HomeMy WebLinkAboutCity Council Resolution 2007-362CITY OF PLYMOUTH
RESOLUTION NO. 2007-362
FINAL RELEASE OF FINANCIAL GUARANTEE
THE FIELDS OF NANTERRE 2ND ADDITION (2004043)
WHEREAS, in accordance with the development contract dated June 23, 2004, The
Ryland Group, Inc., developer of The Fields of Nanterre 2" a Addition (2004043), 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
Sanitary Sewer
Watermain
Storm Sewer
Sod
Irrigation
Street and Traffic Control Signs
Sidewalk Improvements
Trail Improvements
Landscaping
Site Grading and Drainage Improvements
Setting Iron Monuments
Street Lights
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL
CURRENT
NEW
AMOUNT
AMOUNT
AMOUNT
$ 206,297
$ -0-
$ -0-
109,611
-0-
-0-
101,283
-0-
-0-
26,844
-0-
-0-
30,710
-0-
-0-
29,079
-0-
-0-
1,400
-0-
-0-
12,000
-0-
-0-
10,000
-0-
-0-
87,779
13,000
-0-
-0-
-0-
-0-
5,300
-0-
-0-
13,500
-0-
-0-
76,056
-0-
-0-
$709,859
$ 13,000
$ -0-
C \Document, and Settnig, ,eng(kdd Local Setting, TempCCR 200-362_166-4 CCR 200-362. doe
RESOLUTION NO. 2007-362
THE FIELDS OF NANTERRE SECOND ADDITION (2004043)
Page Two
That the required financial guarantee for the above items be reduced as detailed above
from $13,000 to $0 (zero) to reflect the completed work. Letter of Credit No. 3080103
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 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 200-362_166-4 CCR 200-362. doe