HomeMy WebLinkAboutCity Council Resolution 1994-012RESOLUTION NO. 94-12
REDUCING DEVELOPMENT BOND
WESTBRANCH ADDITION FBA 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:
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the bonding requirements are reduced as follows:
ITEM
ORIGINAL
NEW
AMOUNT
AMOUNT
Street Construction (except Dunkirk Lane)
$177,000
$177,000
Sanitary Sewer
115,000
-0-
Watermain
.81,000
-0-
Storm Sewer
81,000
-0-
Boulevard and Drainage Swale Sod
15,000
15,000
Mitigation Pond Construction
4,865
4,865
Sediment Pond Construction
1,589
1,589
Street Signs (5 x 200)
1,000
1,000
Site Grading and Drainage Improvements
149,546
5,000
Park and Trail Improvements
7,000
7,000
Setting Iron Monuments
8,347
8,347
Design, Administration, Inspection, As-Builts
76.961
26,376
TOTAL
$718,308
$246,177
That the letter of credit required for the above items be reduced as detailed above from $555,817 to
$246,177 to reflect the completed work.
•
RESOLUTION NO. 9412
WESTBRANCH ADDITION FKA PLYMOUTH CREEK HEIGHTS ADDITION (92115)
Page Two
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 Stree, Sweeping and Storm
Sewer Cleaning (See Grading Permit No. 55225
for required financial guarantees)
Cash:
Letter of Credit No. FGAC 93054:
FURTHER BE IT RESOLVED that the sanitary sewer,
accepted for continual maintenance as of January 3, 1994,
Developer per Maintenance Bond No. 143 28 21.
Adopted by the City Council on January 3, 1994.
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$37,250 $37,250
watenmain and storm sewer construction is
subject to the Two Year Guarantee by the