HomeMy WebLinkAboutCity Council Resolution 1993-767CITY OF PLYMOUTH
RESOLUTION NO. 93-767
REDUCING DEVELOPMENT BOND
CHURCHILL FARMS 2ND ADDITION (91079)
WHEREAS, in accordance with the development contract dated September 30, 1991, Lundgren
Brothers Construction, Inc., developer of Churchill Farms 2nd Addition (91079) 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 that
the bonding requirements are reduced as follows:
ITEM
City Proj.
ORIGINAL
AMOUNT
Original
No. 016
Public
Private
Total
Street Construction
$ -0-
$98,000
$ -0-
$98,000
Sanitary Sewer
-0-
36,000
-0-
36,000
Watermain
-0-
47,000
-0-
47,000
Storm Sewer
23,785
32,000
-0-
32,000
Boulevard & Drainage
Swale Sod
-0-
-0-
6,000
6,000
Pond or Ditch Construction
-0-
-0-
-0-
-0-
Street Signs (2 a 150)
-0-
300
-0-
300
Park and Trail Improvements
-0-
-0-
-0-
-0-
Site Grading & Drainage Improvements
-0-
-0-
120,000
120,000
Design, Administration,
Inspection, As-Builts
25.596
15-12.2
40.716
ORIGINAL TOTAL
$238,896
$141,120
$380,016
TOTAL PROJ. NO. J16 $23,785
CHURCHILL FARMS 2ND ADDITION (91079)
Resolution No. 93-767
Page Two
ITEM
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard & Drainage
Swale Sod
Pond or Ditch Construction
Street Signs (2 x 1500
Park and Trail Improvements
Site Grading & Drainage Improvements
Design, Administration,
Inspection, As-Builts
ORIGINAL TOTAL
NEW AMOUNT
City Proj.
New
No. 016uP
blic
Private
Total
$ -0-
$-0-
$ -0-
$-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
23,785
-0-
-0-
-0-
-0-
-0-
1,500
1,500
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
$-0-
__l$4
$1,680
1Bo
$1,680
TOTAL PR0.7. NO. 016* $23,785
That the letter of credit required for the above items (excluding Project No. 016) is
hereby reduced as detailed above from $29,008 to $1,680. Letter of Credit No. 911023-
1A may be reduced accordingly.
* The required financial guarantee for this was provided with Churchill Farms Addition
(90009).
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:
Maintenance of Erosion and
Sediment Control Plan,
Street Sweeping and Storm
Sewer Cleaning Cash: $ 1,000 $ -0-
Letter of Credit: $38,200 $-0-
FURTHER BE IT RESOLVED that the required financial guarantees for the above items is
reduced as detailed above from $1,000 cash to $ 0 (zero) with the required Letter of
Credit No. 911023-1B being reduced from $10,000 to $ 0 (zero). The Letter of Credit
will be returned by the Finance Department.
FURTHER BE IT RESOLVED that the street construction and concrete curb and gutter is
accepted for continual maintenance as of December 6, 1993 subject to the One Year
guarantee by the Developer per Maintenance Bond No. 5168727.
Adopted by the City Council on December 6, 1993