HomeMy WebLinkAboutCity Council Resolution 1993-732RESOLUTION NO. 93-732
REDUCING DEVELOPMENT BOND
PINE CREEK ADDITION (92020)
WHEREAS, in accordance with the development contract dated July 6, 1992, Michael W.
Siskin and Vicki Katzovitz Siskin, developer of Pine Creek Addition (92020), 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:
y 01�
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Mitigation Pond Construction
Street Signs (1 z 150)
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL AMOUNT
$ 25,600
NEW AMOUNT
$ -0-
19,100
-0-
14,500
-0-
5,500
-0-
2,400
1,600
8,000
1,600
150
150
27,000
-0-
-0-
-0-
12.270
402
$ 114,520
$ 3,752
That the letter of credit required for the above items be reduced as detailed above
from $18,872 to $3,752 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:
_"im,
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit (Cash was substituted):
$1,000 $1,000
$ 500 $ S00
FURTHER BE IT RESOLVED that the street construction and concrete curb and gutter is
accepted for continual maintenance as of November 15, 1993 subject to the one year
guarantee per Maintenance Bond No. 5168758 and the additional one year guarantee of the
watermain wet tap connection at Sunset Trail.
Adopted by the City Council on November 15, 1993.