HomeMy WebLinkAboutCity Council Resolution 1992-782CITY OF PLYMOUTH
RESOLUTION NO. 92-782
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:
ORTOTRAL AMOUNT
City Proj. Original
Street Constructionâ–ş
$ -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 x 150)
-0-
150
-0-
150
Park and Trail Improvements
-0-
-0-
-0-
-0-
Site Grading & 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. NO. 016 $23,785
CHURCHILL FARMS 3RD ADDITION (92021)
Resolution No. 92-1782
Page Two
ITE NEW AMOUNT
City Proj.
No. 016
Public
Private
New
Total
Street Construction $
-0-
$10,200
$ -0-
$10,200
Sanitary Sewer
-0-
-0-
-0-
-0-
Watermain
-0-
-0-
-0-
-0-
Storm Sewer
23,785
-0-
-0-
-0-
Boulevard & Drainage
Swale Sod
-0-
-0-
2,000
2,000
Pond or Ditch Construction
-0-
-0-
-0-
-0-
Street Signs (1 x 150)
-0-
-0-
-0-
-0-
Park and Trail Improvements
-0-
-0-
-0-
-0-
Site Grading & Drainage Improvements
-0-
-0-
-0-
-0-
Design, Administration,
Inspection, As-Builts
1.224
240
1.464
ORIGINAL TOTAL
$11,424 $
2,240
$13,664
TOTAL PROJ. NO. 016* $23,785
That the letter of credit required for
the above
items (excluding
Project No. 016) is
hereby reduced as detailed above from $43,086
to
$13,664. Letter
of Credit
No. 921009-
1B may be reduced accordingly.
* The required financial guarantee for
this was
provided with Churchill Farms Addition
(90009).
FURTHER BE IT RESOLVED that !he bonding
requirements for the following items
per
Section e.1 of the approved development
contract
be reduced as follows:
ITEM
ORIGINAAL AMOUNT
NEW AMOUNT
Maintenance of Erosion and
Sediment Control Plan,
Street Sweeping and Storm
Sewer Cleaning Cash: $ 11000 $ 1,000
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. 921009-1C remaining at
$1,100.
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 per the maintenance bond provided by Nodland Construction
Company, Inc.
Adopted by the City Council on December 7, 1992.