HomeMy WebLinkAboutCity Council Resolution 1993-337RESOLUTION NO. 93-337
REDUCING DEVELOPMENT BOND
FORSTER PRESERVE ADDITION (92090)
WHEREAS, in accordance with the development contract dated March 22, 1993, JANCO, Inc.,
developer of Forster Preserve Addition (92090), 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
Drainage Pond Construction
Mitigation Pond Construction
Street Signs (2 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL AMOUNT
NEW AMOUNT
$ 50,514
$ 50,514
43,515
8,703
33,910
6,782
26,323
24,323
4,400
4,400
662
662
2,650
2,650
400
400
129,088
58,717
-0-
-0-
2,310
2,310
$ 329,024 $ 178,596
That the letter of credit required for the above items be reduced as detailed above
from $329,024 to $178,596 to reflect the completed work. Letter of Credit No. 042793
may be reduced accordingly.
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:
(No. 042793 B)
Adopted by the City Council on June 21, 1993
[aho tH• 4 UA W;l'VKij"4 � Z 11AE, V, (610"0Y
$1,000 $1,000
$9,785 $9,785