HomeMy WebLinkAboutCity Council Resolution 1993-656•
RESOLUTION NO. 93-656
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:
I=
ORIGINAL AMOUNT
NEW AMOUNT
Street Construction (Except City Proj. No. 304)
$ 174,000
$ 74,000
Sanitary Sewer (Except City Proj. No. 304)
35,700
-0-
Watermain (Except City Proj. No. 304)
47,700
-0-
Storm Sewer (Except City Proj. No. 304)
64,200
-0-
Boulevard and Drainage Swale Sod
10,400
10,400
Pond or Ditch Construction
-0-
-0-
Street Signs (5 x 200)
1,000
1,000
Site Grading and Drainage Improvements
379,800
75,960
Park and Trail Improvements
37,000
37,000
Setting Iron Monuments
7,350
3,675
Design, Administration, Inspection, As-Builts
90.858
24.244
TOTAL
$ 848,008
$226,279
That the letter of credit required for the above items be reduced as detailed above from
$259,342 to $226,279 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:
�v �, �.: r1 h � �1, v• A
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning (See Grading
Permit No. 50366) Cash: $1,000 $1,000
Letter of Credit: $57,000 $57,000
FURTHER BE IT RESOLVED that the sanitary sewer, watermain, and storm sewer construction is
accepted for continual maintenance as of October 18, 1993 subject to the Two Year
Guarantee by the developer per Maintenance Bond No. 54064507.
Adopted by the City Council on October 18, 1993.