HomeMy WebLinkAboutCity Council Resolution 1992-267CITY OF PLYMOUTH
RESOLUTION NO. 92- 267
REDUCING DEVELOPMENT BOND
BASS CREEK BUSINESS PARK ADDITION (89061)
WHEREAS, in accordance with the development contract revised and dated June 12, 1990,
Opus Corporation and Schneider (USA), Inc., developer of Bass Creek Business Park
Addition (89061) has agreed to install certain improvements 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 request-' 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 that
the bonding requirements are reduced as follows:
ITEM ORT.TN L AMOUNT
City Proj. Original
Street Construction
$ 647,520 *
$ -0-
$ -0-
$ -0-
Right Turn Lane County
Road 10 10,000
-0-
-0-
Sanitary Sever
101,722
-0-
-0-
-0-
Watermain
195,088
-0-
-0-
-0-
Storm Sewer
396,281
-0-
-0-
-0-
Compensatory Wetland
-0-
-0-
60,700
60,700
Water Quality Ponds
322,281
-0-
Street Signs (2 : 150)
-0-
300
-0-
300
Sidewalks
47,545 **
-0-
-0-
-0-
Site Grading i Drainage
Improvements -0-
-0-
217,000
217,000
Design, Administration,
Inspection, As-Builts
36
33.324
33.360
ORIGINAL TOTAL
$ 336
$311,024
$311,360
TOTAL PROJ. N0. 008 $1,720,437
* Includes final wear course on Nathan Lane from County Road 10 to 860 feet north of
County Road 10 at an estimated cost of $10,000.
** The trails not within street right-of-way are private in accordar.:e with Item No.
14, Resolution No. 89-701.
BASS CREEK BUSINESS PARK ADDITION (89061)
Resolution No. 92- 267
Page Two
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New
City Proj.
No. 008
Street Construction $
647,520
Right Turn Lane County Road 10
10,000
Sanitary Sewer
101,722
Watermain
195,088
Storm Sewer
396,281
Compensatory Wetland
-0-
Water Quality Ponds
322,281
Street Signs (2 x 150)
-0-
Sidewalks
47,545 **
Site Grading 5 Drainage Improvements
-0-
Design, Administration.
Inspection, As-Builts
ORIGINAL TOTAL
TOTAL PROJ. NO. 008 $1,720,437
NEW AMOUNT
New
Public
Private
Total
$ -0-
$ -0-
$ -0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
300
-0-
300
-0-
-0-
-0-
-0-
217,000
217,000
$ 336 $243,040 $243,376
* Includes final wear course on Nathan Lane from County Road 10 to 860 feet north of
County Road 10 at an estimated cost of $10,000.
** The trails not within street right-of-way are private in accordance with Item No.
14, Resolution No. 89-701.
That letter of credit required for the above items (excluding Project No. 008) is
hereby reduced as detailed above from $311,360 to $243,376.
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:
Iii ORIGINAL AMOUNT NEW AMOUNT
Maintenance of Erosion and
Sediment Control Plan,
Street Sweeping and Storm
Sewer Cleaning Cash: $ 1,000 $ 1,000
Letter of Credit: $ 72,200 $ 60,000
FURTHER BE IT RESOLVED that the required financial guarantees for the above items
remain at $1,000 cash with the required Letter of Credit No. 73818 remaining at
$60,000.
Adopted by the City Council on May 4, 1992
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