HomeMy WebLinkAboutCity Council Resolution 2007-340CITY OF PLYMOUTH
RESOLUTION NO. 2007-340
FINAL RELEASE OF FINANCIAL GUARANTEE
TIMBER CREEK CROSSING 2ND ADDITION (2004101)
WHEREAS, in accordance with the development contract dated October 13, 2004, US
Home Corporation, developer of Timber Creek Crossing 2" a Addition (2004101), has
agreed to install certain improvements for said development; and
WHEREAS, the developer has completed street and utility work as noted below; and
WHEREAS, the developer has requested final release of 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
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale
Sod
Rain Garden
Street and Traffic Control Signs
Sidewalk Improvements
Trail Improvements
Landscaping
Buffer Posts
Setting Iron Monuments
Street Lights
Design, Administration,
Inspection, As-Builts
TOTAL
ORIGINAL
CURRENT
NEW
AMOUNT
AMOUNT
AMOUNT
$165,725
$ -0-
$ -0-
87,404
-0-
-0-
134,805
-0-
-0-
74,676
-0-
-0-
5,220
5,220
-0-
1,500
1,500
-0-
3,500
3,500
-0-
16,080
16,080
-0-
13,240
13,240
-0-
80,000
80,000
-0-
1,200
1,200
-0-
4,600
4,600
-0-
3,000
3,000
-0-
70,9214
15,400
-0-
$661,864
$ 143,740
-0-
C \Document, and Settnig, ,eng(kdd Local Setting, TempCCR 200-340_166 52 CCR 200--340 doe
Resolution No. 2007-340
Timber Creek Crossing 2"a (2004101)
Page 2 of 2
That the required financial guarantee for the above items be reduced as detailed above
from $143,740 $0 (zero) to reflect the completed work. Letter of Credit No. FGAC-
04328 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:
ORIGINAL NEW
ITEM AMOUNT AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning (see Grading Permit for Financial
Guarantee Requirements)
Cash: $ 1,000 $ -0-
Financial Guarantee: LC 04326 $ 5,100 $ -0-
Adopted by the City Council on August 14, 2007.
C \Document, and Settnig, ,eng(kdd Local Setting, TempCCR 200-340_166 52 CCR 200--340 doe