HomeMy WebLinkAboutCity Council Resolution 1993-622RESOLUTION NO. 93- 622
REDUCING DEVELOPMENT BOND
COURTYARDS OF FRENCH CREEK ADDITION (93034)
WHEREAS, in accordance with the development contract dated May 11, 1993, The
Courtyards of French Creek, a Minnesota Partnership by Contractor Property
Developers Company, its General Partner, developer of Courtyards of French
Creek (93034), 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:
0
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Drainage Pond Construction
Street Signs (1 a 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
$ 74,312
$ 26,860
48,810
9,762
40,923
8,185
30,600
6,120
5,000
51000
2,Ou0
400
200
200
29,775
5,955
-0-
-0-
1,875
375
$ 261,514 $ 67,177
That the letter of credit required for the above items be reduced as detailed
above from $261,514 to $67,171 to reflect the completed work.
FUR-THU BE IT RESOLVED that the bonding requirements for the following items
per Section 8.1 of the approved development contract be reduced as follows:
ti•
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
Adopted by the City Council on October 4, 1993
$1,000 $1,000
$11,930 $11,930