HomeMy WebLinkAboutCity Council Resolution 1992-694CITY OF PLYMOUTH
RESOLUTION NO. 92-694
REDUCING DEVELOPMENT BOND
ROCKFORD ROAD PLAZA ADDITION (89014)
WHEREAS, in accordance with the development contract dated April 2, 1990, Ryan
Construction Company, Inc. and Dayton -Hudson corporation, developer of Rockford Road
Plaza Addition (89014) 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;
NOV, THEREFORE. BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTh that
the bonding requirements are reduced as follows:
I= ORIGINAL AMOUNT
No's
City Proj.
905 E 948
pyhliC
Private
Original
Tot&l
Street Construction $
794,531
$ -0-
$ -0-
$ -0-
Sanitary Sewer
88,075
-0-
-0-
-0-
Watermain
171,832
-0-
-0-
-0-
Storm Sewer
223,950
-0-
-0-
-0-
Boulevard and Drainage Sod
-0-
-0-
-0-
-0-
Pond or Ditch Construction
-0-
-0-
-0-
-0-
Street Signs (3 z 150)
-0-
450
-0-
450
Retaining Walls
-0-
-0-
123,300
123,300
Site Grading i Drainage Improvements
-0-
-0-
780,000 *
780,000
Design. Administration,
Inspection, As-Builts
54
108,396
108.450
ORIGINAL. TOTAL
$ 504
$1,011,696
$1,012,200
TOTAL PROJ. NO'S 905 i 948 $1.278,388
* Includes Vinewood Lane and 42nd Place North
ROCKFORD ROAD PLAZA ADDITION (89014)
Resolution No. 92- 694
Page Two
ITEtl
City Proj.
No's 905 6 948
Street Construction $ 794,531
Sanitary Sewer 88,075
Watermain 171,832
Storm Sewer 223,950
Boulevard i Drainage Swale Sod -0-
Pond or Ditch Construction -0-
Street Signs (3 x 150) -0-
Retaining Walls -0-
Site Grading 5 Drainage Improvements -0-
Design, Administration.
Inspection, As-Builts
ORIGINAL TOTAL
TOTAL PROJ. NO's 905 i 948 $1,278.388
* Includes Vinewood Lane and 42nd Place North
NEW AMOUNT
Public
Private
New
Total
$ -0-
$ -0-
$ -0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
$ -0-
-O-
$ -0-
-0-
$ -0-
That letter of credit required for the above items (excluding Project No's 905 & 948)
is hereby reduced as detailed above from $16.752 to $0 (zero).
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=
Maintenance of Erosion and
Sediment Control Plan,
Street Sweeping and Storm
Seger Cleaning Cash:
Letter of Credit:
$ 11000 $ -0-
$ 104.000 $ -0-
FURTHER BE IT RESOLVED that the required financial guarantees for the above items are
reduced from $1,000 cash to $0 (zero) with the required Bond No. U1605617 being reduced
from $39.000 ($26.000 x 1502) to $0 (zero).
Adopted by the City Council on November 2, 1992