HomeMy WebLinkAboutCity Council Resolution 2007-361CITY OF PLYMOUTH
RESOLUTION NO. 2007-361
FINAL RELEASE OF FINANCIAL GUARANTEE
THE FIELDS OF NANTERRE (2001148)
WHEREAS, in accordance with the development contract dated April 17, 2002, The
Ryland Group, Inc., developer of The Fields of Nanterre (2001148), 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:
ORIGINAL CURRENT NEW
ITEM AMOUNT AMOUNT AMOUNT
Street Constriction
$ 180,877
$ -0-
$ -0-
Sanitary Sewer
205,188
-0-
-0-
Watermain
377,878
-0-
-0-
Storm Sewer
132,597
-0-
-0-
Boulevard and Drainage Swale Sod
6,800
-0-
-0-
Pond Constriction
-0-
-0-
-0-
Mitigation Pond Constriction
-0-
-0-
-0-
NL RP Pond Constriction
37,382
15,000
-0-
Street Signs (4 x 200)
800
-0-
-0-
Park and Trail Improvements
26,320
-0-
-0-
Site Grading and Drainage Improvements
277,470
20,000
-0-
Setting Iron Monuments
4,500
-0-
-0-
Design, Administration, Inspection, As-
149,977
-0-
-0-
Bullts
TOTAL
$ 1,399,789
$ 35,000
$ -0-
C \Document, and Settnig, ,eng(kdd Local Setting, TempCCR ?00-361_116-3 CCR 200--361 doe
RESOLUTION NO. 2007-361
THE FIELDS OF NANTERRE (2001148)
Page Two
That the required financial guarantee for the above items be reduced as detailed above
from $35,000 to $0 (zero) to reflect the completed work. Letter of Credit No. 3048906
may be released.
FURTHER BE IT RESOLVED that the financial guarantee requirements for the
following items per Section 8.1 of the approved development contract remain as follows:
ORIGINAL CURRENT
ITEM AMOUNT AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash: $ 1,000 $ -0-
Letter of Credit No. 3048251: $ 39,950 $ -0-
Adopted by the City Council on August 28, 2007.
C \Document, and Settnig, ,eng(kdd Local Setting, TempCCR ?00-361_116-3 CCR 200--361 doe