HomeMy WebLinkAboutCity Council Resolution 1993-741RESOLUTION NO. 93-7$1
REDUCING DEVELOPMENT BOND
PLYMOUTH CREEK HEIGHTS ADDITION (92115)
WHEREAS, in accordance with the development contract dated October 11, 1993, U.S. Home
Corporation developer of Plymouth Creek Heights Addition (92115), 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;
NOV. THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA; that the bonding requirements are reduced as follows:
W�
Street Construction (except Dunkirk Lane)
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Sediment Pond Construction
Mitigation Pond Construction
Street Signs (5 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
S 177,000
$ 177,000
115,000
115,000
81,000
81,000
81,000
81,000
15,000
15,000
1,589
1,589
4,865
4,865
1,000
1,000
149,546
5,000
7,000
7,000
8,347
8,347
$ 718,308 $ 555,817
That the letter of credit required for the above items be reduced as detailed above
from $718,308 to $555,817 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:
i A,
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning (See Grading Permit
No. 55225 for required financial
guarantees)
Cash:
Letter of Credit No. FGAC 93054:
Adopted by the City Council on Novemb•_r 15, 1993.
$1,000 $1,000
$37,250 $37,2.50