HomeMy WebLinkAboutCity Council Resolution 1993-428RESOLUTION NO. 93-428
REDUCING DEVELOPMENT BOND
BRIDLEWOOD FARM ADDITION (90028)
WHEREAS, in accordance with the development contract dated June 6, 19991 and Revised
September 4, 1991, U.S. Homes Corporation, developer of Bridlewood Farm Addition
(90028), 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 ORIGINAL
AMOUNT
NEW AMOUNT
Street Construction $
178,100
$ -0-
Sanitary Sewer
255,700
-0-
Watermain
177,900 *
-0-
Storm Sewer
56,300
-0-
Boulevard and Drainage Swale Sod
4,600
4,000
Pond or Ditch Construction
-0-
-0-
Street Signs (8 x 150)
1,200
1,200
Site Grading and Drainage Improvements
235,000
-0-
Park and Trail Improvements
2,000
400
Design, Administration, Inspection, As-Builts
102.096
672
TOTAL $
952,896
$ 6,272
* Does not include watermain over 8 inches that will be reimbursed to the developer.
Estimated amount between 8 inch and 12 inch is $14,896 and estimated amount of 12
inch south of plat is $9,950.
That the letter of credit required for the above items be reduced as detailed remain at
$6,272 to reflect the completed work. Letter of Credit No. FGAC-91028 must remain in
place.
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:
ITEM ORIGINAL AMOUNT NEW AMOUNT
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash: $1,000 $1,000
Letter of Credit No. FGAC-91021: $49,000 $ -0-
Adopted by the City Council on August 2, 1993.