HomeMy WebLinkAboutCity Council Resolution 2006-405CITY OF PLYMOUTH
RESOLUTION NO. 2006-405
FINAL RELEASE OF FINANCIAL GUARANTEE
PLYMOUTH PONDS BUSINESS PARK ADDITION (95005)
WHEREAS, in accordance with the development contract dated June 20, 1995, Plymouth Ponds Limited
Liability Company, developer of Plymouth Ponds Business Park Addition (95005), 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 are reduced as follows:
That the required financial guarantee for the above items be reduced as detailed above from $9,250 to $0
(zero) to reflect the completed work. Letter of Credit No. 1674 may be reduced as detailed above and
released by the Finance Department.
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Constriction
$37,775
$-0-
$-0-
Co. Rd. 24 Right In/Right Out
21,000
-0-
-0-
Sanitary Sewer
51,717
-0-
-0-
Watermain
33,620
-0-
-0-
Storm Sewer
9,644
-0-
-0-
Boulevard and Drainage Swale Sod
900
-0-
-0-
Drainage Pond Constriction
7,975
-0-
-0-
Mitigation Pond Constriction
8,500
8,500
-0-
Sediment Pond Constriction
-0-
-0-
-0-
Street Signs (1 x 200)
200
-0-
-0-
Site Grading and Drainage Improvements
34,290
-0-
-0-
Park and Trail Improvements
-0-
-0-
-0-
Setting Iron Monuments
550
-0-
-0-
Design, Administration, Inspection, As-Builts
24,741
1,020
-0-
TOTAL
$230,912
$9,520
$-0-
That the required financial guarantee for the above items be reduced as detailed above from $9,250 to $0
(zero) to reflect the completed work. Letter of Credit No. 1674 may be reduced as detailed above and
released by the Finance Department.
RESOLUTION NO. 2006-405
PLYMOUTH PONDS BUSINESS PARK ADDITION (95005)
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
ITEM AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash: $1,000
Letter of Credit Nos. 1675: $45,500
Adopted by the City Council on October 10, 2006.
CURRENT
AMOUNT
$-0-
$-0-