HomeMy WebLinkAboutCity Council Resolution 1993-705RESOLUTION NO. 93-705
REDUCING DEVELOPMENT BOND
HEATHER RUN ADDITION (92035)
WHEREAS, in accordance with the development contract dated March 22, 1993, Lundgren
Bros. Construction, Inc., developer of Heather Run Addition (92035), 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*i--�3I
Street Construction
County Road 24 Lane Improvements
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Mitigation Pond Construction
Street Signs (4 z 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL AMOUNT
$ 182,000
NEW AMOUNT
$ 100,000
29,300
29,300
144,700
28,940
72,100
14,420
67,800
13,400
7,200
7,200
25,000
5,000
800
800
192,500
38,500
15,200
15,200
5,000
5,000
$ 830,592 $ 288,691
That the letter of credit required for the above items be reduced as detailed above
from $459,648 to $288,691 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:
KF;r
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
Adopted by the City Council on November 1, 1993.
$1,000 $1,000
$27,650 $27,650