HomeMy WebLinkAboutCity Council Resolution 1994-567•
RESOLUTION NO. 94-567
REDUCING DEVRWPhUM BOND
PI NTA1L VELI.AS ADDITION i9366.M
WHEREAS, in accordance with the development contact dated April 0, 1994, The Rottlund Company,
Inc., developer of Pintail Villas Addition (93065)9 has agreed to Wall certain improvements for said
development and
WHOBAS, the developer hon completed a potion of the street, utility and site grading u rated below;
and
WHEREAS, the developer hu requested a reduction of �he development bond to reflect the aofted
NOW, TEMEFORB► BB 1T IiEMY RESOLVED BY THE CI'T'Y COUNCIL OF THE CITY (F
PLYMOUTH, h UNNBSOTA; that the bouxfing nuquirernents are reduv d as follows:
EM
ORIGINAL
NEW
Aelou
AMT&I
Street Conshuction
5259,936
$56 838
Sanitary Sewer
409633
8 127
Waterrnain
63,180
129636
Storm Sewer
619681
129336
Boulevvd and Dninaga Swab Sod
29900
2,900
NURP Pond Construction (See Fib /93067)
4)-
-0-
Street Stuns (2 x M)
400
400
Site Ondinj and Drainage Improvements
5269348
6,614
Put gad Trail Improve MU
-0-
-0-
Setting Iron Monuments
11510
19500
Desitn, A"Wetration, Inspection► As-Buhits
114,913
-Q14
TU i'AL
$10071,591
$113,.113
Mist the Nvanchd guarantee required for the above itrms be reduced as detailed above from $549,339 to
$1130513 to reflect tie completed work. :n this itstance, .he developer submitted 3ond No. 67438 for
aite grading and drainage inWmnents .n the amount of $541,361. It was sub•cquently reduced to
$225,000 ac August 13, 1994'&nJ now can be reduced to $9,921. NOTE: Bonds must be 150% of the
"Neva, Amwnt."
I* Letter of Credit (No. 2843a; for the remaining items detailed r,bove 1% hereby reduced to $106,899.
RESOLUTION N0.94- 567
PINTAII. VIU AS ADDITION (93055)
Palo Two
PURn= BE IT RBSOLVED that the bonft requirement= for #%^ srl_lowin8 items per Section 8.1 of
the sppwved development contract be reduced as follow::
11 • tf l ►:
.„• 1%• „• 1.1
Maintomm of Braion and Sediment
Control Plan Street sweeping and Storm
Sewer Cleaning ($a Graft Permit No. 33885
and 58883)
Cub: $1,000 $10000
Letter of Credit: $14,000 $149000
Adopted by the City Ccumd on September 19, 1994.