HomeMy WebLinkAboutCity Council Resolution 1992-786RESOLUTION NO. 92-786
REDUCING DEVELOPMENT BOND
HARBOR WOODS ADDITION (90093)
WHEREAS, in accordance with the development contract dated September 25, 1992, Carlson
Real Estate Company, developer of Harbor Woods Addition (90093), 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:
so:
Street Construction (Excluding City Proj.)
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs (2 x 150)
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL AMOUNT
$ 86,800
NEW AMOUNT
$ 86,800
64,200
34,200
48,255
48,255
79,800
55,000
5,600
5,600
-0-
-0-
300
300
99,075
19,815
1,680
1,680
$ 431,995 $ 281,848
That the letter of credit required for the above items be reduced as detailed above
from $431,995 to $281,848 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
Cash:
Letter of Credit:
Adopted by the City Council on December 7, 1992
$1,000 $1,000
$6,650 $6,650