HomeMy WebLinkAboutCity Council Resolution 1993-279RESOLUTION NO. 93-279
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:
�1
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
$ 106,800
$ 24,100
75,000
-0-
29,300
-0-
72,500
-0-
9,200
9,200
-0-
-0-
600
600
128,000
12,800
-0-
-0-
50,568
5,604
$ 473,968 $ 54,304
That the letter of credit required for the above items be reduced as detailed above
from $100,336 to $54,304 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)
Ccsh: $1,000
Cash per Check No. 95237 $19,750
Adopted by the City Council on May 17, 1993
$1,000
$19,750