HomeMy WebLinkAboutCity Council Resolution 2005-308CITY OF PLYMOUTH
RESOLUTION NO. 2005-308
FINAL RELEASE OF FINANCIAL GUARANTEE
PLYMOUTH MARKETPLACE (20040)
WHEREAS, in accordance with the development contract dated August 23, 2000, North American
Properties, developer of Plymouth Marketplace (20040), petitioned the City to install certain
improvements for said development; and
WHEREAS, the developer has completed the trail and utility work as noted below; and
WHEREAS, the developer has requested final 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 $30,004
($20,003 x 150%) to $0 (zero) to reflect the completed work. The financial guarantee, Subdivision
Bond No. 2, may be released by the Finance Department.
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ -0-
$ -0-
Sanitary Sewer
-0-
-0-
Watermain
-0-
-0-
Storm Sewer
7,920
-0-
Boulevard and Drainage Swale Sod
-0-
-0-
Mitigation Pond Constriction
-0-
-0-
Site Grading and Drainage Improvements
-0-
-0-
Park and Trail Improvements
9,940
-0-
Setting Iron Monuments
-0-
-0-
Design, Administration, Inspection, As-Builts
2,143
-0-
TOTAL
$ 20,003
$ -0-
That the required financial guarantee for the above items be reduced as detailed above from $30,004
($20,003 x 150%) to $0 (zero) to reflect the completed work. The financial guarantee, Subdivision
Bond No. 2, may be released by the Finance Department.
RESOLUTION NO. 2005-308
PLYMOUTH MARKETPLACE (20040)
Page Two
FURTHER BE IT RESOLVED that the financial guarantee requirements, in this case cash, for the
following items per Section 8.1 of the approved development contract be released as follows:
ORIGINAL NEW
ITEM AMOUNT AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash: $ 30,000 $ -0-
Adopted by the City Council on August 9, 2005.