HomeMy WebLinkAboutCity Council Resolution 2007-483CITY OF PLYMOUTH
RESOLUTION NO. 2007-483
FINAL RELEASE OF FINANCIAL GUARANTEE
PLUM TREE EAST 7TH ADDITION (2001016)
WHEREAS, in accordance with the development contract dated April 11, 2001, Lundgren Bros.
Constriction, Inc., developer of Plum Tree East 7t1' Addition (2001016), 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 is reduced as follows:
ITEM
Street Constriction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Mitigation Pond Constriction
N [_]RP Pond Constriction
No Parking Signs (1 x $60)
Street Signs (1 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-
Bullts
TOTAL
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$ 83,000
$ 16,600
$ -0-
41,900
-0-
-0-
48,700
-0-
-0-
54,700
-0-
-0-
4,800
4,800
-0-
-0-
-0-
-0-
-0-
-0-
-0-
420
420
-0-
200
200
-0-
-0-
-0-
-0-
17,100
17,100
-0-
2,600
2,600
-0-
30,410
5,006
-0-
$283,830
$ 46,726
$-0-
That the required financial guarantee for the above items be reduced as detailed above from $46,726 $0
(zero) to reflect the completed work. Letter of Credit No. FGAC-01178 may be released accordingly.
Resolution No. 2007-483
Plum Tree East 7TH Addition (2001016)
Page Two
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 NEW
ITEM AMOUNT AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Cash: $ -0- $ -0-
Financial Guarantee: $ -0- $ -0-
Adopted by the City Council on November 27, 2007.