HomeMy WebLinkAboutCity Council Resolution 1992-739CITY OF PLYMOUTH
ESOLUTION NO. 92- "39
REDUCING DEVELOPMENT BOND
HERITAGE RIDGE PLAT TWO ADDITIO.. (89036)
WHEREAS, in accordance with the development contract dated October 12, 1989, Host
Development by International Development, Inc. and Host Development by Al Stobbe
Construction, developer of Heritage Ridge Plat Two (89036), 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,
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 (included with grading)
Street Signs
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
95,400
$ -0-
72,500
-0-
60,000
-0-
56,600
-0-
7,600
-0-
-0-
-0-
600
-0-
80,000
-0-
-0-
44.724
-0-
-o-
$ 417,424 $ -0-
That the letter of credit required for the above items be reduced as detailed above
from $73,494 to $0 (zero) to reflect the completed work. Letter of Credit No.
6630/4343 WPG is hereby reduced accordingly and will be returned by the Finance
Department.
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:
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
$ 1,000 $ 1,000
$31,900 $ 2,500
FURTHER BE IT RESOLVED that the sanitary sewer, watermain, storm sewer, street
construction and concrete curb and gutter is accepted for continual maintenance as of
November 16, 1992 subject to the One Year Guarantee by the Developer per Maintenance
Bond No. 47-0120-10264-92-5.
Adopted by the City Council on November 16, 1992