July 24, 2007.
ORIGINAL CURRENT
AMOUNT AMOUNT
$1,000 $-0-
$95,000 $22,500
NEW
AMOUNT
$-0-
$-0-