HomeMy WebLinkAboutCity Council Resolution 2006-456CITY OF PLYMOUTH
RESOLUTION NO. 2006-456
FINAL RELEASED FINANCIAL GUARANTEE
FRENCH RIDGE PARK ADDITION (94159)
WHEREAS, in accordance with the development contract dated July 27, 1995, JANCO, Inc.,
developer of French Ridge Park Addition (94159), 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 are reduced as follows:
That the required financial guarantee for the above items be reduced as detailed above from $52,027 to
$0 (zero) to reflect the completed work. Letter of Credit No. 122195 may be released accordingly.
ORIGINAL
NEW
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Constriction Vinewood/Xenium Lane
$148,160
-0-
-0-
Street Constriction Other Streets
87,000
$17,400
-0-
Sanitary Sewer
152,000
-0-
-0-
Watermain
185,500
-0-
-0-
Storm Sewer
76,490
-0-
-0-
Boulevard and Drainage Swale Sod
13,600
4,000
-0-
Mitigation Pond Constriction
8,378
8,378
-0-
Sediment Pond Constriction
10,000
-0-
-0-
Street Signs (3 x 200)
600
-0-
-0-
Site Grading and Drainage Improvements
229,622
10,000
-0-
Park and Trail Improvements
8,734
-0-
-0-
Setting Iron Monuments
3,500
3,500
-0-
Design, Administration, Inspection, As-Builts
110,830
8,749
-0-
TOTAL
$1,034,414
$52,027
$ -0-
That the required financial guarantee for the above items be reduced as detailed above from $52,027 to
$0 (zero) to reflect the completed work. Letter of Credit No. 122195 may be released accordingly.
RESOLUTION NO. 2006-456
FRENCH RIDGE PARK ADDITION (94159)
Page Two
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
Cash:
Letter of Credit No. 92195:
Adopted by the City Council on November 14, 2006.
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$1,000 $ -0- $ -0-
$41,000 $30,750 $ -0-