HomeMy WebLinkAboutCity Council Resolution 1993-560CITY OF PLYMOUTH
RESOLUTION NO. 93-560
REDUCING DEVELOPMENT BOND
WESTWOOD RIDGE 2ND ADDITION (85108)
WHEREAS, in accordance with the development contract dated March 2, 1987, Graham
Development Company and Commercial Excavating, Inc., developer of Westwood Ridge 2nd
Addition (85108), 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:
FFFi �y
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs
Site Grading and Drainage Improvements
(See Grading permit No. 8996)
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 99,790
$ -0-
45,047
-0-
37,480
-0-
23,963
-0-
6,000
-0-
-0-
-0-
600
-0-
-0-
-0-
-0-
-0-
25.546
-0-
$ 238,426
$ -0-
That Letter of Credit No. 220 required for the above items was previously reduced as
detailed above to $0 (zero) to reflect the completed work and returned by the Finance
Department.
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. See Grading Permit
No. 8996 for required financial
guarantee of $32,000 per
Letter of Credit No. 218.
Cash:
Letter of Credit:
$1,000 $-0-
$32,000 $-0-
That Letter of Credit No. 218 is hereby reduced from $6,000 to $0 (zero) and will be
returned by the Finance Department.
Adopted by the City Council on September 20, 1993.
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