HomeMy WebLinkAboutCity Council Resolution 1993-476RESOLUTION NO. 93-476
REDUCING DEVELOPMENT BOND
BRIDLEWOOD FARM 3RD ADDITION (93021)
WHEREAS, in accordance with the development contract dated June 5, 1993, U.S. Home
Corporation, developer of Bridlewood Farm 3rd Addition (93021). 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 (Except City Proj. No. 304)
Sanitary Sewer (Except City Proj. No. 304)
Watermain (Except City Proj. No. 304)
Storm Sewer (Except City Proj. No. 304)
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs (5 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL AMOUNT
$ 174,000
NEW AMOUNT
$ 74,000
35,700
7,140
47,700
9,540
64,200
12,840
10,400
10,400
-0-
-0-
1,000
1,000
379,800
75,960
37,000
37,000
7,350
3,675
$ 848,008 $259,342
That the letter of credit required for the above items be reduced as detailed above from
$o48,008 to $259,342 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:
KJ,
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning (See Grading
Permit No. 50366) Cash:
Letter of Credit:
Adopted by the City Council on August 16, 1993.
$1,000 $1,000
$57,000 $57,000
0