HomeMy WebLinkAboutCity Council Resolution 2007-339CITY OF PLYMOUTH
RESOLUTION NO. 2007-339
FINAL RELEASE OF FINANCIAL GUARANTEE
TIMBER CREEK CROSSING (2001114)
WHEREAS, in accordance with the development contract dated October 9, 2002, US
Homes Corporation, developer of Timber Creek Crossing (2001114), has agreed to install
certain improvements for said development; and
WHEREAS, the developer has completed street, utility and site grading as noted below;
and
WHEREAS, the developer has requested final release of the financial guarantees;
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
Mobilization
Schmidt Lake Road
Garland Lane/51st Avenue
Embankment Const. Schmidt Lake
Road
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Rain Garden
Mitigation Pond Constriction
N [-]RP Pond Constriction
Permanent Traffic Control
Street Signs (4 x 200)
Park and Trail Improvements
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$ 153,087
-0-
-0-
12,627
-0-
-0-
115,514
-0-
-0-
110,265
-0-
-0-
404,140
-0-
-0-
107,729
-0-
-0-
172,644
-0-
-0-
178,724
-0-
-0-
5,000
2,500
-0-
3,000
3,000
-0-
20,000
20,000
-0-
40,340
20,170
-0-
5,865
-0-
-0-
800
-0-
-0-
13,057
-0-
-0-
C \Document, and Settnig, ,eng(kdd Local Settuig, TeupCCR 200--339_16651 CCR 200--339 doe
Resolution No. 2007-339
Timber Creek Crossing (2001114)
Page Two
Site Grading and Drainage
Improvements
Setting Iron Monuments
Design, Administration, Inspection,
As-Bullts
TOTAL
140,000 70,000 -0-
7,500 7,500 -0-
178,835 8,780 -0-
$1,669,127 $ 81,950 $ -0-
That the required financial guarantee for the above items be reduced as detailed above
from $81,950 to $0 (zero) to reflect the completed work. Letter of Credit No. FGAC-
03083 may be released by the Finance Department 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 (see Grading Permit for Financial
Guarantee Requirements)
Cash:
Financial Guarantee: FGAC-04409
Adopted by the City Council on August 14, 2007.
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $-0-
$6,600
-0-
$6,600 $ -0-
C \Document, and Settnig, ,eng(kdd Local Settuig, TeupCCR 200--339_16651 CCR 200--339 doe