HomeMy WebLinkAboutCity Council Resolution 2006-455CITY OF PLYMOUTH
RESOLUTION NO. 2006-455
FINAL RELEASED FINANCIAL GUARANTEE
PLUM TREE EAST 3RD ADDITION (98129)
WHEREAS, in accordance with the development contract dated July 13, 1999, Lundgren Bros.
Constriction, Inc., developer of Plum Tree East -1 Addition (98129), 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 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 be reduced as follows:
The required financial guarantee for the above items may be administratively reduced as detailed above
from $1,120 to $0 (zero) to reflect the completed work. Letter of Credit No. FGAC-99295 may be
released accordingly.
Adopted by the City Council on November 14, 2006.
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Constriction
$ 81,000
-0-
-0-
Sanitary Sewer
40,000
-0-
-0-
Watermain
28,000
-0-
-0-
Storm Sewer
65,000
-0-
-0-
Boulevard and Drainage Swale Sod
4,200
-0-
-0-
Mitigation Pond Constriction
2,000
1,000
-0-
N[_]RP Pond Constriction
10,000
-0-
-0-
Street Signs (1 x 200)
200
-0-
-0-
Site Grading and Drainage Improvements
87,000
-0-
-0-
Park and Trail Improvements
14,000
-0-
-0-
Setting Iron Monuments
1,260
-0-
-0-
Design, Administration, Inspection, As-Builts
39,919
120
-0-
TOTAL
$ 372,579
$ 1,120
$ -0-
The required financial guarantee for the above items may be administratively reduced as detailed above
from $1,120 to $0 (zero) to reflect the completed work. Letter of Credit No. FGAC-99295 may be
released accordingly.
Adopted by the City Council on November 14, 2006.