HomeMy WebLinkAboutCity Council Resolution 1993-385RESOLUTION NO. 93-385
REDUCING DEVELOPMENT BOND
HERITAGE WOODS ESTATES SECOND ADDITION (89087)
WHEREAS, in accordance with the development contract dated November 6, 1989, Graham
Development Company, developer of Heritage Woods Estates Sescond Addition, (89087), 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:
ITEM
Street Construction
(Excluding City Proj. No. 416)
Sanitary Sewer
(Excluding City Proj. No. 416)
Watermain
(Excluding City Proj. No. 416)
Storm Sewer
(Excluding City Proj. No. 416)
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs (6 x 150)
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL AMOUNT
$ 129,620
NEW AMOUNT
$ 25,924
90,366
18,073
84,275
16,855
67,434
13,487
12,600
3,800
-0-
-0-
900
900
205,200
41,040
16,394
16,394
$ 679,603 $ 152,850
That the letter of credit required for the above items be reduced as detailed above
from $679,603 to $152,850 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:
STEM ORIGINAL AMOUNT NEW AMOUNT
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
FURTHER BE IT RESOLVED July 12, 1993.
Adopted by the City Council July 12, 1993.
$1,000 $1,000
$51,000 $12,750
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