HomeMy WebLinkAboutCity Council Resolution 1995-053•
RESOLUTION NO. 9S - 53
( REDUCING DEVELOPMENT BOND
HOLLY CREEK 3RD ADDITION (94124)
WHEREAS, in accordance with the development contract dated November 7, 1994, Scherber Partnership
Properties, developer of Holly Creek 3rd Addition (94124), has agreed to install certain improvements for
said development; and
WHBR]W, 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, MMUWORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, hUNNBSOTA; that the bonding requirements are reduced as follows:
ITBM
ORIGINAL
AM43ItiT
NEW
AMlZV�T
Street Construction
$70,778
$70,778
Sanitary Sewer
540284
10,857
WaWmain
48,490
90698
Stone Sewer
39,935
787
Boulevard and Drainage Swale Sod
408W
41800
Mitigation Pond Constriction
-0-
-0-
Sediment Pond Construction
-0-
-0-
Street Signs (2 x 200)
400
400
Site Grading and Drainage Improvements
64,690
12,938
Park and Trail Improvements
61750
61750
Setting Iron Monuments
2,4W
-0-
Design, Administration, Inspection, As-Builts
35,103
14.041
TOTAL-
$327,630
$131,049
That the letter of credit required for the above items be reduced as detailed above from $327,630 to
$131,049 to reflect the completed work. The required Letter of Credit may be reduced accordingly.
E
•
RESOLUTION N, O.93- 53
( HOLLY CREEK. 3RD ADDITION (94124)
Pare Two
FURTHER BE IT RESOLVED that the bonding requirements for the following items per Section 8.1 of
the approved development contract be reduced as follows:
Maintenance of Paosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning (See Grading Permit No. 62344
for financial guarantee requirements)
Cash:
Letter of Credit:
Adopted by the City Council on January 17, 1995.
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$-0- $-0-
$-0- S-0-
0