HomeMy WebLinkAboutCity Council Resolution 1993-769RESOLUTION NO. 93-769
REDUCING DEVELOPMENT BOND
PARKERS LAKE NORTH 2ND (93067)
SHENANDOAH LANE EXTENSION
WHEREAS, in accordance with the development contract dated July 12, 1993, Laukka-
Williams Parkers Lake and the City of Minneapolis, developer of Parkers Lake North 2nd
Addition - Shenandoah Lane Extention, (93067), 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:
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Street Construction
Sanitary Sewer
Salvage Removal & Installation
Watermain
Storm Sewer
Median Landscaping & Irrigation
Boulevard and Drainage Swale Sod
Drainage Pond Mitigation Construction
Mitigation Pond Construction
Street Signs (1 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL AMOUNT
NEW AMOUNT
$ 229,013
$ 45,803
18,464
3,693
3,802
1,896
155,984
31,197
183,911
36,782
44,095
30,360
12,700
12,700
-0-
-0-
95,600
95,600
200
200
114,383
11,438
24,100
17,100
-0-
-0-
105.870
34.412
$ 988,122 $ 321,181
That the letter of credit required for the above items be reduced as detailed above
from $393,729 to $321,181 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:
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Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning (See Grading Permit
No. 54682 For The Required Financial
Guarantee)
Cash:
Letter of Credit:
Adopted by the City Council on December 6, 1993
$1,000 $1,000
$23,000 $23,000
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