HomeMy WebLinkAboutCity Council Resolution 1991-552CITY OF PLYMOUTH
RESOLUTION NO. 91-552
REDUCING DEVELOPMENT BOND
HERITAGE RIDGE PLAT TWO ADDITION (89036)
WHEREAS, in accordance with the development contract dated October 12, 1989, Host
Development by International Development, Inc. and Host Development by Al Stobbe
Constructi.n, developer of Heritage Ridge Plat Two (89036), has agreed to install
certain improv;ients for said development; and
WHEREAS. the developer has completed a portion of the street, utility and site grading
as noted below; and
WHEREAS, the developer has requested a reduction of the development bond to reflect the
completed work;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA; that the bonding requirements are reduced as follows:
Street Construction $
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond of Ditch Construction (included with grading)
Street Signs
Site Grading and Drainage Improvements
Park and Trail Improvements
Design. Administration, Inspection, As-Builts
TOTAL
95.400
$ 20,000
72,500
14,500
60.000
12,000
56,600
11,320
7,600
3,800
-0-
-0-
600
-0-
80,000
4,000
-0-
44.724
-0-
7.874
$ 417,424 $ 73,494
That the letter of credit required for the above items be reduced as detailed above
from $82,902 to $73.494 to reflect the completed work.
FURTHER BE IT RESOLVED that the bonding requirements for the following items per
Section 8.1 of the approved development contract be reduced as follows:
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
Adopted by the City Council on September 16, 1991
$ 11000 $ 1,000
$31,900 $15,950