HomeMy WebLinkAboutCity Council Resolution 1992-781RESOLUTION NO. 92-781
REDUCING DEVELOPMENT BOND
PLYMOUTH POINTE ADDITION (92034)
WHEREAS, in accordance with the development contract dated September 29, 1992, Good
Value Homes, Inc., developer of Plymouth Pointe Addition (92034), 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
Street Signs (4 x 150)
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
Setting Iron Monuments
TOTAL
ORIGINAL AMOUNT
$ 106,800
NEW AMOUNT
$ 52,400
75,000
-0-
29,300
-0-
72,500
-0-
9,200
9,200
-0-
-0-
600
600
128,000
25,600
-0-
-0-
50,568
10,536
$ 473,968 $ 100,336
That the letter of credit required for the above items be reduced as detailed above
from $473,968 to $100,336 to reflect the completed work.
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 (per Grading Permit No. 49080)
Cash: $1,000 $1,000
trash per Check No. 95237 $19,750 $19,750
FURTHER BE IT RESOLVED that the sanitary sewer, watermain and storm sewer construction
is accepted for continual maintenance as of December 7, 1992 subject to the Two Year
Guarantee by the Developer.
Adopted by the City Council on December 7, 1992.