HomeMy WebLinkAboutCity Council Resolution 1993-528CITY OF PLYMOUTH
ESOLUTION NO. 93- 528
REDUCING DEVELOPMENT BOND
SEVEN PONDS SECOND ADDITION (91062)
WHEREAS, in accordance with the development contract dated October 10, 1991, Hans Hagen
Homes, Inc., David R. Dahl, and Laurie J. Dahl, Norwest Bank Minnesota Southwest N.A.
and Robbins Partnership, BOVAH Investment Company, developer of Seven Ponds Second
Addition (91062) 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 that
the bonding requirements are reduced as follows;
STEM
City Pro^.
ORIGINAL
Publyr
AMOUNT
Private
Total
Street and Concrete C & G (Res.)
$ 32,336
$60,000
$ -0-
$ 60,000
Street Construction (Comm./Ind.)
353,538
-0-
-0-
-0-
Sanitary Sewer System (Res.)
34,128
38,500
-0-
38,500
Sanitary Sewer System (Comm./Ind.)
34,128
-0-
-0-
-0-
Watermain System (Comm./Ind.)
137,937
28,500
-0-
28,500
Storm Sewer System
-0-
13,000
-0-
13,000
Boulevard & Drainage Swale Sod
-0-
-0-
4,600
4,600
Pond or Ditch Construction
-0-
-0-
-0-
-0-
Street Signs (2 x 150)
-0-
300
-0-
300
Park and Trail Imp.
-0-
-0-
-0-
-0-
Site Grading & Drainage Imp.
-0-
-0-
85,000
85,000
Design, Administration,
Inspection, As-Builts
-0-
16.836
10.752
27"588
ORIGINAL TOTAL
$592,067
$157,136
$100,352
$257,488
ZTEM
City Proi.
NEW
pyoir
AMOUNT
Private
Total
Street and Concrete C & G (Res.)
$ 32,336
$30,000
$ -0-
$ 30,000
Street Construction (Comm./Ind.)
353,538
-0-
-0-
-0-
Sanitary Sewer System (Res.)
34,128
-0-
-0-
-0-
Sanitary Sewer System (Comm./Ind.)
34,128
-0-
-0-
-0-
Watermain System (Comm./Ind.)
137,937
-0-
-0-
-0-
Storm Sewer System
-0-
-0-
-0-
-0-
Boulevard & Drainage Swale Sod
-0-
-0-
1,500
-0-
Pond or Ditch Construction
-0-
-0-
-0-
-0-
Street Signs (2 x 150)
-0-
-0-
-0-
-0-
Park and Trail Imp.
-0-
-0-
-0-
-0-
Site Grading & Drainage Imp.
-0-
-0-
8,500
8,500
Design, Administration,
Inspection, As-Builts
-0-
3.600
1.200
4.620
REVISED TOTAL
$592,067
$ 33,600
$ 11,200
$ 43,120
SEVEN PONDS SECOND ADDITION (91062)
Resolution No. 93-528
Page Two
That the letter of credit required for the above items (excluding the city project) be
reduced as detailed above from $56,000 to $43,120 to reflect the completed work.
FURTHER BE IT RESOLVED that the bonding requirements for the following items per
Section 8.1 Vi tie approved development contract be reduced as follows:
Maintenance of Erosion and
Sediment Control Plan,
Street Sweeping and Storm
Sewer Cleaning (See Grading Permit No. 43816)
Cash: $1,000 $1,000
Letter of Credit: $92,000 $23,000
Adopted by the City Council on September 13, 1993.
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