HomeMy WebLinkAboutCity Council Resolution 1995-020( RESOLUTION NO. 95 - 20
REDUCING DEVELOAIEM BOND
FORSTER PRESERVE ADDITION (92090)
WHEREAS, in accordance with the development contract dated March 22, 1993, JANCO, Inc., developer
of Forster Pre ve Addition (92090), 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, 1HMMORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the bonding requirements are reduced as follows:
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Drainage Pond Construction
Mitigation Pond Construction
Street Signs (2 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
$509514
$-0-
439515
-0-
33,910
-0-
26,323
-0-
4,400
4,000
662
133
2,650
530
400
-0-
129,088
-0-
4
4
21310
1,155
2=
698
$329,024 $6,516
That the letter of credit required for the above items be reduced as detailed above from $20,974 to $6,516
to reflect the completed work. Letter of Credit No. 042793 may be reduced accordingly.
RESOLUTION No, 95 - 20
FORSTER PRESERVE ADDITION (92090)
Pate Two
FURTHER BE IT RESOLVED that the bonding requirements for t►tie following items per Section 8.1 of
the approved development contract be reduced as follows:
IMMr�� • ' �
Rv
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash: $10000 $1,000
Letter of Credit: $90785 $4,900
Adopted by the City Council on January 3, 1995.