HomeMy WebLinkAboutCity Council Resolution 1992-672CITY OF PLYMOUTH
RESOLUTION NO. 92-672
REDUCING DEVELOPMENT BOND
CHURCHILL FARMS 4TH ADDITION (92022)
WHEREAS, in accordance with the development contract dated April 29, 1992, Lundgren
Brothers Construction, Inc., developer of Churchill Farms 4th Addition (92022) 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:
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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 6 Drainage Improvements
Design, Administration,
Inspection, As-Builts
ORIGINAL TOTAL
TOTAL PROD. N0. 016 $23,785
ORIr.TR&(,
A -X- .- a
City Proj.
No. 016
Pllhlir
Private
Original
Total
$ -0-
$82,000
$ -0-
$82,000
-0-
35,000
-0-
35,000
-0-
29,000
-0-
29,000
23,785
36,000
-0-
36,000
-0-
-0-
3,600
3,600
-0-
-0-
-0-
-0-
-0-
150
-0-
150
-0-
-0-
-0-
-0-
-0-
-0-
21,858
70,300
B_868
70,300
$204,008 $
82,768
30-726
$286,776
TOTAL PROD. N0. 016 $23,785
CHURCHILL FARMS 4TH ADDITION (92022)
Resolution No. 92-62
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
City Proj. New
$ -0-
$32,800
$ -0-
$32,800
-0-
7,000
-0-
7,000
-0-
5,800
-0-
5,800
23,785
7,200
-0-
7,200
-0-
-0-
2,000
2,000
-0-
-0-
-0-
-0-
-0-
150
-0-
150
-0-
-0-
-0-
-0-
-0-
-0-
14,060
14,060
TOTAL PROJ. NO. 016* $23,785
$59,304 $17,987 $77,291
That the letter of credit required for the above items (excluding Project No. 016) is
hereby reduced as detailed above from $286,776 to $77,291.
* 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:
I= ORIGINAL AMOUNT NEW AMOUNT
Maintenance of Erosion and
Sediment Control Plan,
Street Sweeping and Storm
Sewer Cleaning Cash: $ 11000 $ 1,000
Letter of Credit: $17,250 $ 3,450
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. 8513-0 being reduced from
$17,250 to $3,450.
Adopted by the City Council on October 26, 1992
CHURCHILL FARMS 4TH ADDITION (92022)
Resolution No. 92-672
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-
$32,800
$ -0-
$32,800
-0-
7,000
-0-
7,000
-0-
5,800
-0-
5,800
23,785
7,200
-0-
7,200
-0-
-0-
2,000
2,000
-0-
-0-
-0-
-0-
-0-
150
-0-
150
-0-
-0-
-0-
-0-
-0-
-0-
14,060
14,060
TOTAL PROJ. NO. 016* $23,785
$59,304 $17,987 $77,291
That the letter of credit required for the above items (excluding Project No. 016) is
hereby reduced as detailed above from $286,776 to $77,291.
* 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
Sewer Cleaning Cash: $ 11000 $ 1,000
Letter of Credit: $17,250 $ 3,450
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. 8513-0 being reduced from -
$17,250 to $3,450.
Adopted by the City Council on October 26, 1992