HomeMy WebLinkAboutCity Council Resolution 2006-075CITY OF PLYMOUTH
RESOLUTION NO. 2006-075
ACCEPTING UTILITIES FOR CONTINUAL MAINTENANCE
THE FIELDS OF NANTERRE THIRD ADDITON (2001148)
WHEREAS, in accordance with the development contract dated April 17, 2002, The
Ryland Group, Inc., developer of The Fields of Nanterre Third (2001148), has agreed to
install certain improvements for said development; and
WHEREAS, the developer has completed a portion of the street, utility and site grading
as noted below; and
WHEREAS, the developer has requested a reduction 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
remain as follows:
That the required financial guarantee for the above items be reduced as detailed above
from $262,686 to $90,552 to reflect the completed work. The Letter of Credit No.
3064404 may be reduced accordingly.
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 103,611
$ 20,800
Sanitary Sewer
16,530
-0-
Watermain
24,803
-0-
Remove Storm Sewer
500
-0-
Abandon Sewer and Water Service
3,000
3,800
Street Signs
1,700
1,700
Site Grading and Drainage Improvements
49,847
20,000
Retaining Walls
27,550
27,550
Street Lights
3,000
3,000
Setting Iron Monuments
4,000
4,000
Design, Administration, Inspection, As-Builts
28,145
9,702
TOTAL
$ 262,686
$ 90,552
That the required financial guarantee for the above items be reduced as detailed above
from $262,686 to $90,552 to reflect the completed work. The Letter of Credit No.
3064404 may be reduced accordingly.
RESOLUTION NO. 2006-075
THE FIELDS OF NANTERRE THIRD ADDITION (2001148)
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:
ITEM
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Covered by P Addition Cash
Letter of Credit No. 3048251
ORIGINAL CURRENT
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 39,950 $ 35,955
FURTHER BE IT RESOLVED that the utilities are accepted for continual maintenance
as of February 7, 2006 subject to the two-year guarantee by the Developer per
Maintenance Bond No. 190-013-988 issued by Liberty Bond Services.
Adopted by the City Council on February 7, 2006.