HomeMy WebLinkAboutCity Council Resolution 2006-076CITY OF PLYMOUTH
RESOLUTION NO. 2006-076
ACCEPTING STREETS FOR CONTINUAL MAINTENANCE
GLACIER VISTA (2001026)
WHEREAS, in accordance with the development contract dated June 10, 2002,
Nedegaard Constriction, Inc., developer of Glacier Vista (2001026), 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
are reduced as follows:
That the required financial guarantee for the above items be reduced as detailed above
from $406,272 to $177,296 to reflect the completed work. Letter of Credit No. 598 may
be reduced accordingly.
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Constriction
$ 344,692
$150,000
$ -0-
Sanitary Sewer
2 13, 1431
42,700
42,700
Watermain
159,290
31,900
31,900
Storm Sewer
179,624
36,000
36,000
Boulevard and Drainage Swale Sod
13,000
6,500
3,500
N[_JRP Pond Constriction
10,000
5,000
5,000
Retaining Wall (Trail Constriction)
19,000
3,800
-0-
Street Signs (4 x 200)
800
200
200
Park and Trail Improvements
58,440
11,700
-0-
Site Grading and Drainage Improvements
591,195
70,943
35,000
Setting Iron Monuments
4,000
4,000
4,000
Design, Administration, Inspection, As-Builts
191,182
43,529
18,996
TOTAL
$ 1,784,366
$406,272
$ 177,296
That the required financial guarantee for the above items be reduced as detailed above
from $406,272 to $177,296 to reflect the completed work. Letter of Credit No. 598 may
be reduced accordingly.
Resolution No. 2006-076
Page 2 of 2
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 (see Grading Permit for Financial
Guarantee Requirements)
Cash:
Financial Guarantee Letter of Credit No. 584:
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 33,500 $ 33,500
FURTHER BE IT RESOLVED that the street constriction is accepted for continual
maintenance as of February 7, 2006 subject to the one-year guarantee by the Developer
per Maintenance Bond No. 104582610 issued by Travelers Casualty and Surety
Company of America.
Adopted by the City Council on February 7, 2006.