HomeMy WebLinkAboutCity Council Resolution 1994-186•
RESOLUTION NO. 94.186
REDUCING DEVEIAPMENT BOND
BRMLEWOOD FARM 3RD ADDITIOV (93081)
WHEREAS, in ec dw= with the development contract dated June S, 1993, U.S. Home Corporation,
developer of Bridlewood Farm 3rd Addition (93021), has agreed to install certain hwovemeots for aid
development; and
WHEREAS, the developer has completed a portion of the sheet, 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, THBRBFOM BB IT HEREBY RESOLVED BY THE CITY COUNC L OF THE CITY OF
PLYMOUTH, MNNBSOTA; that the bonding requirements are reduced as follows:
That the letter of credit required for the above items be reduced as detailed above from $226,279 to
5183,742 to reflect the completed work. Letter of Credit No. FOAC - 93032 may be reduced
accordingly.
ORIOINAL
NEW
AMOUNT
Street Construction (Except City Proj. No. 304)
$174,000
$ 74,000
Sanitary Sewer (Except City Proj. No. 304)
33,700
-0-
Watem ain (Except City Proj. No. 304)
47,700
-0-
Storm Sewer (Except City Proj. No, 304)
640200
-0-
Boulevard and Drainage Swale Sod
109400
10,400
Pond or Ditch Construction
-0-
-0-
Street Sims (5 x 200)
19000
11000
Site Grading and Drainage Improvements
379,800
37,980
Park and Trull Improvements
37,000
37,000
Setting Iron Monuments
7,350
3,673
Design, Administration, Ingwdon, M -Bunts
.90152
19.687
TOTAL
58481008
$183,742
That the letter of credit required for the above items be reduced as detailed above from $226,279 to
5183,742 to reflect the completed work. Letter of Credit No. FOAC - 93032 may be reduced
accordingly.
n
RESOLUTION No. 94.186
WMIZWWOOD FARM 3RD ADDITION (930xO
Pap Two
FURTHER BB IT RESOLVED that the bonding requirnoow for the following items per Section 8.1 of
the approved development contract be reduced as follm:
FV071
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Seger Cleaning
Cub:
Letter of Credit:
Adopted by the City Council on April 49 1994.
$11000 S1,000
S57,000 S28,50O