HomeMy WebLinkAboutCity Council Resolution 1992-671CITY OF PLYMOUTH
RESOLUTION NO. 92-671
REDUCING DEVELOPMENT BOND
CHURCHILL FARMS 3RD ADDITION (92021)
WHEREAS, in accordance with the development contract dated April 29, 1992, Lundgren
Brothers Construction, Inc., developer of Churchill Farms 3rd Addition (92021) 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-
$48,000
$ -0-
$48,000
Sanitary Sewer
-0-
23,000
-0-
23,000
Watermain
-0-
18,000
-0-
18,000
Storm Sewer
23,785
5,500
-0-
5,500
Boulevard & Drainage
Swale Sod
-0-
-0-
2,000
2,000
Pond or Ditch Construction
-0-
-0-
-0-
-0-
Street Signs (1 z 150)
-0-
150
-0-
150
Park and Trail Improvements
-0-
-0-
-0-
-0-
Site Grading is Drainage Improvements
-0-
-0-
39,100
39,100
Design, Administration,
Inspection, As-Builts
11.358
4.932
16.290
ORIGINAL TOTAL
$106,008
$ 46,032
$152,040
TOTAL PROJ. N0. 016 $23,785
CHURCHILL FARMS 3RD ADDITION (92021)
Resolution No. 92-671
Page Two
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard & Drainage
Swale Sod
Pond or Ditch Construction
Street Signs (1 x 150)
Park and Trail Improvements
Site Grading & Drainage Improvements
Design, Administration,
Inspection, As-Builts
ORIGINAL TOTAL
NEW AMOUNT
City Proj. New
$ -0-
$19,200
$ -0-
$19,200
-0-
4,600
-0-
4,600
-0-
3,600
-0-
3,600
23,785
1,100
-0-
1,100
-0-
-0-
2,000
2,000
-0-
-0-
-0-
-0-
-0-
150
-0-
150
-0-
-0-
-0-
-0-
-0-
-0-
7,820
7,820
TOTAL PROJ. NO. 016* $23,785
$32,088 $10,998 $43,086
That the letter of credit required for the above items (excluding Project No. 016) is
hereby reduced as detailed above from $152,040 to $43,086.
* 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:
ITEM ORIGINAL AMOUNT NEW AMOUNT
Maintenance of Erosion and
Sediment Control Plan,
Street Sweeping and Storm
Seger Cleaning Cash: $ 11000 $ 11000
Letter of Credit: $ 5,500 $ 1,100
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. B513 -N being reduced from
$5,500 to $1,100.
Adopted by the City Council on October 26, 1992.