HomeMy WebLinkAboutCity Council Resolution 1992-612RESOLUTION NO. 9z-612
REDUCING DEVELOPMENT BOND
BRIDLEWOOD FARM ADDITION (90028)
WHEREAS, in accordance with the development contract dated June 6, 1991 and Revised
September 4, 1991, U.S. Homes Corporation, developer of Bridlewood Farm Addition
(90028), 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 tf:e 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 or Ditch Construction
Street Signs (8 x 150)
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 178,100
$ -0-
255,700
-0-
117,900 *
-0-
56,300
-0-
4,600
4,000
-0-
-0-
1,200
1,200
235,000
-0-
2,000
102.096
400
672
$ 952,896
$ 6,272
* Does not include watermain over 8 inches that will be reimbursed to the developer.
Estimated amount between 8 inch and 12 inch is $14,896 and estimated amount of 12
inch south of plat is $9,950.
That the letter of credit required for the above items be reduced as detailed above
from $96,544 to $6,272 to reflect the completed work. Letter of Credit No. FGAC-91028
may be reduced accordingly.
FURTHER BE IT RESOLVED that the bonding requirements for the following items per
Section 8.1 of the approved development contract be reduced as followss
wv-'�
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning (Per Grading
Permit No. 41652)
Cash:
Letter of Credit:
$ 1,000 $ 11000
$49,000 $12,250
FURTHER BE IT RESOLVED that the street construction and concrete curb and gutter are
accepted for continual maintenance as of October 5, 1992 subject to the One Year
J Guarantee by the Developer per Maintenance Bond No. 249164-92.
Adopted by the City Council on October 5, 1992.