HomeMy WebLinkAboutCity Council Resolution 1992-388CITY OF PLYMOUTH
RESOLUTION NO. 92-388
REDUCING DEVELOPMENT BOND
CHURCHILL FARMS 2ND ADDITION (91079)
WHEREAS, in accordance with the development contract dated September 30, 1991, Lundgren
Brothers Construction, Inc., developer of Churchill Farms 2nd Addition (91079) 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 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 that
the bonding requirements are reduced as follows:
ORIGINAL AMOUNT
City Proj. Original
Street Construction
$ -0-
$98,000
$ -0-
$98,000
Sanitary Sewer
-0-
36,000
-0-
36,000
Watermain
-0-
47,000
-0-
47,000
Storm Sewer
23,785
32,000
-0-
32,000
Boulevard & Drainage
Swale Sod
-0-
-0-
6,000
6,000
Pond or Ditch Construction
-0-
-0-
-0-
-0-
Street Signs (2 z 150)
-0-
300
-0-
300
Park and Trail Improvements
-0-
-0-
-0-
-0-
Site Grading i Drainage Improvements
-0-
-0-
120,000
120,000
Design, Administration,
Inspection, As-Builts
25.596
15.120
40.716
ORIGINAL TOTAL
$238,896
$141,120
$380,016
TOTAL PROJ. NO. 016 $23,785
M
CHURCHILL FARMS 2ND ADDITION (91079)
Resolution No. 92- 388
Page Two
IT
NEW AMOUNT
City Proj.
New
No. 016
Public
Private
Total
Street Construction
$ -0-
$30,000
$ -0-
$30,000
Sanitary Sewer
-0-
7,200
-0-
7,200
Watermain
-0-
9,400
-0-
9,400
Storm Sewer
23,785
6,400
-0-
6,400
Boulevard & Drainage
Swale Sod
-0-
-0-
6,000
6,000
Pond or Ditch Construction
-0-
-0-
-0-
-0-
Street Signs (2 x 1500
-0-
300
-0-
300
Park and Trail Improvements
-0-
-0-
-0-
-0-
Site Grading & Drainage Improvements
-0-
-0-
24,000
24,000
Design, Administration,
Inspection, As-Builts
6.396
3.600
9,996
ORIGINAL TOTAL
$ 59,696
$ 33,600
$ 93,296
TOTAL PROJ. NO. 016* $23,785
That the letter of credit required for the above items (excluding Project No. 016) is
hereby reduced as detailed above from $236,208 to $ 93,296. Letter of Credit No.
911023-1A may be reduced accordingly.
* The required financial guarantee for this was provided with Churchill Farms Addition
(90009).
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:
[6) "71 �: W1'•
Maintenance of Erosion and
Sediment Control Plan,
Street Sweeping and Storm
Sewer Cleaning Cash: $ 1,000 $ 1,000
Letter of Credit: $38,200 $38,200
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. 911023-1B remaining at
$38,200.
Adopted by the City Council on July 6, 1992