HomeMy WebLinkAboutCity Council Resolution 2006-273CITY OF PLYMOUTH
RESOLUTION NO. 2006-273
FINAL RELEASE OF FINANCIAL GUARANTEE
PLUM TREE 2ND ADDITION (96103)
WHEREAS, in accordance with the development contract dated August 22, 1996, Lundgren Brothers
Constriction, Inc., developer of Plum Tree 2" a Addition (96103), 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:
That the required financial guarantee for the above items be reduced as detailed above from $3,360 to
$0 (zero) to reflect the completed work. Letter of Credit No. 16241 may be reduced accordingly.
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Constriction
$ 60,720
$ -0-
$ -0-
Sanitary Sewer
20,100
-0-
-0-
Watermain
39,980
-0-
-0-
Storm Sewer
41,170
-0-
-0-
Boulevard and Drainage Swale Sod
3,800
-0-
-0-
Mitigation Pond Constriction
3,000
3,000
-0-
N[_]RP Pond Constriction
7,000
-0-
-0-
Street Signs (1 x 200)
200
-0-
-0-
Site Grading and Drainage Improvements
223,000
-0-
-0-
Park and Trail Improvements
8,350
-0-
-0-
Setting Iron Monuments
1,520
-0-
-0-
Design, Administration, Inspection, As-Builts
49,061
360
-0-
TOTAL
$ 475,901
$ 3,360
$ -0-
That the required financial guarantee for the above items be reduced as detailed above from $3,360 to
$0 (zero) to reflect the completed work. Letter of Credit No. 16241 may be reduced accordingly.
RESOLUTION NO. 2006-273
PLUM TREE 2ND ADDITION (96103)
Page 2
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items per
Section 8.1 of the approved development contract be reduced as follows:
ITEM
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning (includes Plum Tree -1 Add.)
Cash:
Letter of Credit No. 15797:
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$1,000 $1,000 $-0-
$35,000 $5,000 $-0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items be reduced from
$1,000 to $0 (zero) and $5,000 to $0 (zero). Letter of Credit No. 15797 may be reduced accordingly.
Adopted by the City Council on July 11, 2006.