HomeMy WebLinkAboutCity Council Resolution 1994-707•
RESOLUTION NO. 94- 707
REDUCING DBVFLOPMBNT BOND
SAVANNAS ADDrMN (03112)
WHERE". in a000sdanoe whh the development contract dated lune 22, 19949 Lindgren Bros.
Construction. Inc., developer of Savannah Addition (93112), has speed to Wall certain improvemo m
for said devebpmentt and
SVHERRAS, the developer has completed a portion of the street, utility and site pradinp as noted below;
Ed
VAMM EA.B, the developer has requested a reduction of the development bond to reflect the compo ted
wadi;
NOW, SORE, BE IT HEREBY RESOLVED BY MM CITY COUNCIL OF THE CPIY OF
PLYMOUTH, MINNESOTA; tbat the bonding requirements aro reduced as follows:
That the letter of credit required for the above items be reduced as detailed above from 5585,267 to
$385,630 to reflect the completed work. Letter of Credit No. 13279 may be reduced accordingly.
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ORIG NAL
AMOUNT
NEW
AMOUNT
Street Construction
(Bxcept City Prof. No's 213 A 907)
$99,660
$99,660
Sanitary Sewer
(Bxcept City Pro. No's 213 dr 907)
101,420
20,284
Watermain
(Except City Pro. No's 213 do 907)
80,410
16,082
Storm Sewer
42,370
9,787
Boulevard and Drainage Swale Sod
7,000
7,000
Mitigation Pond Construction
90500
99500
Sediment Pond Construction (Including wall)
14,500
14,500
Street Signs (3 x 200)
600
600
She Oradinp and Dminage Improvements
(Except city Proj. No's 213 do 907)
164,000
164,000
Paris and Trail Improvements
4
4
Setting Iron Monuments
21900
21900
Design, AdmWstradon, Inspection, As-Builts
am
41.11T
TOTAL
$585,267
$385,630
That the letter of credit required for the above items be reduced as detailed above from 5585,267 to
$385,630 to reflect the completed work. Letter of Credit No. 13279 may be reduced accordingly.
•
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RMDXAnWN NO, 94. 707
3AVAr4un ADDrMN (93112)
Pap Twa
FURT2M BE 1T RESOLVED that the boaft requiremeab for the followinj items Per Section 8.1 of
the appw ed development contract be reduced as follew
rlahrteosm of Broeio 1 end Sediment
Control Plan Street S"ft and Storm
Sww Cleanin
Cash:
Mer of Credit:
Adopted by the city CouwU on November 7, 1994
$11000 $19000